Cash Loans For Bad Credit

Do you need cash right now? Do you have a job that earns you regular income? You just might qualify for a payday loan. Payday loans are short-term loans given by lenders to people in need of cash with the agreement that the loan is repaid the next time the borrower earns their income. Typically, the loan is a small amount of money and the interest rates are high. Some lenders require that the borrower writes a personal check in exchange for the cash. The next time, the borrower is paid the lender cashes in the personal check and gets their money back.

cash loan bills for bad credit


Emergencies are the primary reason people take these loans. If you have a financial obligation that must be met immediately, then traditional borrowing avenues may not work for you. Many bank loans require that you wait for a few days for approval. You may not have the luxury of time. Most payday lenders usually approve your application within a day or in a few days. This makes this method a very suitable method of financing unexpected short-term emergencies.

Bad credit
Maybe your credit record is really bad. You do not qualify for bank loan nor do you qualify for credit cards. A payday loan may be the only kind of credit that you can get. Bad credit payday lenders typically do not check your credit history. All they require is a pay slip or evidence of regular income, identification and your filled out application. These few requirements compared to the many asked for by banks and other credit institutions make this avenue very attractive to persons with poor credit scores.

People with low incomes may be unable to pay for all their expenses. If unexpected expenses crop up, their financial situation could be dire. Payday loans help them offset deficits between their paychecks, allowing them to survive without pawning their belonging or borrowing from friends.


1. Fast Access to Cash
As stated earlier, approval time for these loans can be as short as a few hours. When you really need money, this short-time will truly be heaven-sent.

2. Your credit history is not important
No matter how many loan payments you’ve defaulted or how poor your credit history is, payday lenders don’t want to know. Everyone qualifies provided they have an income.

3. Application is done online
Most payday lenders now work online. All you have to do is go online, fill out the application form and the money is sent straight to your account. No bulky paperwork is involved and you don’t have to deal with surly bank staff.

4. You qualify for more with time
The more you borrow and pay your loan on time, the better your chances of qualifying for more. In the event that you get an emergency that requires more money, this lender will sort you out.


1. Very high-interest rates
Although these loans could help you a lot, you usually pay a higher interest rate than traditional lending avenues. That is why it is important to find out all contingencies from your lender and determine if you can pay this money with ease.

2. You may be slapped with fines
If you are unable to pay the loan on time, the lender will charge you more. Since the payment period is very short and the interest rates very high, this is a possibility. Ensure you can pay the amount within the specified time before taking this loan.




Conduct a background check of the lender
Some lenders can be unscrupulous. They burden borrowers with additional hidden charges which they don’t reveal during the application process. Ask friends or family or read independent customer reviews about the company. Be wary of divulging your account information online as this could be used to steal from you.

Find out all contingencies
Find out about the interest rates, other charges and what you need to apply for the loan. Do not be in a hurry to grab any offer. Examine and evaluate before making your decision.

Find out what happens if you are unable to pay
Even if you are very sure that you can afford to pay the loan, make sure you enquire after this eventuality. Good payday lending companies put a cap on the accrued interest after a certain amount is reached. This ensures that you are not in over your head in debt.


Payday loans can rescue you when you are in need of instant cash. They have their pros and cons. Ensure you consider the offer carefully before accepting the loan.