With the close of the recent economic recession, most people have found themselves stranded with no way of getting fresh credit at all, Banking institution have set stringent measures for new credit loan seekers, these has not played leniency either on people with negative credit ratings, however, there are other cash advance institution who would gladly offer advance loans to customer without credit check or income. These are payday and loan advance companies,
What's the criterion of qualification?
Payday and loan advance companies employ easy steps on qualifying for cash advancement, Prerequisite on getting the advance is more reliant on whether the applicant is employed, and earns a salary, loan advance companies keen interest is on the customer monthly salary since it acts as a litmus paper for would be defaulter and also gauges how much credit limit the company may extend to a customer, advances are normally short term loan that are repaid after periods of 15 to 30 days.
If you need fast cash an online application can give you loan advance of upto $2000 in a few steps, these takes a couple of minutes to complete the process and the eventual transfer of funds deposit into your checking or saving account. Additional requirement is that an applicant must have no previous cash advance balances, and must be of age to get into this deal.
What personal document do I need to send over?
Most online cash loan companies will ask for no documents, just a filled up page of personal information will do, there those that will ask you to fax copies of bank statement, driver's license, paycheck stubs etc. If you decide to use these loan companies your loan will not be approved until you have faxed the prerequisite documents. A non fax loan advancement company is better than the latter at any day for reasons of convenience, with the easy approval system they employ in approving loans one is guaranteed for credit in a flash.
Remember that interest is charged on the amount of credit you have been approved to have, interest is charged weekly or monthly this will vary with the amount you have borrowed and also the payday loan company giving the funds. Competition is high in this field and there are lots of online payday companies offering loans at cheap rates, qualified applicants only needs to log in to the internet, have there personal details ready and start the process, and within a maximum of 24 hours the funds are wired to their account.
Other places one can source credit is at the pawn shops, One can find loan advances on pawnloan shop, items of value are used as collateral, and interest is normally charged on monthly basis, the lender and the customer draft an agreement on the repayment period plus interest to be paid at the end of that period, unredeemed items are normally sold at the end of the term to recover any money lent. Majority of pawnbrokers will write to the borrower to advise or remind them that the term is about to end.