FAQ – Loan FAQ
It is very important that while any type of loan transaction is taking place, there should be a series of queries that should be noted. This helps in making sure that transaction can be done in a better manner, without falling prey into the loopholes of the whole system.
- What are the various types of loans available?
Since, we are a company that deals primarily with bad credit loans; we offer Logbook Loans, Guarantor Loans, Payday Loans, Instalment Loans and Doorstep Loans. For each type of loan, there is a wide variety of choice for loan applicants.
- How do these loans work?
Generally all these loans work in a set manner. Since these are specialised loans for bad credit options, they can be accessed and acquired within a very short time, with high rates of interest against minimal collateral at times. However, for most of these loans, collateral is not at all required. So within a certain rate of interest that is quite high in most cases, and a long repayment period, you can be assured that your loan can be applied for easily and accessed within a short period of just 24 hours in most cases.
- How can I payback my loans?
Normally a certain time period is given within which payment can be done. Also, in case a person wishes to make a monthly payment; that too is allowed. This payment mode becomes easier for the borrower.
- How quick is the availability of the loan?
In most cases, these loans are needed on emergency purpose. Hence, these loans can be transferred to the debtor’s account within a period of 24 hours. This whole system is free from any technical or economic hassles and takes even less time for approval.
- What will be the effect on interest rates with changing economy?
Once the loan is taken for a certain period, the rate of interest remains unchanged. There can be changes in general interest rates; however that would not affect that specific loan.
- How to apply for this loan?
The whole application process is quite easy. The Home Page needs to be visited. The Apply for loan button is to be clicked there and then Personal Details are to be filled in the given online form. Once this is done, the application process is completed. After this, the whole application processing and finance transaction process will be completed within a specified time.
- Is bad credit an issue?
Since we are specialised in providing loans to people with bad credit, hence for people, who are having a bad credit account, it is not much of a problem for them.
- Will my credit get affected in case of any such loans?
Since you have stood as a guarantor, so in case of short term loans, your credit score will definitely be affected.
- Why are funds transferred to my account?
Funds are transferred to your account as per our security procedure. As you are the guarantor, so you are bound to get the money.
- Why are my personal details required?
Each and every personal detail is associated with our regular security purposes. We need them to conduct our regular checking purpose and speeding in the whole loan application process.