subject: 90 Day Bad Credit Payday Loans Approved In One Hour [print this page] If you need money in a hurry, but dont have the time to wait for your banks loan officer to approve your loan, a 90 day bad credit payday loan that is approved in one hour can be your light at the end of the tunnel.
90 day loans, sometimes referred to as cash advance loans, are available to borrowers who need money for a sudden and unexpected emergency, such as a medical or dental bill, a car repair, or a dead appliance.
No matter what the emergency may be or whatever the reason you need quick cash for, a 90 day loan can give you the money to satisfy your financial needs. Borrowers who have bad credit can qualify for amounts up to $2500, and borrowers who have a good credit score can borrow even higher amounts, which is dependent on how much their income is.
Bad Credit Loan Terms
The 90 day loan is the most popular short term loan amongst borrowers who have bad credit. The interest on the loan is due at final loan payment, and the interest rates compare to the interest rates that those with bad credit would pay on a traditional loan. The loan for bad credit has to be repaid within 90 days. Borrowers can make a payment each week for 12 weeks, a payment every six weeks, or a payment once a month. Many people stay up-to-date with the loan and make a payment on the loan every time they receive a paycheck.
Bad Credit Loan Requirements
Many people like this type of loan because it does not require the payday lender to perform a credit check. People who have a bankruptcy or a judgment against them will not have to inform the lender of these items that are on their credit reports. Lenders of 90 day loans only require a borrower to have a checking or savings account and a steady monthly paycheck to qualify for the loan.
Bad Credit Loans: How They Work
When you apply for the bad credit loan, you will give the lender a postdated check for the amount that you want to borrow, along with the accumulated interest and fees added by the lender. When the loan payments are due, you will either pay the lender the loan amount, or have the amount of the payment deducted from your checking account.
If you are using a savings account to make the loan payment, the amount will be taken from your savings account on the due date. If you have the loan amount electronically transferred from your checking account, rather than giving the lender a paper check, you will need to give the payday lender your account information, including the bank account routing number and your account number. In many instances, you can be approved for a loan and have your loan money in your account in as little as one hour.
