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No Check Payday Loan Lenders - Get Fast Cash and a Decent Rate
Being in need of cash advance and having bad credit is quite a horrid combination. Luckily though, there is actually a way for you to still get the cash loan you need without your poor credit standing in the way. How? By going to private payday loan providers who specialize in weak credit quick cash advances.
Where Can I Find These Private Payday Loan Lenders?
You won't likely have the ability to find bad credit quick cash loan companies in your local area. Thankfully for you though, that is a positive rather than a negative. Why? Because with on-line payday loan companies, you not only have more options, you also have far fewer problems. Merely visit you're favorite search engine and do a fast search on guaranteed poor credit cash advances. You'll become more than satisfied with what turns up.
Do Bad Credit Payday Cash Advances Cost More?
Generally, yes. Poor credit payday advances cost extra in interest due to the lack of a debit check. Because the lender is foregoing the need of a debit check, he/she is making up for that "risk" with a slightly higher interest rate. Typical rates of interest for these sort of cash advances range between 15% and a whopping 30%.
What Happens If I Don't Pay It Back?
Since the procedure is normally automated, allowing the provider to withdraw the payday loan payoff directly from your checking account the day the payday loan will be due, the first thing that can happen is you'll be charged an overdraft fee by your own bank. If you do not repay the bank, your own accounts at the bank may be closed and you can get a permanent black mark on the record for the actual incident.
Furthermore to the financial problems, private no check payday loan lenders will in addition start attacking your credit score, causing it to drop even lower than it currently is. The lender will continue adding on penalties and interest to the cash loan until you pay it back; meaning the amount won't ever stop growing. If following months of no payment, a provider may pass on the debt to a collection agency who can sue you in order to collect on the amount.
