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Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
Not all loan types and amounts are eligible for 20 minute payouts. Your chosen bank may increase the time you receive the funds.

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Pros and Cons – loans for bad credit no guarantor no fees instant decision  

Often people have some bad credit history in the field of loan and credit in the past, such as they had unable to pay the amount on time or was defaulter on a loan. May be he or she is facing a critical financial situation such as bankruptcy, foreclosure etc. These kinds of bad credit impression make it difficult for them to get an easy loan from the financial institute as creditors have to take a great risk for this kind of financing.  So they are offered loans for bad credit no guarantor no fees instant decision.

Determining one’s credit score

Once credit score is calculated on the basis of the information of his or hers credit reports from three credit bureaus. They give a fair report, whether the person had paid the loan amount,  credit cards bills or any other debts on time or not. On the basis of this calculation the score point is determined.

The range from three-hundred to eight-hundred is termed as lower credit score that means bad credit. The individual having bad credit score, often offered loans for bad credit no guarantor no fees instant decision for facing different financial challenges and to establish a good credit history.

How people can understand that they are in bad credit

There are few specific points which help people to understand their bad credit history they are:

  • If an individual has a huge amount of credit card balance
  • If one’s loan application has been denied
  • If the interest rate of an individual’s existing loan has increased
  • If one’s credit limits has been decreased

When people are facing above situation that means they are in bad credit list.

Requirement of bad credit loan

Bad credit history makes a critical situation for the people. Such as:

  • High interest rate are imposed to compensate the high risk of giving bad credit loan
  • Due to bad credit history their credit application has not be approved by the general financers.
  • People with bad credit history face lot of difficulties to get a rented house
  • This makes a difficult situation to get a job
  • They have to pay a higher insurance premium due to their bad credit history.

To get rid of this entire problematic situation and to establish a good credit history, people have to find a better option and hence, they are offered loans for bad credit no guarantor no fees instant decision.

Advantages of bad credit loan

People, who are required a loan but refused due to high risk, choose the option of bad credit loan for getting some advantage such as:

  • Easily available, people do not need to give much effort for having this kind of loans.
  • The procedures of getting bad credit loans are hustle free and much secured.
  • Instead of their bad loan history they will get a cent percent guaranteed approval for their loan.
  • Though there is no guarantor but payment schedule is much easier.
  • They have online quick money options

With all these advantages few limitations and disadvantages are also there in loans for bad credit no guarantor no fees instant decision.

  • Borrowers has to pay a high rate of interest on the loan amount
  • People can apply for this kind of lone only after 18 years
  • Sometime especially for car loan in case people fail to repay their loan their property may be crocked.