"I'm sorry, we can't help you
at this time." If you have bad credit, you may be used to hearing these
words every time you attempt to apply for a loan. It's an unfortunate fact that
bad credit can prevent you from reaching many milestones in life, such as home
ownership, for example. However, it cannot prevent you from getting needed
funds in the form of a fast no credit check loan.
By its very nature, the no credit
check loan ignores poor credit history and mistakes of the past and provides
borrowers with needed funds in a rapid manner. For those interested in
utilizing the benefits of a no credit check loan, this article will shed some
light on the details of this lending option and why it may the best option for
borrowers worried about the impact of their bad credit on loan applications.
Meet the Basic Qualifications and
Cash Is Guaranteed
Rather than no credit check, many
people may also be familiar with the term guaranteed loan. In many ways, that
is exactly what a no credit check loan is for you. As long as you meet a few,
basic requirements, the loan that you desire is guaranteed. Those requirements
are as follows:
· 18 years old or more.
· Currently employed with a steady
paycheck.
· A citizen or a permanent resident
of the U.S.A.
· Current bank account and routing
number.
That's all there is to qualifying
for a no credit check loan. As the name indicates, your credit score is of
little concern and, in fact, won't even be checked. You need to simply prove to
the lender that you are who you say you are and that you have a sufficient
income to support rapid repayment of the loan.
Fast Money for the Short Term
One of the reasons lenders can get
away with offering no credit check loans is because of the details entailed in
taking these loans. They are usually only given for relatively small amounts
(as low as $100, but up to $1,500) and then they are repaid within a short
period (as short as 2 weeks, but up to 6 weeks). Basically, by offering you
money in the short term and basing that amount off of your current paycheck,
lenders eliminate the risk that bad credit entails, which is usually poor long
term follow-through or chance of a change in circumstances.
Your no credit check loan may also
be called a payday loan or a cash advance loan for this reason. That is because
the money that the lender provides you is meant to serve you in advance of your
paycheck and then be returned upon being paid again.
Finding the Right Lender
Once you understand the details of
taking a no credit check loan, it is time to search out a lender. Generally,
your best bet is to go online and search for lenders through your favorite web
service. You will quickly see that many lenders offer no credit check loans.
However, the deals that they extend will vary greatly according to their
general practices. A good way to weed through all these lenders is to use an
independent ratings service, such as the Better Business Bureau or financial
websites with user reviews. Choose at least three of the best rated agencies and
get a quote from each. Then, compare their offers side-by-side to find the one
that's best for you.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น