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Informative News Regarding One year Loans
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Publish-date-icon August 13, 2012
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Are you living paycheck to paycheck? Are you constantly confronted with unexpected occurrences such as car and house repairs? With no money left, your only option might be asking a family member or friend to gain access to money. However, you just realized that you've still got a few outstanding debts with individuals. After you are left to reflect on where one can obtain a small, short-term loan inside a limited time period. A lot of companies can meet your financial need with the provision of 12 month loans.

What are One year Loans?

Twelve month loans are short term loans that allows you to borrow as much as $1,500 to cover expenses such as car repairs, house rent, or pending bills you might have had to delay due to a lack of funds.


Requirements for Securing a One year Loan

To be eligible for a a One year loan, you have to be a US citizen, 18 years or older, employed, and also have an energetic checking account. Whether you've good, bad, or perhaps in between credit you are able to still obtain a loan, so long as you match the loan's prerequisites. Applying for these financing options is a very simple process. Visit the website associated with a One year loan provider, and finish the borrowed funds application. The form requires you to choose financing option. These options include Pay day loan, cash advance, debt consolidation, consolidate a bill, do it yourself, auto loan, and bankruptcy. After selecting a loan option, you'll be asked to supply the loan amount, your company name, address, date of birth, home status, license information, cell/home/work telephone numbers, email, and also the best time to call. Furthermore, you'll be required to complete your job and bank account information. Once you submit your application, you may expect a response within a few hours.

Pros and Cons of Twelve months Loans

When trying to get a 12 month loan you are not required to pledge collateral or security. Additionally, you do not have to worry about your credit history, since the application is weighed heavily on your employment as well as your capability to repay the loan. An execllent advantage of these loans is that your application could be approved inside a few hours, unlike the standard bank loans which could take a couple of days or weeks depending on the type of loan for which you are utilising. Although your application may be approved inside a few hours, you need not worry about having to repay the borrowed funds immediately. You will be given a loan repayment tenure of 1 year. Take for instance, should you be approved for a loan in March, you'd be required to repay that loan by February next year. You can opt to spend the money for loan off within days or weeks of your approval; or repay the loan via monthly payments. The only real disadvantage to getting a 12 month loan is the rates of interest you have to pay around the principal borrowed. Interest rates change from lender to lender and could increase if you decide to extend your repayment plan throughout the main one year tenure.

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