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Payday Loans Online for Bad Credit | Cheap & Direct Nationwide Loan Centers w/Customer Reviews

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Having bad credit is a terrible inconvenience. Buying a home is almost impossible without a good credit score, being approved for a credit card with a low finance fee is difficult, and getting a loan is just as hard when you go to your bank.

However, there is a solution for your loan problems and that is an online payday loan. A payday loan is a type of unsecured loan that a borrower can apply for online any time of the day or night. They are the perfect loan for those who are living from paycheck to paycheck and just need a little bit of help to get by. Payday loans are typically given out in amounts between $100 and $1,200, although the amount will vary depending on the amount of money the borrower makes and the state they reside in at the time of the loan.

No Credit Checks

Many Americans are living paycheck to paycheck and are struggling to get by with the little bit of money they make. A missed credit card or utility payment can cause your credit score to drop a few points. A major issue, such as a bankruptcy or repossession, will cause a major change to your credit score, to the point that you will be rejected for future loans or credit cards. With payday loans, borrowers do not have to undergo a credit check in order to become eligible for a loan. No matter how bad your score is, you will be able to borrow cash. There are never any credit or background checks as part of the eligibility process.

What are They Used For?

Payday loans are basically loans for anything you need cash for. Most people choose to take them out because of a financial emergency they are dealing with. For example, you can use a payday loan for:

  • Utility Bills
  • Mortgage or Rent
  • Car Payment
  • Student Loans
  • Credit Card Payments
  • Funeral Expenses
  • Textbooks
  • College Expenses

Some borrowers simply want a little breathing room between paychecks, and a loan can quickly give them this. The company will never require a reason as to why a loan is needed, either.

The Application Process

One of the perks of a payday loan is the fact that they are extremely easy to apply for. Borrowers only need to jump on the website they wish to borrow from and fill out an easy application. Most companies will ask for some personal information, such as your name, address, contact information and place of employment. You’ll need to supply one or two pay stubs to prove your current income. Many companies will also accept income from social security, disability, pensions and child support, as long as it is reoccurring and current. Bank account information is also needed, as this is how the loan will be deposited upon approval. After submitting this information, the borrower is usually given instant approval for their loan. The money will be deposited directly into the account that was given during the application process. You can then use it for anything you wish.

How to Repay a Payday Loan

Repaying a payday loan is very simple. You’ll let the company know the exact date that you get paid again, and they will then set up an automatic withdrawal from your bank account. This withdrawal will also include the finance fee that was disclosed when you applied. You’ll want to make sure that the cash is in the bank when it is due so as to avoid any non-sufficient funds fees. After they take the fee out, that’s it! Your loan is paid off.

What if I Can’t Repay the Loan?

If you find that you can’t repay the payday loan on time, don’t fret. Most companies offer the choice of rolling over the loan for borrowers who are still having trouble. You’ll simply pay the finance fee and the loan will be pushed back until your next payday. This allows you even more time to get your finances in order.