subject: What Are Loans With No Credit Check? [print this page] Are you looking for a no check loan? In today's economic climate, it is increasingly common for people to look for loans or other forms of credit that don't require a credit check (or any other check for that matter). There are a number of reasons that this is happening, the main one I believe is that as the credit crunch takes and continues to take hold, people have had to tighten their strings and their credit commitments have been neglected due to this. This neglection of credit could range from missing the odd payment on a credit card, to having to move to more extreme debt management activities such as an IVA or debt management programme. These people may still need finance, especially for emergencies (such as a washing machine breakdown), but are unable to now get traditional credit due to their degraded credit history. In cases such as these, some people have no option but to find a no check loan.
No check loans can vary from short term cash advances (till next payday), to longer term loans. Because of the increased risk involved to the lender, the APRs associated with these loan products is normally far higher than traditional lending products. If you put yourself in the lenders position, someone with bad credit history may continue on that same path and fail to repay their new item of credit as well to offset this problem, customers are charged a higher rate across the board to make sure the company retains a profit at the end of the day.
If you are looking for a no check loan then there are various companies who offer products now days. My suggestion would be to look around at whats on offer and find the product that is most suited to you, both on an APR and flexibility basis. Also be sure to repay the finance as this should improve your credit rating and ultimately once again unlock the traditional finance that used to be abundant in society.
