What is the way to get a bad credit instalment loan in UK?

A bad credit report could be really an obstacle especially in the time of financial crisis. Nowadays, all the lenders are very over-particular about the borrower they are lending money to. This means that the loan application with a bad credit history could be rejected and that will affect the credit history even more. But there is always a way out. It is still possible to get a payday loan with a bad credit history. It will depend on how much money a borrower want to borrow and the lender will rely more on the current status and the source of income. Credit history is important to the main stream banks because they are taking a long term risk and if anyone stops paying the amount there is not much they can do about it. Let’s look at the way a consumer can get a bad credit installment loan in the United Kingdom.

Bad Credit Loan Providers

Fast loan solution is a kind of financial solution provider who is delicately working for the people in the UK. They provide bad credit loan solutions. Their payday loan solution is becoming popular day by day because of the ease, the speed and their no credit check online application facility. The gist of the business is they are providing a borrower with a cash advance until his next pay check is given on the basis of his current job. Because the amount borrowed is generally smaller, exactly the amount needed to cover up the financial emergency, the lender knows that as soon as the borrower gets paid, they will have money in the account to repay the debt.

With Fast Loan Solution, it is easier, safer and quicker. Borrowers can apply for a payday loan through an online application form and they would be matched with the most appropriate direct lender in the UK. After the application is approved, the borrower will get the money transferred directly to the bank. The whole procedure will take only a couple of hours even sometimes a couple of minutes depending upon the bank and lender in the UK.

Payday and Instalment Loans in UK

With Fast Loan Solution a borrower can borrow from £100 to £1000 payday loan and instalment loan depending on their requirement and the repayment time is also flexible. It is up to 28 days for payday loan and 180 days for installment loans with a reasonable interest rate. Instalment loans carry significantly lower interest charges, and borrowers are easily able to repay in payments over monthly payments rather than all at once.

After the loan is approved the borrower will be informed about it and the expected time to transfer the fund in the bank account is instant. This is indeed a unique feature. All a borrower needs to apply for a loan from Fast Loan Solution is to be 18 years old UK citizen and have a stable source of income. Any borrower fulfilling these criteria can apply. For details prospective borrowers can visit www.fastloansolution.co.uk

Payday loan is a temporary solution in the time of financial emergencies. They should be availed and spent prudentially. That’s why it is suggested to read the terms and conditions carefully before applying for a loan. Interest rate and fees are reasonable for a shorter period of time but if it is missed the amount will mount up at a high rate. At the end of the day a borrower needs to decide how a payday loan is going to help to cover up the financial crisis.

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Bad Credit Loans for Financial Freedom

Do you feel like you have been refused your right to financial freedom? It is not unusual to be surprised by rejection from a financial institution regarding a form of credit. Many residents suffer with bad credit without any prior knowledge. Only when a loan or financing opportunity is disapproved, consumers are presented with the knowledge of their bad credit history or low credit rating. It is absolutely normal to have poor credit rating without any significant activity in a consumer’s credit history.

Consumers with bad credit should not think of financial freedom as a battle that cannot be won. Those who are pursuing credit in the form of credit cards, home finance, car finance, and personal loans must have excellent credit. Bad credit loans are not necessarily anything that compromises the lending agreement. Bad credit loans are short term lending options which eliminates the risk of long term commitment from both borrower and lender.

Path to Financial Freedom

Long term loans such as credit should be avoided since it may damage your credit rating further. Your bad credit score will affect how much you can get as a loan, for how long and even how much interest you may be charged. So if you have bad credit, you should be even more careful in pursuit of loans. Short term lending options are much more secure as you do not have to be involved in a long term commitment. In order for you to advance in the path to financial freedom, you must be adapting your lifestyle to live on your earnings rather than in credit.

If consumers are in need of credit, then they will be better in pursuit of unsecured personal loans which do not require any security deposit or guarantee for repayment. Fast Loan Solutions is a short term lending service provider exclusively for consumers residing in the United Kingdom. Consumers can use short term loan options such as payday loans and instalment loans to meet their emergency cash needs. This allows them to temporarily get credit for a short time without any hassle of paperwork or a lengthy period of commitment.

Responsibility in Lending Actions

Fast Loan Solution offers payday loans and instalment loans starting at £100 ranging to as much as £1000. These loans can be availed for short term commitments as little as 7 days ranging up to 180 days, or 6 months. This is the most suitable alternative form of credit which is most appropriate for consumers with bad credit. 

Furthermore, consumers should still ensure that they are responsible in fulfilling the terms of the agreement. Consumers should understand their responsibility and make timely repayments. The breach of terms of agreement may result in potentially harmful consequences to their credit rating. So it is most important that you take well-informed decisions. The best way to financial freedom is to lead a debt free lifestyle and in case of emergencies, you can pursue short term loans. 

Although not as high commitment as long term loans, short term loans are still loans which should be repaid. Government regulations ensure that lenders are fair and ethical to provide the utmost security.