Have Bad Credit? – You Can Still Get A Payday Loan


If you have never tried the loan credit, then you have probably had the unfortunate experience of being rejected. While definitely not pleasant, you do not have to worry about being canceled for a payday loan, as long as you are employed. Here is how you can get a payday loan for those emergency cash needs.

Your credit record is really no bearing on your ability to get a payday loan. In fact, they will not even check your credit record – or the amount of indebtedness you have now This means that your bad credit will not affect your ability to get the money you need.

They will, however, think carefully your ability to pay. This means that they will need some information about where you are now and how much you make every month. What they are looking for is that you have been employed for at least six months at the same place – some will only require two months. Another thing they will want to know is that you make at least $ 1,000 per month (some require $ 1,500 per month). In order to verify this, you may need to provide a faxed copy of your pay stubs, or they may contact your employer.

Payday loans usually offer a maximum of about $ 1,000 in cash, and some go up to $ 1,500 Your first payday loan, however, will usually be about $ 400 Paying it back on time

Another thing you will need when you apply is a checking account. You will be asked to fill out a postdated check, or you will need to give them permission to get your account electronically on the date due.

As long as you pay the full amount on time. You can roll them over for another pay period. This will, though, mean that another interest charge is applicable – but you have more time Certainly this will not be something you want to do, but the option is there if needed.

Other repayment options Although still rather new, there are some that are now allowed to pay it back in many payments. You may have to do this

Be sure to take the best deal on your payday loan, before you apply. The interest rate can range anywhere from 15 up to 30% The time that you have to repay the loan also varies from one loan to another, too. Make sure you get a good deal


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