News & Resources

Six-month short term loans help consumers with bad credit

Jan 28, 2011 Todd Milner

It's impossible to tell what the future will hold, especially when it comes to finances. No one knows if or when they will be faced with sudden financial difficulties. Luckily, short term loans are available in many states to help consumers make ends meet in a dire situation.
 When consumers need cash fast but have bad credit or no credit, short term lenders come to the rescue. They offer an escape from the tedious, prolonged process of obtaining a loan from another financial institution. This avenue may not even be an option for consumers who need cash quickly to cover a looming utility bill, emergency car repairs or another urgent need. These loans are for six months, so consumers have a longer time to pay them back. They do not require background checks or collateral, and you can obtain them "even if you have defaults like arrears, late payments and foreclosures," explains the website Self Growth. All that is needed of people asking for a loan is proof of citizenship, an active bank account and regular employment. Consumers must also be at least 18 years old. Many short term lenders allow consumers to apply online as well.