Monthly Archives: January 2012

No Credit Options For Those With Issues

No credit check payday loans are relatively easy to obtain. This is one loan that does not require a credit check. There are many no credit check payday loan companies in most cities and online. They do require proof of identity for obvious reasons.

Anyone applying for a no credit check payday loan must present a state ID photo or diver’s license, social security card, proof of employment or income, and a bank checking account statement, and three references with names, phone numbers and addresses.

Companies do not call these references so there is no fear of anyone knowing that you must use a payday loan company. Most companies will call your references phones, just to make sure they are a working phone number.

Generally no credit check payday loans will give the recipient a loan amount according to their income. Online loans are broken up equally and paid for once a month on a date that is agreeable with the consumer. Payments are taken automatically out of one’s checking account. No credit check payday loans online will have to have full payment of the loan before the consumer can reloan.

Walk in no credit check payday loans ask for the same ID information; however it is quite possible to reloan each time an account payment is made, by paying off the loan and reloaning the full or partial amount, whatever the consumer is able to do. The consumer writes a check for the whole loan amount and the store keeps this check. If at anytime the consumer does not come to the store and to make a payment, the store will then deposit the check into their bank. If it bounces then more fees start to accumulate.

All interest charges will apply each time the consumer reloans. If the consumer wishes to enter into an agreement to pay off the loan in equal payments, interest is figured into the whole amount and payment is brought into the store on the person’s payday. Federal laws state that no one can enter into another payday loan while one is in the process of being paid off. However, if the person reloaned then they can get one more payday loan through another source.

Using a no credit check payday loans company will help to answer the need for quick cash, without having to go though a credit check. Remember to abide by all the companies rules and regulations and not get caught with having the company deposit your check by making timely payments as agreed upon.