Same Day Loans UK
No Credit Check Loans
Loans with no credit checks are often offered by lending services that will make loans to individuals who need quick cash and credit is an issue. Sometimes they are called payday loans or pay advance loans. Some banks and credit unions will make no credit check loans for those bank or credit union customers who have taken out loans in the past with proven good credit and are taking a second loan with no change in application information.
No credit check loans are usually the only way someone with bad credit will get a loan. Those with bad credit are considered high risk and some banks and credit unions usually have policies in place that do not allow those with bad credit to be approved for a loan.
No credit check loans can be found on the Internet by performing a simple web search for no credit check loans. There will be a number of loan sources revealed. It is essential the applicant check the sites out very carefully to make sure the lender is reputable. If the loan terms and conditions are not on the web site, ask to see them. If the lender makes claims of being an accreditated member of a financial or consumer group, check that accreditation very carefully. It is easy to post a logo and claim to be a member in reputable standing of a group or organization, but it does not mean the organization exists. Check with the Better Business Bureau and see if the lender is a member. If so, check out the claims made against the company and how they were resolved, if any complaints exist.
Most lenders who offer no credit check loans are usually independent lending services and are not banks or credit unions. The no credit check loans lender is usually not affiliated with a bank, credit union or financial institution that is regulated by the federal government and the FDIC.
No credit check loans are available for any amount from $100 to $1,500. The finance charges are higher than a standard bank loan and are payable within 7 to 30 days. Such loans are often used to fill in a temporary cash flow problem until the next paycheck arrives. It is a short term solution to a temporary problem and not meant to be a long term financial fix.
Applications for no credit check loans are simple and easy. They can be filled out online and submitted electronically or in person in the lending company has a store front location in your neighborhood. Most loans are available to those over the age of 18 and are employed with a steady income and an active bank account that can be accessed for electronic transfers.
The approval process is quick and cash is transferred to the applicant’s bank account within 24 hours. The finance charges can be steep, but that is the price of getting a loan with less than acceptable credit. If the loan is not paid back in a timely manner, the borrower will be subject to late fees.