Bad credit is a true loan killer that can put a terrible burden on you when you’re facing financial difficulties. Banks tend to turn down loan applications coming from people with bad credit standing in fear of them being unable to pay the money back. Life brings many financially challenging situations in the least expected moments. Where can you ask for financial aid when caught up by a pile of overdue bills? Who do you turn to to give you a helping hand when you need it most? With a slim chance of getting a loan from banks or credit unions and highly unlikely help from your family members, where can you possibly get money that you need so urgently today? Are there any legit lending companies rendering financial services to people who have bad credit history? The short answer to the last question is ‘ yes’.
There are many online direct lenders who can get you a fast loan – our network being one of them, regardless of your credit status. If you have never borrowed money online, you stand a pretty good chance of getting quick cash the same day. Online lenders assume that you have a horrible credit score with conventional lending institutions, so they don’t even bother checking your credit score. There is a different kind of check involved. Online cash lenders check their own data base regarding your previous online loans. If you have borrowed payday loans online previously, that leaves a permanent mark on your payday loan credit history. Any defaults on your previous faxless payday loans lower your credit score among online lenders. If you have more than two payday loans outstanding at the moment, you may not qualify for another one. Of course this greatly depends on the amount of your debt and your income. The more money you make, the more you can borrow. Even if you have two payday loans out but still your debt-to-income ratio is less than 40%, you may qualify for another loan to be approved.
There are many factors involved in the approval process but your income is the key factor. In short, bad credit may not preclude you at all from getting a payday loan, provided that you haven’t got in trouble with payday online lenders.
People with bad credit can apply for a fast payday loan with our network using a short application form available on this website. You can file it in less than two minutes and just wait until our network gets back to you, which shouldn’t take longer than twenty-four hours. Most applications are approved instantly within a matter of hours and cash is deposited in borrower’s account the same day.« I need a loan but I have bad credit |