Short term loansBad Credit Loans

Fast Way To Get Loans For 12 Months a Bad Credit

Unsecured Loans for Bad Credit

Most people around the globe are currently struggling with bad credit scores. The main reason for such a trend is the Coronavirus pandemic effects. Indeed, many companies went down, resulting in millions of job losses globally. 

Now, you can imagine what happened to those who lost their jobs. Of course, they had to default on their loans and switch to survival mode. And as a result, they have gotten their share of bad credit history, which was never their wish.

However, financial institutions are working day and night to ensure that they can help you if you need a 12 month loan with a bad credit history. But before you learn how you can access those loans, you need to understand lousy credit first.

What is Bad Credit?

The financial institutions use the FICO score scale to determine your behaviour with loans. Once you borrow any money, most lenders report your repayment patterns to one of the three credit bureaus.

Generally, the FICO score results from your behaviour of loan repayment, the amount of credit you have, the duration you have stayed in debt, and the types of credit you have.

Therefore, if you’ve had a poor repayment of previous loans, you will have a bad credit score.

The FICO scale usually starts from 300 to 850.

  • 300- 579 Poor 
  • 580- 669 Fair
  • 670- 739 Good
  • 740-799 Very Good
  • 800- 850 Excellent 

If you have a credit score not exceeding 580, you will be in a difficult situation since few lenders can consider lending to you. However, a few lenders are willing to help you get short-term loans regardless of bad credit.

What You Need To Get 12 Month Loans With a Bad Credit

It’s not tough to get loans for 12 months with a bad credit. However, you have to pass through vetting procedures before the lender can trust you. Remember that if the lender doesn’t bother with your credit score, there must be other ways they use to lend you money.

  • You must have a steady income.

The economy is tough, and jobs are indeed rare. However, you must put more effort and establish a steady income flow if you want to access 12 month loans with bad credit. Most lenders require you to have a steady income for the previous three months. So you may have to supply them with your bank statement. 

  • You must be an adult.

Of course, you cannot get a loan if you’re a minor. For instance, you must have more than 18 years before accessing a 12-month loan in the loan princess.

  • You must have valid identification documents.

Indeed, no lender will be willing to give you loans for 12 months without valid proof of your identity. You can provide your national identity document, a social security number or even a driver’s licence.

Your identification documents should also show your residence. Therefore, the lender will determine whether they give loans to people in your area.

Are 12-month Loans suitable For You?

Before applying for loans for 12 months, you should first think big about their impact on your financial plan.

For instance, if you take a one year loan, you must be sure of a steady income throughout the year. That will help you not to skip any payment, hence rebuilding your credit score.

If you want to sort out a short financial need, you may consider a 12-month loan. Remember that you will not get a tremendous amount of cash when applying for a one year loan with your bad credit.

For instance, you will get a loan of £100 to £1000 from the loan princess broker. And that will be a surety that you will manage to pay the loan on time.

In most cases, loans for 12 months usually have high-interest rates. But it will be better because you will get the help you could not have gotten anywhere else. However, with Loan Princess broker, the Annual Percentage Rate doesn’t exceed 49.7%, which is cheaper than most brokers.

If you want to get fast cash to sort out an emergency, you may have to consider these loans. The approval time of 12-month loans doesn’t take a long time. Therefore, you will manage to sort out your emergency needs before it’s too late.


Always ensure that you assess your financial situation if you want to take loans for 12 months with a bad credit. It will be good to take a little amount of cash that won’t strain your budget. 

In addition, you should always do a thorough check to ensure that you are dealing with the best lender or broker. For instance, if you need transparency in your loan application, look no further than the Loan Princess broker in the UK.