Asking this question means you have gone through the stress of unemployment. Loan application denials, frauds by the brokers in the name of providing guaranteed loans, fear of high-interest rates, time-consuming procedures of the traditional banks and what not? You have had enough drama in your life due to your ‘unemployment’ status.
Perhaps it is the time to think about the no guarantor loans, which may be the only hope for you.
The reasons below will answer all your doubts.
No guarantor required
These loans do not demand for any guarantor. After all, what else can an unemployed person with bad credit can ask for. The biggest hurdle has been removed, now you can easily get a loan without putting your precious asset on risk. Obviously, for a financial need of today you cannot cloud your future with further uncertainties for any of your property.
You get loan without any credit check
In the direct lending, the concept of soft credit check which is also popular as the no credit check is giving great chance to countless borrowers to improve their financial records. The soft credit check does not leave any negative impact on your credit score. Lenders just take a quick look at your credit history, but do not assume it as the reason to reject the loan application. In fact, they are ready to offer guaranteed loans for unemployed, irrespective of your bad credit history.
Easy repay schedules
The online lenders prepare easy to afford, repay schedules, for their clients. This again is a good thing for low credit borrower. How? Well, it is quite simple. With easy repay schedules, you will be able to repay your monthly instalments on time which in turn improve your credit scores. And with an improved credit record, next time you can easily apply for a loan in some mainstream bank.
The online loan market of the UK is brimmed with numberless instant loans for various financial needs. You will find competitive counterparts of different types of loans like no guarantor, guarantor or greenwoods doorstep loans. Actually, the ball is always in your court, one smart decision and all your financial worries will fade away.