Wednesday, July 15, 2009

Even with horrible credit and self employment, can I get a payday loan? More details....?

I don't have a checking account, but I do have a savings to which $450 is direct deposited every month. Can I still get a loan?



Even with horrible credit and self employment, can I get a payday loan? More details....?

Well, do you have any collateral like a car in your name or a house? If so, your chances might be good. Try talking to a payday loan place to see what specifically they require.



Even with horrible credit and self employment, can I get a payday loan? More details....?

I do not believe so...you have to have a checking account that is active so in case you don't pay the loan back...they are able to collect on their money with like 40% interest.



Even with horrible credit and self employment, can I get a payday loan? More details....?

Payday loan? No. They require that you have a checking amount AND a statement that shows thirty days of activity without going into the negative. Those are a trap anyways and you will be stuck paying insane interest because you will never really have the money to pay it off. Try going to a secondary lender. I don't know what part of the country you are in but Pioneer Credit, Credit Central, places like that will give small loans $150-250 to people who are rebuilding their credit. Another great place is World Finance. Interest is higher than what people pay with good credit, but it does report to the credit bureau which will help your score. Just look in your phone book. Good luck to you!!



Even with horrible credit and self employment, can I get a payday loan? More details....?

DO NOT TAKE A PAYDAY LOAN.



Don't ever take one, ever, ever, ever. Ask friends and family, eat ramen noodles, whatever you have to do.



A payday loan will saddle you with HUGE interest debt for years to come and you will surely default on it.



Don't do it. PLEASE.



Even with horrible credit and self employment, can I get a payday loan? More details....?

Most payday loan companies require you to be working for a company and not be self employeed.

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