Get a payday loan with bad credit

Like so many people in the 21st century, money isn’t the only thing that we’re constantly trying to get more. We’re also fighting the daily grind to squeeze out every ounce of time there is to be had in a regular day. With so many home and office duties to work on during the day, time literally seems to fly and before you know it, it’s time to hit the sack and begin the same routine anew.

Cash - payday

The internet has given us many opportunities to do things that would normally require travel in the comfort of our own homes. From online shopping to telecommuting, the information superhighway is a limitless network of information, data sharing and convenience. The finance industry has benefited from this technology as well, as in the case of payday loan.

What are online payday loans?

Payday loans with bad credit are types of loans that mature on your next payday (typically in two weeks time) and you don’t need a great credit score. Usually consisting of a relatively small amount, payday loans are short term lending that are suited to settling bills with immediate deadlines and other payments that simply cannot wait until the start of the next month. The high interest rates of payday loans do not make them ideal for long term financial risk mitigation, that is why paying them on time is of utmost importance.

Who to choose?

With so many fast cash advance sites to choose from, it might be a bit of a struggle arriving at a specific choice. List down the sites (in comments) that seem to have the most accreditations as well as online recommendations, and narrow them down to a handful.

Search for some blogs and online forums about customer satisfaction review on these companies, surely you will be able to receive first hand information from a consumer standpoint. Ask your friends and relatives, too, if they’ve had the chance of completing an online loan transaction and with what company. If their experiences have been favorable, chances are yours will be too.

At the end of the day

Whichever company you choose to obtain your online payday loan, the important thing to remember is that you should always pay your loan on time! If you don’t want to risk being blacklisted or billed for overdue penalties, it’s best to set aside the loan amount come payday so that you don’t get yourself in a bind because you “just forgot” about the whole thing.

Banks won’t accept that, loan shops won’t accept that too and neither should you. Paying liabilities on time is an important step in building a good standing reputation with these banking and finance firms.

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4- FIGURE OUT HOW MUCH CASH YOU HAVE ACCESS TO

If you’re like me you probably need as much money as you can earn and find. Let’s think about some ways to free up some cash you may have not considered. When I finally reached the end of my rope financially I had been with the same job for seven years. $1000 per week was my salary and was the best money I had made by the age of 30. Although I had a college degree I lacked specialized skills for the job market. Fear of quitting my job and the unknown aftermath was part of the problem. In order for me to rectify my credit in the time I wanted, more income was necessary. First of all, see if there are physical items or services that you can do without. Here is a list of things that you might be able to live without.

Telephone (land lines and cellular)
Cable TV or Satellite
Furniture or appliances
Pets
Video games
Musical Instruments
Real estate
Vehicle

This list can be much larger. However, these are some of the things that you can stop using (services) or maybe even sell for needed cash (physical items). I recently went on www.ebay.com and auctioned off everything in my house that I really didn’t need. Some of the items were musical instruments and video games – even some books. Just make sure that you charge the other party enough shipping or you will lose money there. I sold an electric guitar by advertising in the local paper. As it turns out I had more cash at hand than I realized!… more

1- DON’T INVOLVE A THIRD PARTY OR FILE BANKRUPTCY

When all the money you make each month isn’t enough to pay your minimum payments it can be quite disheartening. I remember in the summer of 2015 not being able to make ends meet and not sleeping well. My phone was ringing off the hook from bill collectors and I was extremely stressed out. It really seemed as though there was no way out. The real problem was that I didn’t know what my options were.

Filing Bankruptcy is bad for a number of reasons. First and foremost, it means your going back on your word. If you aren’t the type of person that is interested in honoring your commitments then this article isn’t for you. By all means – go ahead and give your money to some lawyers. But if honoring your word means something to you, then relax and take a deep breath, everything is going to be O.K.. Bankruptcy is bad. You’ve seen the loan applications that have that question Have you ever filed bankruptcy? It doesn’t specify in the last seven years. So once you go down that road, you’re branded as untrustworthy or High Risk. Don’t get me wrong. Eventually your credit score will improve and you’ll be able to borrow money again. But bankruptcy should be the last option – only after you’ve honestly tried every other available option and failed.

