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No Credit Check Payday Loans
No credit check payday loans are surprisingly easy to come by really, in large part because of the very nature of this product.
Customers are looking to borrow money as quickly as possible and looking through your financial history takes time that most customers don’t have. Because of this you shouldn’t have a hard time finding a deal that works for you.
It is good to note, however, that the fewer requirements and the faster the deal, the higher your fees are likely to be. For this reason I highly recommend finding five companies and comparing rates and terms to find the deal that will work best for you.
There are still some requirements, however. You need to be over 18 years old, a citizen of the country you are applying in, be employed, and earning over $1,000 a month. Some companies will require you to be employed for at least three (sometimes six) months.
While many companies offer no credit check payday loans, you may also want to be aware of a program called teletrack. This is a service used mainly by payday lenders and pawn shops where they mark if you’ve applied elsewhere. If they see you’ve applied at other places recently they will likely assume you have borrowed elsewhere and not been able to repay and deny your application. If this is a problem for you, you’ll want to make sure the lender also doesn’t use teletrack.
Companies will be upfront about what kind of looking into your background they do. To be completely sure you are at the right place always read the terms on your application where it will specifically say if they do any kind of checks, and you can also directly ask whoever you deal with at the company.
When you need money fast there is no reason to worry, no credit check payday loans are everywhere and fast.
A Guide to Emergency Cash Loans and Payday Loans (Page 1 of 3)
In this rapidly deteriorating economic climate, emergency cash loans and payday loans are becoming increasingly popular. The problem with these is that more and more people that have never required a short term unsecured loan in the past are finding a need to obtain one for that rainy day for which they have no longer been able to save up.
Many people are spending their savings, and the term life savings is now a bit of a joke. Those that can afford a life savings scheme dont need it, and those that need it cant afford it. Of course I dont mean that literally, because many people are saving and need their savings, but nevertheless the sentiment is pretty accurate. Saving is getting harder, and when that unexpected expense comes along then those that not too many years ago would have had something put by to cover it no longer can.
Hence the upsurge in emergency loans and payday loans, and there is really very little to chose between them. This guide is intended for the newcomer to this type of short-term borrowing, and how you can make it work for you, or how it can cost you more than you can rally afford. Its all about using the loan for the right reason and paying it back as agreed.
THE AMOUNT
Unless you are dealing with a company with few morals, you will likely be offered no more than up to $1,000 for your first loan. Some companies restrict that to $600 for first time customers. The reason for that is that the loan is not secured, and even though legal action would sequester the cash back from your income, most loan companies would rather not do so for a large amount, and it is easier and less expensive to recover a small amount than a large amount.
Once you have successfully repaid your first loan, then the amount you can subsequently borrow steadily increases.
THE REASON
The reason for taking such a loan has to be compelling. If you can borrow from a family member or good friend then do so because it will ultimately be less expensive for you (unless they charge you a high rate of interest!). It is not economical to use an emergency loan to pay another loan, although if you are in danger of defaulting on accredit card payment you might think the extra expense worth maintaining your good credit record: no price can be put on that.
However if your credit is shot, as it is with many people seeking emergency cash, it would likely make no difference other than the fact that you could likely negotiate lower charges with the credit card provider than you would get with a payday loan.
There are other reasons for needing emergency cash loans apart from being unable to pay regular bills, among them family deaths where the life insurance is insufficient to meet all the expenses. This is becoming more common as process rise while investment rates remain stagnant. The same is true at the other end of the life scale: weddings. These too can be high cost events that few couples or their parents have had the opportunity to plan for financially.