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What Are Real Payday Loans Online?
You may have heard of regular payday advances and might have applied for them too at some point in life while wondering if they’re real payday loans or not. If they are funded by a legitimate direct lender like PaydayLoanTeller who follows state laws, then yes, they are.
Unfortunately, most borrowers do not know about some third-party lenders who make your personal details public to match debtors’ applications with a lender. They also charge higher interest rates. Real online payday loan lenders on the other hand, fund you directly often with lower APR rates and longer terms like installment loans. For real cash loans, always go for certified financing companies for safe borrowing.
Who Lends Real Loans to People with Bad Credit?
There are some credit companies who lend real loans to people with bad credit scores. If you are one with a not so perfect credit rating, you can apply to PaydayLoanTeller to get an assured approval instantly, for cash advances like $200, $500 and even $1,000.
Traditional lenders without a doubt conduct credit checks in order to get to know the past financial transactions of borrowers, which is what they rely on in order to fund individuals. People with bad or undesirable credit ratings therefore find it difficult to get funded by such lenders. It is however these borrowers who need money the most.
What one should know about and keep in mind is that traditional lenders usually conduct hard credit checks to get to know about the previous financial transactions of their borrowers in detail. However, hard credit checks can further reduce the credit score, making it even more difficult for a bad credit holder to get a loan elsewhere. Direct lenders like PaydayLoanTeller do not conduct credit checks which means that your credit rating will not change at all, if you choose to apply with us. Also, the fact that we don’t rely on your credit rating makes it easy for you to get a loan with us if you’re a high risk borrower. The reason we do not consider our borrowers credit rating in order to qualify them as eligible or ineligible to get funded by us is because we do not think that depending on your previous faulty transactions is fair to you. If your current financial situation is a stable one, we shall be more than happy to fund you.
Our legitimate online loan help is intended to serve everyone that is facing a cash shortage and has a fair ability to pay off the loan by the due (judged by taking your income status into account) than having an excellent or no credit history. If you have a low income –yet a stable one- you can easily qualify for our cash loans for real.
Actual Payday Lenders Do Not ask for Collateral
Real payday loan lenders online do not ask their borrowers for security. That’s because they understand the difficulty in having to offer collateral when one is already in desperate need for money. Apart from the fact that one may find it risky to put up something as security in the first place, in most likelihood, a borrower coming to a direct lender and having bad credit, may not even have anything to put at stake.
Legitimate direct lenders online like PaydayLoanTeller know about and understand the situation which is why they offer unsecured real payday loans to bad credit holders as well. This not only lowers the risk of the borrower losing a lot but also gives a chance to those who don’t have anything to offer in the first place.
Legit Online Loans as a Solution in Many Circumstances
At any given time, hundreds of people have emergencies to cater to. It can be because of a medical reason, shortage of cash during the month, the need to fix or repair one’s home or the need to get out of a debt trap. In any case, legit online loans play a major role in being the solution to these problems. Not only do they provide loans to people with bad credit, but they also have other advantages which are:
- Avoiding travel time
- Avoiding paperwork
- Avoiding long queues
- Being accessible 24X7
- Requiring very basic documents to fund individuals
PaydayLoanTeller: A Real Online Loan Company
At PadayLoanTeller, we have years of experience providing legitimate payday loans and fair deals to our borrowers via the online medium of our website. We have these few simple requirements to suit the urgency that you may be in, as our process is designed to ease application and approval of loans:
- A citizenship proof, which also reveals a minimum of 18 years of age
- A proof of regular income.
- Details of the bank account for the cash deposit.
- Valid email ID and phone number.
Once these above-mentioned documents are ready with you, you can fill up the online loan application and your job will be done just like that. Whenever it is time for you to search for “legit payday loans for bad credit”, we shall be here to provide you loans that are secure and legitimate in every form.