Guide to finding 12 month loans with bad credit

If, like many others, you have fallen into financial trouble in the last few years then it won't be surprising to learn that many lending institutions now see you as far too high a risk to lend money to. Despite the fact that these very same lending institutions were the ones who caused the problems we are now facing globally, they have the final say when deciding who to lend to and who to avoid.

With a bad credit rating this means that you are completely out of luck if you need to borrow any sum of money whether you are looking to consolidate your debts into one manageable repayment or you need some money for a personal emergency.

This means that many people now find themselves in a hopeless situation from which they can see no escape, but never fear! Once again we have donned our research caps in order find a solution that could help you get your financial dealings back on track relatively quickly.

Due to the increasing number of people looking for these kind of services, you'll probably have noticed a sharp rise in the amount of businesses now offering customers 12-6 month loans, even with bad credit ratings.

Whether you've fallen into debt after losing your job, have a CCJ or IVA against your name, or suffered a hit to your credit rating after falling behind in your mortgage repayments, these companies can offer you a way out - however, it will be at a price.

Due to the short duration of these loans, you'll be able to take out small sums of money over short periods without needing to undergo a credit check, meaning that you can finally start to dig your way out from under that mountain of debt.

The downside is that the interest repayments that accompany these kind of loans can be quite high - often up to 25%, so you'll need to be absolutely sure that you're going to be able to pay them back within the allotted time frame or you'll face even heftier charges which may well drag you further into debt.

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