You have bad credit and you need a loan badly, because if you can find even a small one it can help you pay off your bills for the month. The problem is you keep getting turned down for loans because of bad credit. Luckily, if your credit is really bad there are places that will provide you with a loan because they don't run a credit check on your finances.
Payday Loans
Getting a payday loan is a good solution if your credit score is lower than 550. Payday loans get their name because they must be repaid in full by your next paycheck. They are simple to get, winning approval if you have a full time job, an active checking account, and make at least $1,000 per month.
When applying for a payday loan you will need a copy of your paycheck, five references, a voided check, and checking account that has been active for at least six months. You can decide how much you'd like to borrow, but the more you borrow the higher the interest rate. They can be dangerous, too, by causing you to get in more debt, so only borrow what you can pay back on your next payday.
Title Loans
Car title loans are simple to get approved and don't require a credit check. They also require little income verification or personal information. Title loans are given in exchange for signing over the title of your vehicle to the lender. But they can be risky if you don't pay them off in 30 days because the lender can take your car. So only use this option if you are certain you can pay the loan off in 30 days, as the interest rate on these loans can be as high as 300 percent.
Also, be careful to read the fine print on all the paperwork you sign. The loan amount is determined by the age and condition of your vehicle. In addition, you must have insurance on the vehicle and the state tags must be up to date.
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