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Long Term Loans Give You 12 Months To Repay

by Jim ONeil on May 19, 2011

in long term loans

When the fixed monthly salary is not enough to pay the daily bills or unexpected expenses, there are other options. Many of these are short-term solutions, requiring repayment within two to four weeks. This may not give some people enough time to get their finances in order.

A 12-month loan may be a more suitable option for a person in this situation.

These are no credit check loans so even someone in default can qualify for funding. Traditional and online lenders offer these but applying online saves time and is more convenient. An individual supplies some personal information on an online loan application and electronically submits the form to the lender.

Comparing lenders allows a person to obtain the lowest loans apr available at that time. Even small earners can qualify for up to 1500 pounds of financing. Loan repayment is made through monthly installments or other arrangements that meet the financial abilities of the borrower.

Since no credit check is involved, a person can apply for this financing at any time.

No documentation needs to be faxed, which streamlines the funding process. An application will not be rejected if a person has a bankruptcy, arrears, CCJ, or even insolvency in the credit history. When people repay the loan according to the agreed-upon terms, they can actually improve their credit, according to the lender.

This is an important aspect of these loans because credit repair can have long-lasting benefits.

Some lenders offer instant decisions following submission of the brief application. This means that a qualifying person needing cash quickly can have it in the bank account within the same day. Online repayment allows a borrower to conveniently begin making monthly payments to reduce this debt.

There is never a need to visit a financial institution in person when taking these no credit check loans.

Catch A Gideon

In the mean time check out other similar sites. I run Successful Personal Finance.com. Like Wil I am trying to educate people on basic personal finance tips that have consistently worked over long periods of time.

I'm also quite young (just graduated from college this year) so I have the same sort of biases with parents and the rest.

Mickie Murray, Crossville, Tennessee

Keep interest rates low and people will borrow money. At least that is the theory. But consider, banks believe that QE2 will end in high inflation and high interest rates. So why would a bank make a lot of long term loans at low rates when they think that rates will skyrocket in the next year or so. When hyperinflation hits they will be paid back with even cheaper money on top of the low rates. From the banks point of view, slow walk long term loans until things change. Short term is ok but long term, which is what is really needed for growth is out. It is better to just hold on to the money.

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