Perhaps you’ve seen the commercials on television. Some nice financial do-gooders who are going to help you lower your monthly note while at the same time settling your credit card debts for a fraction of what you owe. It seems like such a wonderful idea. Basic premise: you save money while sticking it to those BMW driving Bank CEO’s. In other words, you should be aware of what kind of bottom dwellers you are dealing with. I have to give this subject some extra attention. Bankruptcy and settling your credit card debt is a large part of the problem driving today’s high credit card rates. After I failed to pay Bank of America and Citibank for three consecutive months my interest rate went from 21% up to 32.6%. This is called the default rate and is applied to a customer when they become High Risk. Believe me I was angry and wrote them letters requesting it be lowered. Of course they didn’t and looking back I don’t blame them.

Basically the Bank is using me to settle the score against the people that do in fact file bankruptcy or settle their accounts. Since they are losing money by loaning to those High Risk customers they need to recoup it from others. Hence 32.6% default rate. The Banking sector in today’s U.S. market is without a doubt one of America’s most profitable endeavors. American culture has convinced everyone that they need anything they want and now (when they can’t afford it) instead of later (when they could afford it). Banks are not all bad. They keep this monster machine rolling. People can build houses and buy cars because of banks. Our economy is dependent upon them and they should be profitable. This doesn’t make me feel all good inside either but it’s still what makes the cookie crumble. The point is that this default rate is necessary. Not to mention that it wouldn’t be my problem if I had been more responsible in the first place.

The problem with using the financial do-gooders is that they fail to mention the negative consequences of using their service. Back in the summer of 2015 I called one of these companies I had seen advertised. A person answered the phone and asked me some questions about my income and my bills. In 3 minutes she had concluded that I was eligible to be in their program. It happened so fast I felt like I was another victim of a high pressure sales presentation. Under the guidance of their opportunistic lawyers I would pay their company $600 per month. Of this $600 they would keep $60 for themselves (handling fees?) and the rest would go into an account which they would watch over for me. When this account had reached a certain amount, they would make the first Bank an offer. For example, I owed Bank of America $6,800. Once my account has about $3,500 they make Bank of America an offer to settle at roughly 50%. It becomes a bargaining game as Bank of America shoots for a higher percentage. These lawyers (negotiating on my behalf), tell Bank of America that if they don’t take the offer then this money will be offered to Citibank as a settlement and they might accept it. This means that Bank of America may be looking at another year or two before they get another offer from me the client! If you are like me then you’re probably asking yourself ‘Why can’t I just do this myself and keep my money?’ You can!

What’s bad about this is that you’re now giving money to a third party that could be applied to your debts. And this third party now has ALL of your money. Does that sound like a good idea to you – someone else having all your money? In the package that these lawyers sent to me, it described the manner in which I could confiscate my funds away from them, if in the course of things, I changed my mind and wanted my money back. From what I can remember reading it didn’t sound like fun. Also, while all of this is going on, your credit history and score suffers. And even once the balances are settled, you’re still left with a gaping hole in your credit report. This means that on future loans you’ll pay a higher interest rate. Paying a higher interest rate on future loans will prove more costly than paying what you owe and salvaging your credit now. Not to mention, while your money is growing in their account the interest and fees are still being charged to the money you owe Bank of America. So what started out as $6,800 one year later is now $10,220!

Once I received this packet of information (which I paid $50.00 for) I realized there was even more for me to worry about. It stated that monies I owed Citibank could not be settled – so I would still owe Citibank the full amount. It was actually an AT&T Universal credit card. But as it turns out, Citibank had bought them out some time ago. These professors of law and good will didn’t tell me this – I found out about it on my own.… more