Are you a doctor who wants to start his own clinic but you do not have enough funds? Do you also have some risky tags in your name and other lenders are not willing to provide you loan. In that situation, bad credit doctors loans can help you in borrowing the money for any personal or professional purpose.
These loans are made to the doctors whose credit history has blemishes like payment defaults, late payments, CCJs or arrears. With such a risky history, you can borrow the money by producing the proof that you can repay the loan installments regularly on the due date. You can do so by faxing the papers of your annual income, bank savings, residential address and proof that you have made some improvements in your credit rating by paying off old debts.
Bad credit doctors loans are available in secured or unsecured options. The doctors can easily borrow any greater amount under secured loans against their property for collateral. Home or a vehicle can serve the purpose of collateral. You can borrow £3000 to £75000 for its repayment in 5 to 25 years. Interest rate will be lower on these loans.
The unsecured loans are made to the doctors without collateral for a short duration of one to 10 years. The loan amount will be smaller in the range of £3000 to £25000. But interest rate will be little higher.
For competitive interest rates and fewer additional fee charges, settle for an online lender of bad credit doctors loans. Scan several loan websites to compare the interest rates before you settle for the one whose terms and conditions are easier. For repairing your credit rating in the coming months, ensure that your repay all the loan installments on the due date. These are easier loans to take but you should borrow wisely.
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