Bad Credit Instant Cash Loans: for Immediate Monetary Needs

by : Michael Moore



Need cash urgently??? But your bad credit status is creating hurdles. Well don't worry anymore, avail bad credit instant cash loans. Bad credit instant cash loans are specially designed for people suffering from bad credit history. If you are facing arrears, defaults, CCJ, IVA, bankruptcy etc, you won't face any problem as far as availing an instant cash loans is concerned.

The credit score of FICO ranges from 300 - 850 points. A person having a score of more than 600 points is called as good creditor and the one having credit score of less than 600 points are tagged as bad credit borrowers. If you belong to the latter category you are eligible to avail bad credit instant cash loans.
Bad credit instant cash loans are available in two forms, namely secured and unsecured. To avail secured bad credit instant cash loans you will have to place one of your properties as collateral with the lender. This can be any of your personal properties like car, home, jewelry etc. by placing collateral you can avail bad credit instant cash loans at competitive interest rate and with flexible terms and conditions. On the other hand unsecured bad credit instant cash loans can be availed without placing any collateral against the loan amount. Unsecured bad credit instant cash loans are risk free but they carry very high interest rate compared to secured one. Lenders charge high interest rate to minimize the risk factor. Also the terms and conditions of unsecured bad credit instant cash loans are rigid, thus making them harder to pay back.
Bad credit instant cash loans are short term loans. The repayment period generally matches the next payday of the borrower. It ranges from 2 - 4 weeks. The loan amount that can be availed with bad credit instant cash loans ranges from ?100 - ?1500. Lenders advance the loans to people having full time job and regular source of income. Also the income should be at least ?1000 a month. Borrowers must have a regular checking bank account and must be 18 years of age or above in order to be eligible to avail bad credit instant cash loans.
Best thing about bad credit instant cash loans is its approval time. It takes very less time to get approved and the loan amount is actually transferred to the borrowers account within 24 hours of approval. You can use bad credit instant cash loans for all your urgent cash requirements like medical bills, car repairs, electricity bill etc.