No Guarantor No Fees Loans

Jan 18, 2013 by

Can you say for sure that you income is sufficient and you do not need any extra money to meet sudden cash requirements? Difficult to say, right? Economy is far more sinister that you can actually think of. You never know what exactly is going to happen the next morning you turn on T.V. set to learn about the recent drifts in economic environment. Next morning you may be greeted with sudden spikes in prices of everything you lay your hands on! That’s how inflation works! It is cruel and it appears suddenly!

Forget about inflation. What happens if tomorrow there is a medical emergency in your family and you fall short of cash after paying all your bills and spending money for your basic requirements? Where will you go for some extra cash? What if you need some extra cash for repairing your vehicle and you have a bad credit history for some reason? Who will give you cash? Every lender will first take a look at your credit history and judge your credit worthiness and hey, there is a red dot on your credit history! Do you think the lender will have the confidence to give you loan at prevailing interest rates?

This is when you need no guarantor no fees loans. These loans have a very popular name and are referred to as payday loans. They are not dependent on credit history of the borrower. Here is a list of salient features of the no guarantor no fees loans:

  1. No credit checks conducted by the creditors.

  2. Loan amounts are generally low and range between £100 and £1,000.

  3. The loan applications are processed nearly instantly and the money is credited to the bank account.

  4. There is no need of any guarantor for taking out these loans.

  5. There are generally no prepayment charges.

  6. The loan amount needs to be repaid with the next pay check.

  7. The rate of interest is very high for no guarantor no fees loans.

  8. You do not need any broker to apply for the loans and hence, there are no fees.

What do you need to apply for this type of loan?

There are a few requirements that you need to fulfil in order to apply for no guarantor no fees loans. The requirements are listed below:

  1. You need to have a job. More importantly, the job needs to be permanent and you need to have fixed monthly salary.

  2. You need to have a verifiable bank account where you monthly salary is credited.

  3. You need to have a verifiable permanent residence address.

How can you use the money?

Remember, this is not a mortgage loan or a car loan. You are not tied up. You can use it for any purpose you want. You can use it to pay medical bill, you can use it to pay you utility bills, you can use it to fund you birthday party or you can use it to even buy a new mobile. But, be wise! Money is hard earned. Use it for something useful and important. Pure luxury or simple cosmetic use of the money is not justified.

 

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