bad credit payday loans

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When you need a loan to bridge the financial gap between paychecks, a payday loan is an obvious choice. But, you say, I have bad credit. Are there really bad credit payday loans out there that I can get approved for?

You Can Get Approved For Bad Credit Payday Loans

The fact is, approval for bad credit payday loans is virtually guaranteed. The only people who don’t get approved are normally those trying to apply while under age 18, those without a US bank account to receive the funds and repay the loan from, or those who have other fast cash loans that are still outstanding or that they recently defaulted on. Also, you have to have a verifiable source of income.

But aside from these very basic standards, you are guaranteed approval. Some payday lenders will require collateral and will restrict lending based on credit scores, but there are many others who will not do these things.

If you have badly damaged credit or no significant credit history at all, you can still get approved. Why? Because these lenders are concerned with only your ability to repay based on your income level and not on your credit score. They don’t even bother to run a credit check since it isn’t relevant to them and would only complicate the process and needlessly slow it down.

You Can Get A Reasonable Deal On Your Next Loan

Bad credit loans don’t have to be unreasonable and unaffordable. Of course, there are disreputable lenders out there to be avoided, but there are also many lenders who will give you a good, competitive deal on your payday loan.

Payday loans have relatively high APRs, and you usually have to pay some kind of origination fee as well. But they are also for very short terms and for only a few hundred dollars in most cases. That means the total dollar amount you pay in interest and fees may not be that high IF you find the right lender. Some credit cards would actually end up charging you far more interest than a payday lender would.

Another factor is whether you get 2 weeks only or 4 weeks to repay your loan. Many lenders will give you the option if you need more time. And they’ll consider how far it is between your paydays as well.

We Can Help You Locate Your Best Possible Loan Offer And Lender!

Your bad credit payday loan is out there somewhere. All you have to do is find it! Easier said than done if you have no search tools to assist you, but luckily Bonsai Finance is here to help!

We let you search your desired loan type, be it payday or personal loan or something else, and dissect the offerings based on which ones accept bad credit, don’t run a credit check, offer lower rates and fees, or anything else you want to search based on.

Our helpful staff can also give you insight into which lenders in the industry are reputable and have been around for a long time. We know which lenders get the best reviews and customer satisfaction rates and which ones you should or should not trust. We also can give you direction as to which lenders will work with you if you get behind on your repayment and which ones tend to make it as hard on you as possible.

Bonsai Finance has the expertise to steer you clear of less than desirable payday loans and bring you into contact with bad credit payday loans that actually meet your needs. Our vision from the beginning was to efficiently match each user with his or her absolute best loan offer in only minutes’ time – and we continually succeed!