No Credit Check Payday Loans
See The Recommendation For The Best No Credit Check Lender
Payday Lenders With No Credit Checks
This site is here to help you find reputable payday loan companies that are not concerned about your credit rating. We will recommend some pay day lenders that do not carry out a credit check at all, and some that may still do a check, but where the result you need to be approved is far lower than with other types of borrowing.
A cash advance of this sort is unlike any other type of credit and it really does not require the sort of check on your credit history that other forms of credit sometimes do. This is because if you were to take out a longer term loan the company lending you the money would naturally wish to make sure you were likely to keep on making the payments due until all the money was paid off. This requires a much greater understanding of your credit history than if you are going to only borrow a small amount and pay it back in a couple of weeks.
When a payday lender is considering giving you a loan, all they really need to know is that you will have enough money coming in when you next get paid to cover what you owe. The checks they will want to make are all about making sure that will happen. So what a loan company will typically need to check is that you are over eighteen and a UK resident, that you have a job with enough income to pay off the loan and that you have a bank account that makes it easy to pay them back.
Using No Credit Check Payday Lenders:
Things You Need To Be Aware Of
A good lender who does not carry out a credit check can make it very easy and quick to get hold of a cash advance. You can literally have money in your bank account within minutes of applying. However, the ease with which you can do this can backfire if you have not thought carefully about how these loans work.
Some people have said that cash advances made in this way are extremely expensive. The truth is that the basic fees for what is on offer are not usually expensive, but if you try to extend the loan for longer than the few weeks it is meant for, that is when you run into trouble.
As a percentage of the loan the fees
do need to be relatively high as they are essentially a one-off payment that gives the lender only one opportunity to recoup their costs. Unlike someone who offers credit over a period of years, they cannot spread their charges over an extended period. However, if you do not pay back the cash you borrow on time, and that rate of interest is applied over a longer time, then it really is extremely expensive compared to a credit card or personal loan.
So it is crucial that you are confident in your ability to meet the repayment date when you take out a no credit check payday loan. The consequence of missing it can be hefty penalty charges and interest fees that quickly mount up to more than the original amount that you borrowed. This sometimes leads to people taking out more loans to pay off the first one, and getting into a cycle that can result in substantial debt.
Finding Reliable No Credit Check Pay Day Lenders
There are many loan companies that will be able to give you a cash advance, and while the fees may vary a bit, the real differences come with how they treat people who find they cannot repay the loan in full on time. This is when less scrupulous companies really exploit people and heap extra charges onto them. For this reason it is important to only apply to companies that you know are reputable, as well as being effective and fast lenders.
The companies listed below are well established and can be relied on to provide cash quickly and in an open and up front way.
For those in a hurry, Wonga are pretty unbeatable. You could have up to £400 in your bank account in an hour from now! The first time you apply, £400 is the most you can get, but once you sign up and use them, they gradually increase your 'trust rating' so you can get up to £1,000. If you need more than £400 just go straight to one of the other lenders below.
Just visit the Wonga Website. select how much you want to borrow and how long you need it for, then go through the simple online application process. You should get an answer immediately and have money in your bank account very soon after that.
Your home may be repossessed if you do not keep up repayments on a mortgage, loan or any other debt secured on it. Think carefully before securing other debts against your home.
Category: Payday loans