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One Hour Payday Loans No Credit check
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.
Financial Rescue With One Hour Payday Loans
In todays fast paced credit drenched world it is very easy to become entangled in debt. The average household is $8000 in credit card debt. Americans carry a staggering $700 billion dollars in revolving debt like bank credit cards and retail cards. On average, Americans spend $1.22 for every dollar they earn. So if your in debt, rest assured your not alone. Sometimes everyday bills can seem like insurmountable obstacles as we put off this creditor to pay the one that is more threatening. One hour payday loans are an excellent source of quick cash that allows you to pay those bills that will come due in the time period between paydays.
One hour payday loans are readily available to anyone who is 18 years of age, has held their current job for at least six months earning $1000-$1200 a month and has an active bank account with direct deposit capabilities. The application process is quick and private as it can be done online from the comfort of your home. You simply fill out the form on your computer screen that includes the personal and banking information that the lender requires and submit the form. In a mater of minutes a you have your results. If you are approved your funds will be wire transferred to your bank account directly and will be available to you instantly. How easy is that?
One hour payday loans can be used for any purpose but are recommended for emergency use only as the interest rate can be very high, between 15%-30%. So if you take out a payday loan at a 25% interest rate you will have to repay $125 on your next payday. All transactions are conducted online so when your payment comes due the lender simply withdraws the amount of the loan, plus interest and any fees, directly out of your account. These loans are very short term so be prepared to repay your loan in about two weeks, a month tops. Because you give the lender your promise of a post dated check to repay the loan no credit check is performed or collateral is required.
Be cautious when considering whether or not to have a lender extend you a quick cash advance. As these loans are going to be taken out of your next pay check be certain you will have enough money left over to carry you through until your next payday. Borrow as little as possible to get by. Although it is possible to get an extension on your deadline, you should avoid this because interest and fees will continue to pile up. Many people have fallen into the trap of having to take out one hour payday loans repeatedly to keep current with not only their bills but the interest and fees from the loans. If you can manage to be responsible then one hour payday loans are an excellent occasional, short term solution to many of your debt problems.