Everyone has unforeseen expenses such as medical, academic or emergency car repairs. For these types of financial needs the traditional methods of obtaining a loan are stringent and time consuming. For many consumers credit checks and past credit histories are a stumbling block to their approval. The recent advent of one hour payday loans are a fast, effective way for the responsible borrower to sidestep these obstacles. Because you are simply securing money from the lender to be repaid on your next payday credit checks aren’t required. Credit histories are of no concern to the lender and if repaid promptly one hour payday loans can actually help repair your credit history.

While you can find walk-in payday loan lenders the easiest and most convenient way to apply is by finding a qualified lender online. You can now readily find reputable financiers to advance you the cash you need to deal with hardships that pop up between paydays, with no credit check. One hour payday loans are simply an agreement between you and the lender to provide you the cash you need in exchange for your promise to repay the loan on your next payday. These loans are very short term and are assessed with steep interest rates. This is the trade off you agree to for the lender taking the risk for laying out the sum of money that you require. While fees are collected over a period of time, often years, from lending institutions using traditional methods the payday loan lender has to make their money on the onetime repayment from you.

Little concern is given to your past credit track record because all you have to do is prove to the lender that you will be able to repay the loan with your next paycheck. These details are worked out when you fill out a simple online form that lists your personal information and your short term financial status in relation to your ability to repay. In short, if your paycheck covers the amount of the loan plus interest and fees your approval is most likely guaranteed. Application requirements are minimal. 18 years of age, employed for at least 6 months with verifiable income of no less than $1200 a month and a bank account with direct deposit availability. Upon approval the funds you requested are deposited directly into your account and are available to you for withdrawal immediately.

When the agreed upon due date arrives the lender withdraws the amount to be repaid directly from your account and the entire transaction cycle is complete. The lender is not concerned with your financial past in any way because you have guaranteed his repayment. Be aware that timely repayment of these loans is very important. Extensions can be obtained but repeated delaying of your obligation can cause you financial problems much more severe than what you started with. However the responsible use of one hour payday loans can be a safe and reliable way to occasionally take care of unexpected expenses without the hassles of credit checks or the problems that come with a poor credit history.