When you have bad credit it can be very difficult to get a fast loan when you need it. Banks will almost always turn you down, even for small loans. This is where no credit check loans come into play. There are lots of different options for loans that don't require a credit check, but the most common two are title loans and payday cash advances. Each loan has different requirements, so we'll take a look at those in this article so that you know what your options are when you need fast cash with no credit check.
A payday cash advance is a short term loan that will get you the money you need fast. The requirements are a job, an ID, and a bank account. The idea is simple, you have a job that makes you a certain amount of money each week and based on that number you're lent an amount of money that is reasonable to pay back with the next paycheck. At some lenders you'll also have to state what your average living expenses are like (food, rent, utilities) to determine the amount that you're approved for. The loan is then repaid when you get your next paycheck by either a post-dated check that will be cashed on the date or they will withdraw the money directly from your checking account.
The other common type of no credit check loan is the auto title loan. To be approved for this type of loan you need ID, a paid off car with the title, and an extra key to your car. Some title lenders don't require proof of employment to lend you the money you need, so this is also a valid loan for unemployed people. The terms of these loans are slightly different than payday cash advances, and some lender will give up to a month for repayment. Your car's value is what determines the size of the loan. Usually title loans are up to 50% of the cars street value.
Bad credit or no credit, it doesn't matter with these types of loans. If you need money there's one of these places open in your area right now!
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