If you have poor credit and need to get a loan you might think the only way is to go for the types of loans that will charge you the highest interest rate with really unreasonable terms. The reality is far from this and many lenders, aside from assessing your credit history, will also look to see if you fulfil other criteria before they decide to lend you any cash.
What can you do
Each lender has different criteria that a customer must meet before they part with the cash, but poor credit or bad credit doesn’t necessarily mean they will reject you. In order to apply for a loan with poor credit, the chances to get approved improve if you:
Have a steady income and a job. Usually you need to have been employed for over 2 years which shows the lender your ability to repay money borrowed
Even though you have poor credit history, it is important to show the lenders you are trying to repair this and that you’re on the right track. Bad credit history doesn’t change overnight but if you can demonstrate you are wise about managing your credit this will improve your chances of approval. The best way to repair your poor credit history is to pay your credit cards in full and on time. Usually a good history of repayments over 6 months will be beneficial.
Payday loans could be an answer
Many payday loan lenders will pre-approve you providing you send them a copy of your last bank statements and payslips while others will automatically lend you some money without doing a credit check.
If you have poor credit, payday loans could be your answer.
Payday loan lenders understands that life is busy and people don’t have time to surf the Internet when they have an immediate cash emergency. You need to get a loan today and there’s no time for faxing paperwork or queuing at the bank. If you need to borrow money until payday but don’t have time to deal with the usual hassle involved in obtaining a bank loan due to your poor credit history, then apply for an online payday advance with Payday loan lenders.
Living within your means
The credit crunch continues its grip on the economy, leaving us all struggling to live within our means. This often means fewer nights out, more nights pouring over your budget and a lot of penny pinching.
If your budget is tight then payday loans online can help you live within your means. When you have the occasional cash emergency, but you know you’ll have the cash in a few days or weeks, then same day loans can be a real saviour.
Living within your means doesn’t have to lead to the end of your social life; it just means you need to be more creative! It’s amazing what you can do for fun when money IS a problem.
Play tourist and go see the sites that you normally avoid, check out free yoga in the park, or have friends over for a dinner party and make it potluck! If you have birthdays or other events approaching that you need to celebrate, make your own gift card instead of buying one.
Every little penny counts when you’re living off a shoestring budget. Get creative where and when you can and always remember Payday loan lenders can help you find Payday loan lenders loans when times are really tight.