Payday loans are also know as cash advance loan, a post-dated check loan or signature loan. Payday loans can get you cash when you need it most. Payday loans is available throughout USA. Its one of the most popular loans in USA. But as you know to get the loan its important to have a good credit record. But what if you have a bad credit record? Will you be able to still get these loans? If you are still wandering than the answer is "YES". Yes its possible to get payday loans even if you have a bad credit record.
But you should always keep in mind that you need to meet the basic requirements for getting the payday loan and the good thing is that the basic requirement does not consider your past or current credit status for giving payday loans. But they may ask you about you employment history. They would prefer that you must be in your current job for at least three months. The advantage of payday loan is that it can be taken anything for any thigh and credit rating does not play any role in that.
you should know that if you are going for payday loans for the first time the lender may not give you more that $500 as first they would like to check you willingness for repayment and if you are lucky you may get your first loan without any interest. At the time of taking payday loan its important that you must take in writing from the lender that what is the finance charges and interest rate.
It takes about 15 minutes to 24 house to get credited in your account. But its important for you to know that the interest rates on payday loans is much higher than other loans available in the market. Therefore, you must take payday loans only if you need them and the required loan cannot be taken from any other debt instrument available in the market.
Repayment is by was of cheque or bank withdrawal slip signed by you. This you give the lender at the time of taking the loan. Option for roll over may also be available depending upon the source of loan. In case of rollover the interest becomes very high. therefore, it is advised to not to go for roll over unless their is not other option.
