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Payday Loans Where No Credit Check Takes Place

Payday Loans Where No Credit Check Takes Place

If I was to tell you, you can get a payday loan with the lender not looking into whether you have good credit or not, you might not believe me. Payday loans and no credit check is something which sounds like a tale from a loan shark but there are a number of small lenders that can give you a loan providing you can prove you can pay back the money with interest.

Pay day loans with no credit check have the advantage of being able to place money into your bank account – usually within 10 minutes, give you a decision right there and then online, not charge you any fees and also offer a remarkably high acceptance rate.

No credit check payday loans are now so popular there are a number of websites that act as search engines pointing you in the direction of 20, 30 or even 40 lenders who all will offer payday loans online with no credit check!

Payday Loans

Banks and those big-time payday loan companies tend to want to know what your loan is for. But a payday loan company offering instant access and an instant decision can let you know inside the space of just 10 minutes and will not ask you what you want the loan for.

There are some stipulations that you should be aware of: payday loans from online companies that require no credit check will not permit a loan if you are paying off another loan. This action, commonly called “robbing Peter to pay Paul” is not sanctioned or permitted in law.

Your payday loan with no credit check should be used for paying off unexpected electricity or gas bills, emergency car repairs, rent payments demanded by a landlord, food and drink from the grocery store and service charge payments.

It is unlikely your loan will be approved to pay off an outstanding credit card bill, money you owe to another lender or payday loan company or bank loans. Interest rates have been capped at 0.8 per cent per day following recent government intervention and regulation, so these payday loans with no credit check are well worth looking into if you have a small but important debt outstanding.

There are implications for those who cannot pay on their payday, but help is always on hand from the Money Advice Service in the U.K. and of course, Citizen’s Advice Bureaus.

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