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At Payday Loans Pro, we understand how easy to end up with a bad credit score. It's an unfortunate reality that nearly a third of Americans don't have enough savings in their bank account to make an emergency payment. Unexpected expenses like medical bills, credit card debt, car bills, etc, when combined with regular monthly payments, can bankrupt people.
People with poor credit oftentimes find themselves in situations where only unsecured loans with higher interest rates are available to them. Without many loan options available to them, it's easy to feel stuck.
But fortunately for people with a bad credit score, there is a type of loan for them. At Payday Loans Pro, we specialize in helping people find small loans without requiring a minimum credit score, credit inquiry, or credit profile. We have a network of online lenders that will give out secured loans without having to worry about whether or not you have good credit.
These credit unions and major credit bureaus only care about your FICO credit score. And their fees are add up quickly: Origination Fees, Loan Application Fees, Late Fees, etc. All of these unexpected expenses add up and make it seem like the loan companies and financial institutions are out to get you.
What should you know about bad credit payday loans?
Payday Loans Pro's network of lenders does not check a borrower's credit report from one of the "big three" after they submit their information. The big three is Experian, Equifax, and TransUnion. Such checks are known as "hard credit checks" and conducting one potentially lowers a borrower's credit score. Just like not paying a credit card can lower your credit score. Regularly checking your credit report by direct lenders may indicate that a person is repeatedly looking for loans. This is capable of causing the person's credit report score to drop.
If a borrower's credit score is particularly low, lenders often assume they are borrowing due to a difficult financial situation. Perhaps the borrower does not have enough cash to pay bills or medical expenses. Even if the purpose of the loan amount is reasonable, rejections due to low credit scores are possible.
Connecting people who need personal loans with payday lenders is the mission of Payday Loans Pro. The online payday loans application process is simple. You apply for a short-term loan or cash advance and get approved the next business day. Our team works with online loan lenders all over the country who are accustomed to working with borrower's with bad credit scores. The loan amount can be paid quickly, directly into your bank account/checking account. Terms vary depending on the specifics of the loan, including the loan amount and length.
Frequently Asked Questions About Bad Credit Loans Online
Everything moves at lightning speed with Payday Loans Pro because the process is all on the Internet. From online form information to money in the borrower's bank account. Once a borrower gets a loan offer, the details are sent to them (via email). Borrowers can review the details and sign the loan contract electronically.
When you evaluate the loan contract, carefully read through all of the terms. You need to understand the total loan amount and loan process, in addition to the due dates and repayment amounts. Read more payday loan consumer tips here.
One of the easier third-party lender methods is using your credit card to get a payday advance. You then make repayments ASAP until the total amount is paid back to the lender. Different credit cards will have different cash advance policies. But most allow you to withdraw a portion of your available credit limit in cash. Cash advance fees are usually quite high. But those fees are still lower than those associated with payday loans.
Title loans are when you use the title of your car as collateral to get loan approval. If you own a car outright and need cash fast, perhaps until your next paycheck, you can pledge the title of the car. You then make repayments until the loan is complete, which releases your title.
Short-term loans are capable of coming with stiff penalties if not paid back on time. Plus, high interest rates. This is why you should try to avoid falling behind when making repayments. Try to make the most of the next payday. If you do fall behind, it may become hard to get out of debt. The loan amount may even be sent to a collection agency. Payday loan consolidation does exist should you end up in a difficult financial situation.