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Bad Credit Personal Loans - Helping You Tide Over Financial Crisis

Posted March 22, 2013 by Harry Pearce to Finance 0 0
This post was written by a EasyFinance.com Community member. The views expressed below may not reflect the views of EasyFinance.com.

Almost all of us face financial crisis at some point of time, and during emergency we look for the option to get personal loan. Think, if unfortunately your credit history is bad, then you would not be able to avail any advances. Lenders will consider us as a risk while offering you financial help. To overcome this situation, introducing bad credit personal loans proved beneficial. It helps in managing your various expenses in the shortest possible time.

If you are in debt due to high medical bills, then such lends will help you in getting out of your economic crisis. You will be able to obtain bad credit personal loans even though you have few unpaid debts or bankruptcy on your credit report. However, you could apply for it, if only you have sufficient resources to pay it off.


  • It will give a chance to resolve your immediate financial crisis.
  • The lenders do not verify your credit history.
  • The repayment terms of these loans are decided after considering your capability of paying the monthly installments.
  • Interest rate is much higher when compared to other finances
  • Lenders could be easily approached through internet

Types: You could be benefited by bad credit advances in three ways:

(a) Secured: For obtaining secured loan, there is a need for collateral. You could avail an amount of £5,000 to £75,000 with a repayment term of 10-25 years.

(b) Unsecured: These are short term loans and you need to repay them within a short span of time. You have do not need to put anything valuable as collateral, in order to avail the unsecured funds. You could get an amount of £5,000 to £25,000 with a repayment term of 6 months to 10 years.

(c) P2P credit: Currently, there are a few companies that offer a new type scheme called peer to peer (P2P) credit, which is also accessible on their websites. Once you register on a P2P site, the lender will approach the credit rating agencies to check your repayment history with other financers in the market. This site will provide the details of various prospective lenders.


· Getting an approval for this credit is much easier than the personal loans.

· Since the lenders do not run credit checks and operate online, you can get the much needed funds faster than you expect.

· Many lenders design a flexible repayment plan, so that you can make small payments towards the borrowed funds. Such installment plans ensure that you pay the outstanding amount back in time.

· The best part of such a credit is that you need not to worry about your past credit record since the lenders do not bother much about it. All they need is assurance from you that the borrowed funds will be paid back including the interest on it within the specified period

· Such advances also have the advantage of lending you higher amounts in a short span of time. However, you must remember that higher the amount, higher will be the interest that you pay on it.

If you are wondering where to start from when in need of funds for your emergency, then you could look up the most preferred source of information, the internet. There are a number of financers who offers their services through their websites. However, in order to get a good deal, you’ll need to do a little groundwork about the company you want to approach. By doing so, you’ll not only know what they have to offer, but also find out if they are genuine. Once you are convinced with what you see on their websites, register online and apply for a bad credit loan.

About Harry Pearce: Patrick Coombe has written this article. In his posts, he explains about how we can handle urgent finance requirements by applying for loans online. You'll also like to know more about getting quick approvals on car title loans San Diego by visiting their website.

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