Can You Get A Payday Loan With Bad Credit | Free Finance Articles

Would I be able to get a payday loan even though I have horrible credit? Yes! A resounding yes! Any payday loan representative would be happy to help you with your payday loan application. A payday loan approval is never based upon your credit score. A payday loan application approval is always based on your current employment and income.

The total amount of your payday loan cannot go over the amount of your next payday check or payday cash available. This one thing that payday loan lenders or a payday loan representative will check, your employment status and how much you will anticipate your next payday payment to be. The purpose of this is to ensure that you are capable of paying back the payday loan.

A payday loan will always be a short-term loan, hence the name ?payday loan? which is a loan of cash until your next payday. So, a payday loan agreement or contract that you sign with the payday loan representative will always be short-term payback which means within thirty days or within your next payday period for example. Upon your next payday the total amount of your payday loan plus the apr fees and fee for issuing the payday loan will be due and must be paid in the total amount.

Often, a payday loan representative will have a contract that requires that you write a post-dated check for the total amount that you will owe upon expiration of the payday loan contract. This check will then be deposited and automatically withdrawn from your bank account upon payday?the day you personally write your check out for. This means you need to plan ahead that payday loan money, that check you have written out as part of the payday loan agreement will be taken out of your payday check.

This is the reason why you don?t ever want to use a payday loan for pleasure or fun. A payday loan should only be used in a financial emergency. And, taking that cute girl out THIS weekend that can?t wait is NOT an emergency. Or buying that dress that?s on sale this weekend and not on sale the next weekend is NOT an emergency. These are situations and there are many other example situations like these that should never be considered emergencies and should never have a payday loan issued for them. There are other solutions you can come up with in the part of social life or whatever it is that you might justify as an emergency rather than over-drawing your bank account, take the girl out and go for a walk around the park or a bike ride. There?s always dates that you can do for fun without much money. The dress, put it on lay-away for a week until your payday. Financial smartness when it comes to managing your bank account is about planning. And a payday loan should also be thought out and planned.

Here?s a smarter example of how to use a payday loan. Let?s say you didn?t plan your finances well this month and you go to balance your check-book and that utility bill is higher than you expected and the utility bill is on auto-pay. So, instead of over-drafting your bank account and paying that $35 over-draft fee to your bank account you plan ahead for the auto-payment to come through and you get a payday loan to cover the utilities. Then you continue your financial planning to cover the payday loan amount and fee for your next payday.

Can You Get a Payday Loan With Bad Credit

Often, a payday loan representative will have a contract that requires that you write a post-dated check for the total amount that you will owe upon expiration of the payday loan contract?.. Learn more at Payday Loan Texas and example

i have bad credit where can i get a payday loan

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