One Hour Bad Credit Payday Loan – Getting a Same Day Loan Today
Posted on | December 21, 2009 | No Comments
A one hour bad credit payday loan is a way that you can get cash almost instantly. If you need to get a same day loan today then doing some research on a bad credit payday loan might not be a bad idea. Before you decide that getting a same day loan or a bad credit payday loan is the correct decision for you it is important to understand how this entire process works and how much you will end up paying for it.
When you go into a bad credit payday loan lender you will find qualifying for money to be very easy. There is no credit check and the amount of information you need to give them is quite minimal. After you qualify for the amount of money you want to borrow, which usually takes about 20 to 30 minutes, you will then write a post dated check for the amount of money you want to borrow plus fees.
The amount of money you are going to pay in fees is dependent on the state in which you live. Most states regulate the maximum amount that payday loan lenders can charge in fees. This amount is usually between $15 and $35 for every $100 you borrow. There are a few states who do not have fees and you can expect them to be a little bit higher in these areas.
The date on the post dated check will be written for the day in which you are expected to receive your next paycheck. It is extremely important that you have the money in your bank account by this date. If you do not have the money in your bank account by this date you will either bounced a check or you will have to go into the payday loan lender and write another post dated check with more fees.
If you were borrowing several hundred dollars and you miss a few payments on these bad credit payday loans then you can imagine that the fees will add up very quickly. The only way you should consider taking out a bad credit payday loan is if you are 100% certain that you can pay this loan back. If you are not certain that it is a good idea to do research on different types of loan options.
Author: Heather Best
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