When you are going through a financial crisis, there is often no time to wait until the next payday. To top it all, if you have a history of late payments or payment defaults, getting a bank loan will be next to impossible. In such a situation a no credit check cash loan i.e. a payday loan can provide immediate relief.
Payday loans are small, short-term cash advances that can be availed of a maximum of $1500. They come with a repayment period of 14-15 days. Since, these are high-risk cash loans being offered without a collateral, they come along with an exorbitant fee ranging between $10- $30 per $100 borrowed.
Why Settle For A Payday Loan?
First and foremost, conventional loans require you to show a security or collateral, which you may not have because of your spending habits. Payday loans are unsecured quick-fix loans that don't require collateral.
Secondly, unlike banks, payday loan lenders do not conduct an elaborate credit check on the borrowers past credit history. Therefore, even people with bad credit or poor credit rating can benefit from them.
Thirdly, no credit check cash loans require minimal or no paperwork and are therefore an instant solution to meeting family emergencies, late bill payments etc.
Who Can Apply?
If you are over 18 years of age, have a checking account, a steady income and do not have a bankruptcy in progress, you are eligible to apply for a payday loan.
What Are The Formalities?
You can either visit the lender's office or their website and fill-in an application form. You may be required to submit the latest pay stub and your identification proof. These formalities will take less than an hour to complete. Within 24 hours after the approval of your loan application the no credit check cash loan amount will be directly deposited in your bank account. It's that simple!