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12 Month Loans- Improve your poor credit records by availing this financial facility!
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Posted On :
Nov-30-2011
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Article Word Count :
400
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In case of 12 month loans the amount which the lenders lend to the borrower depends on factors like borrower’s present financial status, needs and repayment ability.
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Earlier it was quite difficult to get loan from lending institutions because borrower was required to fulfill several formalities. And if the borrower had a history of poor credit records then it was next to impossible to obtain cash. Unlike earlier times, getting funds through loans is not a difficult job. Lenders offer several types of financial help for every type of borrower. Bad creditors were badly let down by the money lenders. But today lenders offer loans to the bad creditors as well in the form of 12 month loans. This credit facility helps to obtain cash for fulfilling various financial requirements. These loans are offered by the money lenders for helping the poor creditors to get over their financial troubles.
The name itself suggests that, under 12 month loans scheme, all bad credit defaults of a person like CCJs, IVA, bankruptcy, insolvency, foreclosures, defaults, arrears etc are allowed. Thus, any kind of borrower can apply for this credit facility. 12 month loans are available in both secured and unsecured form. Borrower can avail an amount within the range of 5000-100000 pounds for the secured form. The repayment period for this amount is 3 years to 25 years. In case of unsecured form, borrower can borrow an amount within a range of 1000-25000 pounds for a period of 6 months to 10 years. People with adverse credit can easily pay off their past debts with this amount and can become debt free and also they get a chance to improve their poor credit records.
One has to fill and submit online application for 12 month loans. The borrower must provide all the genuine details about himself in the form and after its verification the lender gives sanction to the funds. The loan amount gets transferred in to the bank account of the borrower. If the borrower has issues in repaying this amount on time then he may inform the lender about it and must take extra time for settling the amount. High penalty is charged for delay in repayment. There are some important criteria which have to be fulfilled by borrower if a person is interested to avail these bad credit loans. The criteria requires the borrower to be of minimum eighteen years of age or above, the applicant must have a valid active bank account and a permanent job with minimum monthly salary of 1000 pounds.
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Article Source :
http://www.articleseen.com/Article_12 Month Loans- Improve your poor credit records by availing this financial facility!_112342.aspx
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Author Resource :
Johns Smith is a prolific author who has penned several articles on finance and has quite a few years of experience as the chief consultant to financial consultancies. To find 12 month loans, 12 month cash loans, 12 months loans and cash loans 12 month that best site's you need visit http://www.cashloans12month.co.uk
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Keywords :
12 month loans, 12 month cash loans, 12 months loans, cash loans 12 month,
Category :
Finance
:
Loans
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