Bad Credit Payday Loan - Guaranteed Cash in Advance

By: Scarlette Riley

Introduction

If you are in need of emergency cash but have bad credit rating or bankruptcy history, then you may want to consider availing a bad credit payday loan. Many lenders provide these loans that allow you to borrow cash up to ?1000 or more in easy and convenient way. A payday loan company will not perform a credit check to approve your loan application. Your qualification for getting loan is primarily based on your ability to repay.

A peep into the features

A payday loan is a form of cash advance in that you borrow cash and return it after your next payday. The loan term is generally between 14 and 21 days with the interest rate slightly higher than normal bank loans or credit cards. This is understandable since these loans do not consider bad credit history and require no collateral as part of the loan qualifications. In addition to it, the process of securing a bad credit payday loan is very quick compared to any other conventional loans.

The approval process for getting the loan is very fast. Some payday loan lenders are able to process your application as quick as in 24 hours or less. You receive the money deposited directly into your nominated bank account. This will mean you can pretty much resolve your financial emergency in the same day. Imagine if you have overdue bills to pay such as medical bill, car repair, utility bill, etc. Getting a payday loan can help you ease your mind while you are also sure that you can make the repayment on your next payday.

Automatic Repayment

You are required to repay the amount in a single installment. The payment will be setup and automatically deducted from your checking account on the due date. You will want to make sure that the funds are available on your payday as there would be a fee if the debit is rejected from your account. Even though getting a bad credit payday loan is very easy, you should always compare different rates from a number of lenders before making a loan decision. Some lenders use different fee structure, much depend on their location. On top of that, make sure that you use the loan within the timeframe you agreed to avoid extended fees that would incur due to late payment.

Payday Loans
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