The borrower is not required to pass under the formality of
credit check. Therefore, people with poor credit ratings are also welcome to long term
payday loans. The bad credit holders with all their problems of arrears,
missed payments, defaults can apply these loans simply by ensuring that donors
of repayment capacity. Lenders favor providing funds ranging from £ 100 to a £
1,500. The period of time to repay the loan amount is 1 to 14 days. Being short
term, long
term loans are available at relatively high interest rates.
To be eligible for 3
month payday loans, you must qualify by fulfilling certain conditions. You
can get the loan if you are employed on a fixed income in recent months in any
organization against the standards of the company. A valid checking account is
also required for the transaction to take place. Last but not least, you must
have attained the mandatory age of 18 years. Once you have met these
conditions, the approval comes instantly. In fact, the amount is transferred to
your account within 24 hours.
The only major concern of 3
month loans is that lenders charge slightly higher interest rates, making
it an expensive option. But then a detailed search encompassing both
traditional and online market will help you to locate lenders offering the
loans at competitive rates. http://www.ukonlinefinance.co.uk/long-term-payday-loans.html
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