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12 Month Loans

 

12 Month Loans May Be The Solution You Are Looking For

Given the variety of options that are available when it comes to short term loans, it makes sense to look for the option that is most suitable to your needs and financial situation. There is no getting away from the fact that there has been an increasing array of short term financial solutions, which is a good thing for consumers, but there is a need to think about which option is best for you.

Given the variety of options that are available when it comes to short term loans, it makes sense to look for the option that is most suitable to your needs and financial situation. There is no getting away from the fact that there has been an increasing array of short term financial solutions, which is a good thing for consumers, but there is a need to think about which option is best for you.

Every applicant is different and indeed, every short term loan can be different. One applicant may require a short term loan to pay for one unexpected bill of a modest amount, which can be paid back within one payday whereas another applicant may receive a much larger bill that could only be paid back over a longer period of time. This is where instalment loans provide a great benefit to users and there is no doubt that a 12 month loan is likely to be a great solution for many users.

This style of loan is broken down into easy instalments

A 12 month loan will be broken down into 12 equal instalments. This provides consistency for the user, but it will; also provide them with a greater likelihood of being able to pay the loan amount back. Ultimately, the total amount of money that is paid back will be higher, but this is due to the length of time, which impacts on the interest. Due to the loan being paid back in 12 equal instalments, each individual payment will be lower, better fitting in with people’s disposable income for each month.

This is the key aspect of 12 month loans, because it fits in with what people are able to pay, which should always be a number one consideration when it comes to taking out a short term loan. While unforeseen things can happen from time to time, an applicant for a short term loan should always have a degree of confidence when it comes to paying back their loan. Being able to spread their loan payments out over 12 months will provide a much higher degree of confidence for each user, which is very important when dealing with all financial matters.

When it comes to obtaining a 12 month loan, the same criteria for shorter and smaller loans is likely to be applied. This means that applicants prefer the online or over the phone application process associated with short term loans will find that they can make their loan application with confidence. This is a major benefit of applying for a 12 month loan.

You can receive a stronger level of funding from this style of loan

Another major benefit of applying for a 12 month loan comes with the fact that there is an opportunity to apply for a much larger level of loan. A payday loan will commonly be on offer for sums of money ranging between £100 and £1,000. When it comes to obtaining a 12 month loan, it is far more common for these loans to be available for sums of money between £500 and £2,000 or even higher amounts of money. A 12 month loan is the ideal point between standard short term loans and the more traditional loans that are on offer from banks and building societies. If you felt that there was no middle ground between a short term loan and the traditional loan, a 12 month loan may provide you with the solution that you are looking for.

The strongest part of the 12 month loan is the fact that it offers the best of both worlds. It offers the speed and convenience that is normally associated with short term loans but it provides the sort of financial support and backing that is more commonly associated with major financial institutions or backers. When it comes to receiving funding support in a manner that is best for your needs, you should look into the support provided by 12 month loans.

 


3 month payday loans are the ideal length

I can never stress enough how important it is for customers to explore the different financial options they have available when they are looking to obtain finance. It is never just wise to apply to the first lender that comes along for the first loan that is being looked at. People may not realise that the way to borrow money has changed recently, for example people can look to obtain short term loans such as single or 3 month payday loans that will be repaid over a number of months. Instalment loans can also be taken out and these typically have longer repayment terms. Other finance can include car finance when a car is purchased and then repaid back on a monthly basis and also credit cards are also common. They allow people to pay for items or possibly withdraw cash on credit. All of these are very common ways of borrowing money. After selecting the product the customer must then select a realistic amount to borrow and then know that it can be comfortably repaid back. The lender to apply through is another common question that needs answering. This can be a hard choice as there are so many different lenders available for selection and some out there will definitely be better than others.

As mentioned briefly payday loans are a very common way of borrowing money. This is a type of short term loan that requires people to borrow relatively small amounts and then repay with interest on their next payday. This way of borrowing should only be used for short term financial reasons and should never be considered as a long term borrowing option. Most payday loan lenders out there charge around £30.00 per £100.00 borrowed by the customer but this may be different through some lenders. That is a large interest rate considering people can only obtain this product for thirty days as the maximum duration. There are definitely cheaper ways to borrow money. A payday loans has benefits in the way they can be applied for quickly and if the application is accepted people can receive the money the same day of applying. Payday loans are also common loans for people to borrow who have poor credit meaning they get declined for most other finance.

Now as a borrowing alternative there could be the 3 month payday loan. Similar to a payday loan in the way people can receive free same day funding if the application is accepted and they can definitely look to lend to people with poor credit however this 3 month loan product offers more than just the single month payday loan. This product can give the customer flexibility whereas the basic loan cannot. People can borrow a set amount to similar value than a payday loan yet they can repay over any period up to three months instead of trying to clear the balance in one go. It can be common that this loan however more may be due overall to the lender yet the repayments can be managed much easier than the full balance being due in go like on a payday loan.


For Payday Loans, Make Sure You Use Payday Loan Direct Lenders

 

 

Now that we’re familiar with the malpractices of payday loan brokers, we need to understand what makes payday loan direct lenders such a viable replacement. Payday loan brokers, as explained before, essentially leverage on the lending ability of direct lenders by submitting applications on your behalf, while pretending that it’s their money that they’re lending out to you. While this happens, they impose obscene interest rates that are far above the market rate and in a sense, end up scamming financially uneducated consumers. It’s nothing short of horrible and thoroughly ridiculous.

