Borrowing Basics: Understanding 12 Month Loans

Popularly known as payday loans, 12-month loans are one of the best products in the financial circuit today. They are unsecured for a 12-month time period and can be easily applied for without a long loan sanctioning process. Financial crisis can knock on one’s door at any time and asking for help from others is not always the best option. This is why these short term advances of a small amount can be so advantageous to the borrower.

What is a 12-month loan and how does it work?

12-month loans are basically a short-term personal loan which is borrowed from a lender or bank and has to be returned within a 12-month period only. These do not require any separate account, therefore, getting them is so easy and hassle-free, the monthly installments are deducted from one’s regular salary account only. One of the things that bothers borrowers, at times, are the high interest rates, which ultimately makes these expensive. But, most people take these only when they find themselves in a sudden financial pitfall and thus do not give the higher interest rates much thought.

One can apply for these loans online by filling out the forms and as these loans do not require a guarantor or credit score, the loans get sanctioned quite quickly. One can pay the installments through their salary account either using the auto payment mode or the manual mode.

These loans can be taken by anyone as there is no requirement of collateral so these loans can be taken to cover any urgent medical or educational purposes.

Features of 12-month loans

There are certain salient features of these loans that make them stand apart from others:

Easy application: one can easily apply for these loans online without much trouble. The eligibility criteria of these loans are easy and, therefore, anybody can apply for them without any restrictions.

12-month duration: one can take these loans only for a 12-month duration which means one will have to pay within a year, regardless of the amount borrowed.

No guarantor and credit score is required: unlike other loans, these payday loans do not require a good credit history or a guarantor of any kind because, here, financial urgency matters the most, and not financial history.

Expensive interest rates: because these loans are given away easily and that too for only a 12 month period without much compulsions imposed on the borrower, it is inevitable that these loans are pricier as compared to other type of loans.

Benefits of 12-month loans

Some of the advantages that one can enjoy are:

One can get a loan for any amount depending on the emergency and requirements.

Anybody can apply for this type of loan and it can take care of educational or medical expenses.

These loans are approved within 24 hours and will be directly credited to one’s bank account.

One can avail many discount offers on these loans, which most of the banks and lenders design as a marketing strategy. But, nonetheless, these discounts can be highly benefitting to a customer.

They are highly flexible in terms of repayment, as one can pay off the loan as one wishes within a year.

One can take these loans and pay them off in a timely manner to increase one’s credit score.

12-month loans are flexible and one can avail them easily without much trouble of documentation and credit scoring.

These 12 month loans can be obtained without the need of any guarantor or collateral document or a good credit score and the amount of loan would be credited within 24 hours direct to your bank account thus offering you easy loans.

So if there is an upcoming expenditure or anyone simply faces a sudden emergency, one can choose the best lender who can provide 12 month loans no guarantor UK in a short time. So why wait, come and take 12 month loans for your urgent need now.

A Few Healthy Reasons to Start Collecting the Rent Online

A landlord’s life is quite stressful, whether he manages one rental property or a hundred. It is hard to find tenants who are responsible and trustworthy, as well as maintain a property and collect rent. The process is, without a doubt, demanding.

As a matter of fact, a recent study reveals that 66% of landlords say that managing a property is a lot more stressful than handing a full-time job. So, it is important that they take advantage of all opportunities to minimize stress and that of their tenants.

The Internet technology has enabled people to increasingly manage their financial obligations online, since methods of past generations are now considered obsolete. For instance, bank depositors seldom balance their check book – if ever they do so.

Online rent collection is an effective method to make sure that landlords are doing everything within their power to make the process easier on them and their tenants. It is now easier for them to collect rent, and for tenants to pay rent. The best reasons to go online and start making life easier now are as follows:


Nowadays, most tenants are doing their financial and business transactions online. Debit cards, as well as online banking portals, have made it possible for them to seldom pull out their check book. For this reason, 79% of tenants would rather pay their financial obligations electronically.

Certainly, online rent collection is not only convenient for tenants. This is beneficial to for landlords as well, since they no longer need to wait for the monthly check/s in their mailbox before heading to the bank. Online rent payments are accomplished by means of Automated Clearing House (ACH) or credit cards, letting tenants transfer money straight into their landlord’s account in as fast as 2 business days. This is convenience at its best.


About 9 million individuals will fall prey to the crime of identity theft each year, which translates to around 19 people per minute. When a fraud takes place, it would take the victim $500 and 30 minutes to have each instance of identity theft solved. Since it is not likely for a tenant to handle a check literary in person each month, a rent check makes it easy to become a victim of such type of crime.

This is because the check – which is dropped in the mailbox – contains the banking information of the tenant written on it. Also, when a tenant’s bank account is drained due to fraud, this will become a problem. Due to its safety measures, collecting rent online makes sure that no one is at risk.

Improvement of Tenant-Landlord Relations

When it comes to sales, the agent who closes the deal and wins the customer over is seldom the same person who collects the payment. This prevents a good customer-client relationship from turning sour when issues arise during the payment collection process.

Online rent collection gives the same advantages – the tenants will associate their landlord with the brand new sink he choose to install, and not the monthly withdrawal from their bank account.

Landlords should bear in mind that tenants are not the only ones to enjoy the positive outcome of online rent payment. This minimizes the stress of facing tenants who do not pay rent on time, which is an unpleasant situation for both parties.