FAQ

General Inquiries

Why should I choose your service to apply for a loan over other lenders?

Because 12 Months Loans Bad Credit website is not a lender. We are a loan advertising service that works with a large network of direct lenders. Instead of applying to each lender individually, you apply on our website only, and your loan request gets sent to dozens of lenders. Our team will offer you a better lender for your needs!

How much does applying on 12 Months Loans Bad Credit .Com cost?

Nothing. Our services are free of charge. No hidden fees whatsoever.

How fast can I get a loan?

Usually, if approved, the lenders transfer the money to your bank account within one business day.

What if I don’t have a bank account?

An active bank account is an eligibility criterion for getting an online loan. If you don’t have a bank account, but need a loan, then you should open one.

Why do you need so much information from me?

Your application form is your ticket to getting a loan. The info you provide helps the lenders make up their mind on whether to give you a loan or not. Don’t worry; your data is safe with us. We protect all sensitive information strictly confidential and ban any attempt of unauthorized use.

How and when do I find out if I qualified for a loan?

Regarding time, we strive towards granting an instant answer to all loan requests. This means that you will find out if you qualified for a loan within seconds. You will soon get a loan that will be displayed in the browser.

Can I get a loan if I have bad credit?

We encourage people with both good and bad credit scores to apply for our online loans. Of course, the terms and conditions may vary depending on the credit score, but we strive to ensure the most convenient loan offers to anybody, good or bad credit.

What loans do you offer?

12 Months Loans Bad Credit offers payday loans or cash advance loans, unsecured personal loans, and installment loans.


Payday loans FAQ

How much can I get?

You can apply for payday loans for amounts of up to $1,000. We suggest that you consider the financial possibilities and ask for only as much as you can afford to repay.

How do I get and repay payday loans?

First of all, you will need to fill out the application form for payday loans on our website. You will receive your loan decision within seconds. If you got approved, the lender would transfer the money to your bank account within one business day. You will repay the payday loan on the next payday, with your paycheck.

What if I cannot repay the payday loan?

If you feel that you will not be able to pay back the payday loan in time, contact your lender as soon as this situation becomes clear to you and ask for help. The lender may offer you an EPP (Extended Payment Plan) or a rollover.

What will the APR be?

The lender decides on the payday loan APR. When calculating it, the lender considers the borrower’s background and also the state laws. If the state you reside in has capped payday loans than the APR cannot exceed that cap.

What requirements do I have to meet to get a payday loan?

1) Be a USA citizen or resident
2) Be at least 18 years old
3) Have an active bank account
4) Have a steady and regular income


Installment Loans FAQ

How much can I get in an installment loan?

You can apply for installment loans of up to $5,000. The lender, however, will decide on how much it is ready to offer you, depending on the information you have provided.

Can I increase my chances of getting approved or getting better loan terms by lying in the application?

We strongly suggest you don’t do that. Our lenders perform a credit check of the applicants and also work with databases that include information on most borrowers. If you lie, not only will you get discovered, but the chances for you to get a loan will considerably decrease.

How many installments will I have to pay?

The number of installments and period is something that you and the lender agree on. Choose a schedule that will not burden you financially and that you feel comfortable sticking to. Usually, the repayment period reaches 24 months, with 24 monthly payments to be done.

Can I repay the loan earlier?

Yes, you can! Repaying any loan earlier will save you money on interest. But, before doing that, check if your lender applies any early repayment penalties.

What can I use installment loans for?

Unlike payday loans, that are meant to cover urgent expenses, installment loans are usually used for long-term investments, like home repairing, buying a car, or for covering more substantial expenses, like a family event or a vacation.


Personal Loans FAQ

What is the difference between personal loans and installment loans?

The main difference is the loan amount and APR. With personal loans, you may borrow up to $100,000 for low APR of 4.5% and 60 months term. The maximum sum of money you may get with installment loans is $5,000 with lowest APR of 35,99% up to 24 months.

Does this mean that I get to repay a personal loan in several installments over time?

Yes, just like in installment loans, personal loans are repaid in monthly payments, according to a schedule.

What can I use personal loans for?

Just like the name says, personal loans are used for personal needs. From covering urgent personal needs or to consolidate debts, renovate a house or make a wedding of your dream. The borrower is the only one who decides what to use the money for.

Can I get a personal loan if I have bad credit?

Most likely, the answer is yes. However, lenders will offer higher interest rates to the bad credit applicant than to good credit ones.


Other Questions

What to do if I did’nt find the question I have?

For any other questions you may have, please use contact us form. Thank you!