 

Payday loan direct lenders, on the other hand, are designed as honest businesses that ensure their sustainability through fair charges. This means that they would never impose the additional charges on you like how payday loan brokers do. They have a much larger presence in the payday loan market, which means that they cannot afford to tarnish their reputation by making you pay for services that are being offered for free. Applications that are submitted are meant to act as leads for payday loan direct lenders to vet through and determine whether they’re viable candidates to take out a payday loan. Since the nature of their business revolves around issuing out loans and having interests paid to them as compensation, there really is no need for them to conduct their businesses in such a dishonest manner.

 

In fact, payday loan direct lenders will always guide you through their application processes and patiently explain to you the factors that are involved in their consideration for the acceptance of applicants. It’s important for them to educate their borrowers about the dangers of payday loans and talk about the reality of their dangers. Most direct payday loan lenders would have warning signs displayed on their websites to inform borrowers about the risks that are involved and that taking out a payday loan should be taken seriously just like any other type of loan. Falling back on a payday loan can be far more expensive than what it seems, but as long as you handle it appropriately, there shouldn’t be any reason for you to fall behind on your repayments. Payday loan brokers, on the other hand, would attempt to attract borrowers by offering marketing gimmicks such as free gifts to lure borrowers into taking out loans from them. It’s sneaky and it works for tricking financially uneducated consumers.

 

Payday loan direct lenders are the honest and professional counterparts of payday loan brokers. Identifying a payday loan direct lender isn’t as hard as it seems. All you need to do is look out for a secure sockets layer certification (SSL Certification), business registration numbers and a moneylending license. All these components contribute to a payday loan direct lender being responsible and serious enough to obtain the appropriate documentations. Payday loan direct lenders will always have all these fundamental certifications in check before they proceed to lend out loans, making them reliable options. The risk of taking out a loan from a payday loan broker is completely unethical, and it should be avoided at all costs.


The Short Term Loan Application Process

Applying for a short term loan is fast, simple, and a lot less complex than other types of loans. This is mainly due to the sum of the loan being relatively small, which allows for less stringent restrictions. For example, short term loans don’t require the borrower to have good credit. In fact, most financial institutions that offer short term loans practically ignore any sort of credit rating. Also, you can borrow a figure of up to two thousand dollars, depending on the money lender’s policies. Money lenders that offer short term loans don’t need to know the use of reason or purpose for you borrowing the money, allowing you to use it for private transactions and purchases.

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The application process for short term loans can be completed within days, including the transferring of money to your account. There aren’t a lot of factors for the lender to consider, and any risk involved for the lender is mitigated by adjustments in the interest rates. This alone is sufficient enough to allow the financial institution to feel secure enough to loan you the money. Since the factors to be considered for risk determination are fairly limited when it comes to short term loans, the borrower is able to enjoy significantly shorter waiting periods as compared to other types of loans.

 

Applying for a short term loan mainly involves filling out an application form and providing the necessary basic information. This includes personal information, bank account details, employment information, and contact details. All applications and monetary transactions can be conducted online, providing the lender with the ease of convenience. However, depending on the financial institution, you also have the option of physically filling out the form at the establishment’s office. This is also entirely up to your preference as it’s relatively safe to assume that most, if not all, private money lenders are fully capable of operating online.

 

Explaining the terms and conditions of the short term loan is as simple as a mere phone call. If your application is approved, you can expect to receive a phone call from the money lender’s staff, to discuss your payment period, interest rates, and other details regarding the short term loan that you’re taking out. Also, if you were to encounter any difficulty in understanding the commitment that you’re assuming when you take out a short term loan, most online money lenders offer you 24/7 customer service support. So all you have to do is clarify your enquiries with a customer service officer.

 

It’s evidently clear that the process of taking out a short term loan is simple, fast, and incredibly convenient. Having access to immediate emergency cash has never been simpler. Additionally, some money lending establishments boast about being able to complete their short term loan processes within 24 hours. This is an extra benefit that potentially allows the borrower to gain instant access to funds within the same.


Short term loans are replacing payday loans

The nature of payday loans is to impose serious financial risks on the individual who takes it up. Every day, there are an escalating number of people who land themselves in incomprehensible amounts of debt. The amounts are so significant that some of them would even require an entire life time to pay off. This has been a growing epidemic, with hordes of uninformed money borrowers making poor financial decisions, which cause unnecessary difficulties for themselves and their families. However, since the introduction of short term loans, there is a larger window of hope for this issue to finally be resolved.

 Short term loans are fairly designed. Instead of maximizing moneylending’s profitability to obscene standards, short term loans adopt a more humane approach. They are positioned to be a safer form of credit in comparison. This is due to its forgiving nature, and minimizes the incurring of accumulative interest rates; which are the main cause of financial debt. Some moneylending institutions deliberately choose to exploit the lower income segment of the population, all for the sole purpose of feeding their greed.

The thing about short term loans is that they do not agree with similar principles. Instead, it maintains a sense of professionalism through its ability to be profitable for the lender, while being merciful to the borrower. Instead of exploiting, short term loans are designed to leverage on the sheer quality of it being a more viable alternative. The intended result is to increase the quantity of borrowers by offering them a more financially secure credit alternative.

Since the implementation of short term loans, the response has been overwhelming. Plenty of money borrowers with different amounts of income tiers are porting from pay day loans to short term loans. Most of their reasons include them feeling safer with a short term loans, as well as the fact that its interest rates adopt a more attractive model. All of this is offered with short term loans, simultaneously incorporating the positive elements of payday loans into it. These positive elements include the benefits of flexibility, less stringent requirements, and fast approval rates.

As long as the response rate continues on its current route, short term loans are predicted to completely replace pay day loans. This being an ideal result, is bound to reduce the number of cases of people falling into debt from taking up payday loans.