More often than not you are never expecting a financial crisis and may freeze at the thought of having to repay an unexpected bill immediately, but without the funds in place. Whilst some people would choose to ignore it and hope it goes away, others would apply online for a quick and easy solution - enabling them to borrow up to £1,000 the very same day.
An emergency loan is a quick, hassle free way of borrowing an unsecured cash loan over a period of one month. You can usually borrow any amount from £80 to £1,000 depending on the lender, but many (if not all) will offer no credit check, resulting in a greater amount of individuals applying for this form of cash loan, as it is not just open to people with good or excellent credit histories.
Usually borrowed over a period of one calendar month, an emergency cash loan allows the borrower to apply for up to £1,000 with no credit check and simply repay the loan back from using their next salary cheque. As with conventional forms of borrowing, there are certain conditions and criteria they must be met, but as a rule of thumb if you are a UK resident, 18 years, in employment and take home at least £750, you could be approved today for the cash loan.
The amount you borrow will determine the interest charge you repay and this can vary between lenders. I would always therefore urge an individual to check various online financial organisations, to ensure you are getting the best deal available for the amount of money you require. Once you have chosen your preferred cash loan lender, ensure you clearly understand the criteria of the loan, such as how much interest and other fees you are responsible for, when the loan is due to be repaid and how many repayments there are. Whilst many will allow the loan to be paid back in one payment within one month's time, some will provide you a longer period to repay the loan, but request two repayments to be made on dates stipulated by the lender.
Remember that no matter whether you have a poor, bad, good or excellent credit history, emergency loans mean that there are no traditional credit checks and therefore even if you have a particularly poor credit history, you are still encouraged to apply. Whilst many high street banks would turn your loan application down, getting approval for an emergency loan of up to £1,000 is easier.
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