Do You Have Bad Credit, But Need Money Fast For An Emergency?

If you have bad credit but need money fast because of an unforeseen emergency

, obtaining cash loans without credit checks may be the answer for you. Financial emergencies can arise at anytime. One thing you can count on in life in the unpredictability of life. While we all know that we should be like ants that store provisions for a rainy day, the current economic times that we live in sometimes make it impossible to set aside emergency cash which is where cash advances come in.

Living paycheck to paycheck is not ideal which is made worse when an emergency arises for which you have no immediate funds and have to wait until the next paycheck. If you can't wait until the next paycheck such as when your car that you use to go to work breaks down and you need funds immediately to solve this problem, cash advances also known as payday loans can be the solution.

Even if your credit history is good and are able to get a short term loan from lenders such as banks, you may not be able to get this cash quickly because the loan application will have to be reviewed which can take days. Cash loans without credit checks on the other hand can enable you to have cash in your bank account within 24 hours.

What makes cash loans without credit checks very attractive especially for those with poor or bad credit is that having good credit is not part of the application process. Having good credit is crucial when you want to get a personal unsecured loan from other lenders such as banks.

While having good credit is not a requirement for cash advances or payday loans, there are still a few requirements that you must satisfy.

1. You need to have a job

Being eligible for cash loans without credit checks requires that you have a job that provides you with some level of income. If you are unemployed, you cannot be depended upon to repay the loan. While cash advance companies will be taking a chance on you due to your bad credit, they still have to be smart about whether to lend you money on not and in the absence of a job, it makes no sense to lend you money.

Many cash advance companies usually require that you make at least $800 per month. The amount you will usually be eligible for will also depend upon what you make each month since these are usually short term unsecured loans and you have to be able to pay them off by your next paycheck or a slightly longer period. The loan amounts usually vary from $100 to about $1,500.

2. You need to be at least 18 years old

A minor cannot enter into binding contracts so you must be of legal age where you can be held accountable for the loan.

3. Application form

To obtain cash loans without credit checks, it is important to complete an application. Depending on the cash advance company you use, some forms may be easier to complete than others. Upon approval, online cash advances will be transferred directly to your bank account. The approval process does not usually take more than 24 hours as mentioned previously.

by: James Forte

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