Sunday, November 21, 2010

6 month payday loans blessing for bad credit owners

No finance lending organization will like to lend money to a bad credit holder as there is no collateral put forth by the borrower and there is no assurance that the borrower will return the amount borrowed. But unlike others 6 month payday loans lend money to bad credit holders without credit check.

You can get these funds in hand within 24 hours as they are to be applied online. The application form is free of cost. You must see to it that you give in the correct details as required it includes your resident proof, contact number, I D proof, active bank account number, employment letter and so on.

The data is than verified by the lender and the amount is directly credited to the borrower’s bank account in few hours. As there are advantages in this scheme there are also some disadvantages like they are charged with high interest rates because of their instant approval.

The amount one can avail under these advances is £80 - £1500. And the repayment period is 6 month. The repayment period is sufficient enough to arrange for cash to repay the borrower amount as the amount is very small.

The sum can be used for any need such as clearing you pending bills, medical expenses, school funds, or sponsoring a party or a week end party or it can also be buying a gift for you your loved one.

These advances are only permitted to people who own a citizenship of the United Kingdom and are employed for about 3 months in a UK institution with a regular income of £1000 per month. The borrower must be above 18 years of age he should have an ID proof and should also have a bank account.

There is no credit verification. The instant approval of advance is what makes these funds more attractive.

Summary:

6 month payday loans give you a very big period of time to repay the borrowed amount. They are permitted to the bad credit owner without any credit check. They are a blessing for bad credit holders.

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