Being in need of payday advance and having poor credit is quite a horrid combination. Luckily though, there is a way for you to still get the cash advance you will need without your bad credit standing in the way. How? By going to private payday advance providers who specialize in weak credit quick cash loans.
Where Can I Find These Private Payday Loan Lenders?
You won't likely be able to find bad credit quick payday advance providers in your local area. Thankfully for you though, that is an access rather than a negative. Why? Because with on-line payday advance lenders, you not only have a lot more options, you also have far fewer hassles. Just visit you're favorite internet search engine and do a simple search on guaranteed poor credit cash loans. You'll be more than happy with what turns up.
Do Bad Credit Payday Cash Advances Cost More?
Generally, yes. Bad credit payday advances cost a bit more in rate of interest due for the lack of a credit check. Because the company is foregoing the need of a debit check, he/she is actually making up for that "risk" with a slightly higher rate of interest. Typical rates of interest for these sort of payday advances range in between 15% and a whopping 30%.
What Happens If I Don't Pay It Back?
Since the procedure is normally automated, allowing the lender in order to withdraw the cash advance payoff directly from your checking account the day the cash advance will be due, the first thing that will happen is you'll be charged a bounced check fee by your own bank. If you neglect to repay the bank, your own accounts at the bank may be closed and you may get a permanent black mark on the record for the incident.
Furthermore to the financial problems, private no check payday loan lenders will additionally start attacking your credit rating, causing it in order to drop even lower than it recently is. The company will continue adding on penalties and interest to the cash loan until you pay it back; meaning the amount won't ever stop climbing. If following months of non-payment, a lender may pass on the debt to a debt collection agency who can sue you in order to collect on the amount.
