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Short-term loans are an option for those one-time situations where you have an emergency and need money quickly. Typically, applying for a short-term loan online is simple. However, it is an expensive way to borrow money. Taking out credit that is not right for you or that you cannot afford to repay can have serious financial consequences. Instead, there could be a more cost-effective alternative. So, how do you know if a short term loan bad credit is appropriate for you? A short-term loan is a small personal loan that is repaid in monthly interest-bearing instalments. The Financial Conduct Authority (FCA) classifies short-term loans as high-cost short-term credit (HCSTC) due to the high-interest rate charges. Short-term loans are unsecured, which means the loan repayments are not secured by collateral or a guarantee. Lenders take a risk when they approve a loan, which is why they charge a high-interest rate. How do I determine whether I require a short-term loan? A short term loan ba...

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