Forgot your password?

No Credit Check Loans

By Edited Nov 15, 2013 0 0

No credit check loans are readily available, you just need to know which one is right for you. The value of a no credit check loan will vary from a few bucks, up to thousands, depending on your job and a few other things. If you need some money fast, read on to learn more.

Getting fast cash is one of the great things about this country. There are hundreds of different options to get money without a credit check. You have options like payday loans, cash advances, and title loans are just some of the ways to get same day cash. We'll take a look at each one of these in a little more depth so you know which choice is right for you.

Keep in mind that loans with no credit check are going to be expensive and risky, but are a necessity for some that have bad credit. Be very careful to not depend on these loans to stay financially afloat. The floor can quickly fall in after missing a single payment, and you are falling deep into the debt trap. Many of these companies that offer no credit check loans expect that most of their customers are going to have a hard time paying the loans back and plan to make a ton of money in extension fees and fines.

No Credit Check Payday Loans

Payday loans without credit check are available to anyone who has a job and can prove who they are. The premise is simple, you prove how much money you make and they loan you money until you get paid again. They'll either have you post-date a check for the amount you borrowed, plus interest, and they'll cash it after your term is up. Or, they'll have you fill out your bank account information and they'll automatically withdraw it.

The risk with these loans is the interest rates. The average rate is $25 per $100 borrowed. This is pretty extreme, but if you have bad credit there aren't a ton of other options to get the money that you need. The payday cash advance companies will jump through hoops to get their money, so expect to have to deal with them later if you miss a payment.

Payday cash advances are the most common no credit check unsecured loans. Just about anyone who applies is approved for a loan. If you live in an area that has multiple payday advance stores, be sure to spend a little time checking into their rates and terms. This extra few hours can save you hundreds of dollars or get you more lenient terms for repaying the loan.

No Credit Check Title Loans

Title loan companies don't care what your credit score is, and they don't pay a lot of attention to what your income is like, what they do care about is how much your car is worth and if it's paid off. This is one of the few no credit check secured loans available. They'll evaluate the value of your car and lend you up to 50% (each company varies) of its total value. Your car has to be paid off, and most lenders have rules about the minimum value of a car before they can give you a loan (usually more than $5000). This is another of the most common types of no credit check cash loans.

The risk of title loans is pretty obvious, if you don't pay they take your car. Many people get themselves into trouble with this when they get a loan and don't have a job. Title companies don't care about your job history, so they can give you money while knowing that you don't have a way to pay it back. They'll then take your car from you, sell it, and keep everything.

These certainly aren't your only options when it comes to getting cash without a credit check, but are the most common and easiest to get.

More Info Barrels by The Empire-


Add a new comment - No HTML
You must be logged in and verified to post a comment. Please log in or sign up to comment.

Explore InfoBarrel

Auto Business & Money Entertainment Environment Health History Home & Garden InfoBarrel University Lifestyle Sports Technology Travel & Places
© Copyright 2008 - 2016 by Hinzie Media Inc. Terms of Service Privacy Policy XML Sitemap

Follow IB Technology