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.

Check Out This INFO-GRAPHIC about bad credit loans.

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