No Risk Money for Bad Credit Holders

By: Karen Wardman

Many times we are forced to make compromises with our personal desires like buying that good vehicle, holiday trip on any exotic place or giving a precious gift to our beloved. We plan so many things but every now and then we fail to do all those things due to lack of money. Limited income and uncontrolled expenditure may have labelled as you as a bad credit holder. This is the time when one goes for a loan; but if you are not interested in keeping collateral then unsecured bad credit personal loans are the perfect choice for you.

As the name itself suggests unsecured bad credit personal loans are the personal loans for bad credit holders who are not interested in keeping collaterals against the loan amount. The reasons being you are not willing to take risk on your property or you may not have any property to keep as collateral. As explained these loans are for bad credit holders. You will regarded with bad credit if you have the following - CCJ` s pending against you, irregularity in repayment, bankruptcy and so on. Unsecured bad credit personal loans can be used for any purpose there is no restriction at all.

Unsecured bad credit personal loans - amount and interest rates

Through unsecured bad credit personal loans you can borrow an amount of up to ?25000. The amount may vary sometime depending on specific circumstances. The interest rates for these loans can be sometimes as low as 9 % but the lender may demand higher rates because of no collateral being involved and you possess bad credit. The interest rate may also vary according to the repayment period, longer the period higher the rates. Repayment time period varies from 3 to 15 years.

Availability

There are many different options available in the market you can find many online. So it is always advisable to go through, if not all, then at least most of them. And never forget to read the terms and conditions of the lender carefully. Go for the one with which you are more comfortable. And apply for the loan.

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