Are you among those who are suffering from financial problems? In today’s times, meeting with the day to day expenses is not a simple task. The main reason behind this fact is that most of the people in the UK are salaried class and earn small incomes every month. With limited money in their pockets, they experience a lot of difficulty in meeting their day to day expenses. In such a situation, they do not have any possibility left for any kind of savings. With no are inadequate savings, these people are practically unprepared to deal with the urgent expenses that may knock at their doors in the middle of the month. These days, we find numerous people suffering from bad credit history and such people do not stand any chance in getting cash advances from external sources. In order to provide aid to such needy men and women, the lenders of the UK have formulated the 12 month loans.

As the name implies, the 12 month loans bad credit are those cash advances that are offered to the people who suffer from adverse or bad credit history. They carry the features of the payday loans and come with the advantage of making repayments in small as easy installments over a period of 12 months. Therefore, these loans do not disturb the monthly budget of the borrowers. These loans are available in two varieties-secured and unsecured. The secured variety is offered against collateral. The borrower needs to pledge expensive assets such as property, vehicle or stock against the amount he wishes to procure. The value of the same is ascertained and the lender offers these loans immediately if found at par with the fetched loan.

The unsecured variety of these loans is offered without pledging any assets. Therefore, these loans are very beneficial for the people who do not possess any valuables including tenants, non home owners and those who do not want to risk their assets. The lender charges a high rate of interest for these loans as they are risky for him. In order to be eligible to avail the benefits of the 12 month loans bad credit, there are a few conditions that must be met by the borrower. They include that he must be a domicile of UK. He must be a major at the time of applying. He must be employed and earning a stable monthly income. He must also possess a valid checking or savings bank account where the much needed cash can be transferred. If the aforesaid conditions are met by the borrower, his loan application is approved immediately and the much needed finances are transferred to his bank account to be used for any purpose that needs immediate attention.

Andrea cottell is writing on finance matter such as 12 month loans bad credit, small 12 month loans. For having query related to his content visit: http://www.smallloansfor12months.co.uk/