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Payday Loans for Bad Credit

What Are Bad Credit Payday Loans?

In America, among 220 million credit scorable people, 68 million have poor scores or bad credit. This means that more than 31% of the population has a bad rating. What is more significant, only 1.2% have a perfect credit score.

Every fourth American does not know his credit ratings. If you have a score of lower than 650, you are considered problematic, if your score is 700 -750: you’re good to go. The question of fairness between 0 and 650 or 700 and higher we will leave to the banks. The following table describes factors that influence your credit score but what if you don’t have proper credits?

Category Influence
Defaulting on payments Unpaid Credit Card Bills (also, you will be inevitably charged after a couple of months).
Late Payments If you delay the payment, your credit rating will automatically go down by 35%.
Collection Accounts Collectors can sell your account to a third party and then, they start the terror of contacting your family, workplace, and friends with the goal of getting money from you.
Bankruptcy Once you complete the bankruptcy form, your score is merely dead.
Foreclosure Similar to defaulting on a loan but with a high risk of losing your house.
Judgments An unpaid judgment is even worse than a paid one. Once the creditor sees that you had issues with the court: the credit score goes down

Applying for an emergency loan from the bank might be an idea that you will regret in the future:

  • Banks can ask for a higher interest rate. If a manager sees your credit history and understands you are a risky client, he can turn you into dessert with a high-interest rate, that you have to pay back.
  • Not all banks give personal loans, which means that in the case of emergencies when you need cash today or tomorrow: banks are not an option.
  • Banks ask you to prove your income. But what if you don’t have any income or you changed your job last month? Rejected! 
  • Banks may offer secured loans even if you have bad credit, but if you miss a payment even for a short period of time: time to say goodbye to your assets. If you do not have any assets: you are automatically out of the game!

As a result, more than 60% of Americans have to take pain killers and visit a therapist due to problems with a bank or other financial problems. But you always have a choice.

Payday loans are emergency loans created for people in need of cash. It is an unsecured loan (means you do not put your house or car up as collateral, in case of failing to pay back the loan) that is supposed to be repaid on your next payday. We do not mention your salary day as the source of money is not that important: you can pay from your part-time job, pension, or any other source of income.

Personal loans for bad credit situations are the best solution for people with bad credit. It can help them to get past financial situations. The lenders for payday loans understand that no one can predict the emergency situations. There are no limits from lending companies for helping clients, whether they have good or bad credit.

What Role Do Emergency Loans Play for Those with Bad Credit?

Many studies highlight that the issues of debt are more common for poor people. As a result, these people are likely to have a low credit rating. It does not mean that that you do not deserve the support for money in the emergency situation if you do not have a thousand dollars in your pocket. 

Only 37% of people try to borrow from their families or friends. The actual percentage of who gets help might be even smaller. Yet, there are no statistics. 

Our service offers payday loans for customers who need financial assistance even if they have a bad credit history. The criteria of one’s credit rating do not influence our decision and willingness to help. 

More than 90% of users of payday loans agree that using short term loan is convenient. It is a useful tool in the consumer credit market that provides financial help to people who are in urgent need.

It is okay to have a bad credit rating. Usually, lenders look at the following expense to see if a customer can pay back the loan or not: rent or mortgage cost, utilities, food and transportation, credit expenses. 

After deductions, the lender can establish the approximate amount that you can repay. Indeed, your living expenses does not mean that you are not allowed to take the loan. You can negotiate some of the expenses. The final goal is to provide a comfortable amount for both parties, so in the end, the customer does not get into the more financial whole.

There are certain advantages for bad credit customers who apply for a payday loan online:

  • Online registered companies have a bigger list of possible lenders for bad credit clients than any shop.
  • They are fast in the application and are not strict in your identity.
  • There are no hard credit checks. Even if one lender refuses to give you are loan, there are hundreds of other lenders that can be connected.
  • Done online: you do not have to leave your house and can keep it a secret from everyone in your surroundings.
  • Better approval chances. If you applied before the end of working hours, you could find out whether or not you are approved within 24 hours or even faster.
  • Cash available the next day: this is the biggest pro of doing things online. You get the cash you need the next day! The most important thing is to have a valid bank account to have the money transferred to.
  • There is no need for a guarantor, as you already have a poor credit rating; no one is going to check your guarantor as they do in the bank. 

