People who have bad credit issues can’t think of opting regular secured loans from banks and typical lenders. They ask you to arrange guarantors and submit the collateral. In this hectic world, it is not feasible to run after people and request them for co-signing your loan application. Moreover, people run away from you due to your bad credit history. Pledging your house to avail funds is also not a good idea. Unsecured personal loans for bad credit relieve you from all hassles, worries and financial troubles.
We summarise here some of the top benefits that you can gain by applying for these guaranteed personal funds with a direct lender only:
Direct Lending Companies are MORE Trustable
It is better to avail personal funds from such companies only. They are highly reliable and least interested in giving you troubles. You can expect legitimate financing solutions from the FCA certified lenders. They keep their online lending platforms highly secure by using the latest technology. The basic information that you fill in the online form of their websites is completely safe. They never share your details with anybody.
More Chances of Quick Approval
Typical lending companies give approval in minimum 7 days and by that time the loan aspirant misses various repayment due dates. So, delayed approvals increase more financial woes. However, the online direct lending institutions take positive decisions on your requests in maximum 3 working days. Some of them even give instant approval in 5 to 15 minutes also. People who live on rent are eligible to get the guaranteed approval on tenant loans.
Numerous Affordable Deals with No Extra Charges
Although the funds are unsecured in nature, still online direct lending companies charge low APRs and offer one of the cheapest deals to their customers. These deals are feasible because they don’t charge upfront fee, processing fee, and other extra fees. Moreover, they offer various discounts on the deals and hence an applicant has a fair chance to get the cheapest deal.
No Hassle of Guarantors and Collateral
Co-signing by a guarantor and submitting collateral are one of the worst hurdles that you face while applying for the loans with mainstream lenders. However, online lenders offer you guaranteed loans without guarantors on easy terms. There are no risks of losing your assets even when you default the loan. Taking help of a broker is not good as he may ask you to bring a co-signer.
Quick Online Application with No Documentation
Earlier, the life of a loan applicant was so hectic. He was required to visit the office of the mainstream lender with all relevant documents. Heavy rush and a long queue were used to welcome him. He didn’t have any choice except to take a few day leaves from the office. Online direct lenders don’t ask you to go through the same procedure. You can apply with them by sitting in your home only. There is need to go outside or take leaves from the office. 2 minutes are enough to fill the online form.
100 % Lending to Bad Credit People
Prior to the advent of financial technology (FinTech), bad credit people had no choice except to pledge their valuable assets with the typical lending companies and banks. Now, they have hundreds of choices thanks to the online direct lenders. Fresh and viable deals are available to them with no extra charges. They can borrow instant money despite being bankrupt or CCJs. Online direct lending companies are assisting them to get rid of bad credit issues in no time.
Easy Repayments through Instalments
With so many expenses and lower earnings, you can’t think of clearing the debt in a few months. You need some time to regain financial stability and hence it is better to repay the availed unsecured personal loans for bad credit in monthly instalments. The tenures vary from 6 months to 15 years. You can choose the tenure as per the availed funds and your repayment ability. The online lenders offer up to £50,000.
Numerous personal loan lenders in the UK are working 24×7 just to offer you the required money. Choose the best one now and fulfil your financial requirement in no time.