subject: No Credit Check Loans : Timely Help When Urgency Strikes [print this page] Bad credit history is surely a huge barrier when you approach a lender for some money instantly. While not every lending company will take the risk of providing you with a loan, there are some lenders who will readily offer you no credit check loans. In fact, you will not even reveal details of your past faulty history of paying of old debts.
These loans are called so because the lenders do not put the applicants under any credit checks. Without telling them about your multiple cases of payment defaults, late payments, arrears and CCJs, you are allowed to borrow in the same day for any urgent or regular use. The loan amount is electronically given into the bank checking account of the borrower in the same day.
No credit check loans are thus useful for people having a bad credit history. But these are smaller loans ranging from 100 to 1500. The loan approval though comes quickly but it is for two weeks only. To cut the risks, the repayment duration is set as your next payday. Thus, within a short period of few weeks you are completely out of the loan burden.
While you are not at all subjects to the credit checks, do not forget that you would be making a good amount of interest payment through next paycheque. This is because of high APR on such loans.
Therefore, do not be tempted to borrow from any lender. Instead, first extensively compare as many offers of no credit check loans as you can so that your repayment burden is little easier on the paycheque.
Though these loans are ideal solutions when monetary urgency is the primary concern and you need to repay expensive bills in the same day, but do not stretch the repayment for a month or so. This will lead you to debts. So, repay no credit check loans always on the due date.
