Majority of the people have bad credit ratings these days. This makes it even more difficult for them to procure a loan. No need to worry any more because with bad credit cash loans you can procure the funds that you want. No matter even if your credit is bad. Besides all the stated advantages these loans are approved quite fast.
Bad credit cash loans don't require extensive paper work and you don't have to go through all the trouble to compile your documents and then fax them. All the borrower has to do is fill out one simple single page application form. You can do this from the convenience of your home or office. All the work will be safe and secure. You will get the loan within 24 hours even if you have bad credit. The money is transferred to your account after the approval of the loan.
Loan amount, interest rates, and repayment period:
The loan amount varies between £100 and £1000. But before the loan is approved the lender sees the borrowers monthly pay cheques. The borrower should have a regular job with a minimum of £1000 of monthly income, you should be above 18 years of age and you need to have a checking account active for at least 6 months.
The repayment date should be according to your payday; generally between 7-18 days. When the due date comes the money is automatically withdrawn from yours checking account. But this will only happen after you are given an authorization to your lender. Borrowers can also give a post dated check If you are not able to pay by the due date the lenders encourage you to take an extension but at the same time they charge you with a heavy fee which makes your interest rate shoot up.