Rent, groceries, gas, electricity: These are but a few of the expenses that you cover monthly, if not weekly or daily. They are planned in your budget if you keep one. But what if your car breaks down? What if your cat requires urgent vet care, or if a water leak in the basement causes significant damage? Is your budget enough to back you up in case of emergencies?
Accidents and surprises happen, and they can be expensive. Sometimes, we need to borrow money to handle them. Unfortunately, that can be a nightmare for those with a bad credit score, who are often turned down by banks who consider them at-risk candidates. If this is your case, know that there is another solution: You can access emergency funds if you work with a lender that provides no credit check loans.
Bad Credit 101
Bad credit can have many negative repercussions, such as making it harder to get car and home loans, or to qualify for credit card accounts. It can even have an impact on your insurance premiums or your job searches.
The quality of your credit depends on many elements. Look at your payment history first: Even a single late or missed payment may impact credit reports and credit score, no matter the amount. Using more than 50% of authorized credit on average will also affect your score. After all, the more credit products you have, the more likely you are to get into debt! Bankruptcy filing, charge-offs, and defaulting on loans are other bad credit causes.
Simple, Confidential and Guaranteed
Providers of no credit check loans don’t require credit checks or ask you to provide them with documentation in order to approve your application. Instead, they base your eligibility on simple criteria such as your age, if you have a steady monthly income or how long you have been employed. Your answers to those questions are verified with Instant Bank Verification, a secure technology used by reputable financial institutions to allow agents to look at your statement without granting them access to your personal information and bank data.
Applications are conducted online from A to Z. More often than not, you don’t even need to speak to an agent, not even on the phone. You don’t have to wait for long either: It takes 24 hours at most for your loan to be deposited into your account once your application has been submitted. That’s what makes it an extremely interesting solution if you need immediate financial help but have been turned down by the bank.