The most common reasons for those who take payday loans with bad credit are:

Reason Credit Status
Loans for Bills Bad Credit Approved
Loans to Pay The Overdraft Bad Credit Approved
Loans for Mortgage Repayments Bad Credit Approved
Loans to Pay Unexpected Debt Bad Credit Approved
Loans for a Medical Emergency Bad Credit Approved
Loans to Help with Bad Credit Bad Credit Approved
Avoiding Embarrassment (instead of lending from family members) Bad Credit Approved
Loans for Debt Consolidation Bad Credit Approved
Redundancy Bad Credit Approved

All of these cases are approved for taking personal loans even with bad ratings. If an emergency loan is important for you, we are not here to judge you and your credit rating! We are willing to help connect you to the lender with the most suitable terms and conditions for you.

How to Apply for Payday Loans With Bad Credit?

First, if you are not sure, you can apply and get feedback from a consultant without having any obligation or any effect from your credit score. We are allowed to do this as lenders are only allowed to perform a soft search and check your application. It leaves no marks on your credit history, and neither bank nor other lenders can see it. In our service, we minimize the effects of lenders or borrowers, we take care of all communication and financial processes: the first step of filling out the application is on you.

  • Applying for a payday loan online does not take even five minutes. You can fill out the application from your phone or PC.
  • 99.999% of applications with bad credit are accepted.
  • The consultant checks your application and finds the most suitable lender for you based on your needs. If you are not sure about the amount, you can also check with our team and receive a financial consultation.
  • Then, after the application is approved, you will get your cash deposited to your account. 

The whole procedure can last less than 24 hours; that is why payday loans online are the fastest way to obtain cash. Once again, there is no obligation regarding when you can apply for a payday loan, and no credit records are taken. 

The following table makes a comparison example of the same steps and processes found at your local bank, shop, and online service for payday loans for bad credit.

Processes Bank Shop Payday Loan Online Service
The fastest way to get cash Up to 2 weeks Up to 3-4 days Fast (around 24 hours)
Credit Score Check Yes Possible No or Soft one
Does your credit score effects on loan? Yes 100% Yes, can get higher interest rates No
Keeping a record after getting approved Yes No No
Application process More than 2 hours Up to 1 hour 5 minutes
Can influence on your assets Yes No No

Our service helps thousands of people with bad credit in emergency situations. For years, we have been building a base of lenders who have better rates, soft checks, and have gained trust amongst our borrowers. We take responsibility for any credit rating: excellent, good, poor, or bad. 

By using our service, we can guarantee:

  • Easy process. We do not ask for many documents and provide a stress-free process for any citizen. 
  • Honest. We are proud of our honest and straightforward service. We do not hide any fees or additional payments. Our conditions are clear and affordable. You can also ask our consultant for help if needed.
  • Reliable. We are a licensed service, which means we are approved by the government. More than 1,000 people have already worked with us and our lenders. High customer satisfaction and constant feedback from our consultants.

Relief yourself, your family and friends from financial stress! Get help right now! Contact us for more information or consultation if needed!

Frequently Asked Questions

Can I Apply If I Have Poor Credit Ratings?

You can apply with any credit rating or even without any. Our service provides loans to any customer. You must be the legal age, a citizen of the USA, and have a legal phone number and account for money transfers. If you have it, you are good to go.

How Fast Can I Receive Money?

Depending on the time when you applied, you can get cash by the next day or on the same day. We try to provide you emergency cash help as soon as possible.

What Is the Interest Rate for Bad Credit Users?

The interest rate for payday loans is verified by individual states and is not based on your credit score. Some lenders and services might ask for more, but we promise to be fair. We value customers, not their scores.

Do I Have to Have a Guarantor? 

No, you do not! A guarantor is usually needed in the bank when they check your score. As we do not do strict credit card history checks, we do not ask you to provide information about the third party.

How Legal Is It?

We are a 100% proven and licensed service. We have lenders that we have worked with for years and are ready to match you with one. We are working to meet your needs and preferences! Please contact one of our consultants to check the legal rules in your state.