Having bad credit can limit your options whenever you are looking for a loan. Bad credit could be a result of your past financial history. For instance, you might have failed to honor your payment schedule in the past among other factors.
With bad credit, traditional loan payday lenders tend to be reluctant if you apply for their loan. This makes it hard for you to secure a loan if you don’t have the best credit score. Applying for an online loan may seem to be a viable option at the moment.
At Oak Park Financial, we completely understand that in life there are unavoidable circumstances. In such times, you may look for a new way to get financial help. Here, we will help you regardless of your credit score or your current financial status.
We are also aware that most people looking for a same day payday loan might have a poor credit history.
This is the reason why we offer approval to new borrowers who have poor credit scores. Note that with a poor credit score, you can’t qualify for affordable loans and credit cards.
We have alternative ways that we use to evaluate our clients’ profiles. We not only focus on a good credit score for approval.
Your loan request will be sent to OakPark’s payday lenders who are experts in personal loans. The cash advance will be deposited into your bank account if your online loan request has succeeded.
If you want to apply for instant short term loans with us, your first step will be to visit our website. Examples of the best loans you can apply to are online payday loans.
Secondly, locate our form for requesting bad credit loans and apply by filling in the required information. These are basically the main requirements before getting loan approval.
Before applying for an online loan, you first need to know how the loans work and some pitfalls to avoid.
Payday loans offer a cash advance to cover a financial gap before your paycheck arrives.
A payday loan is approved in small amounts and the repayment term is also short. The loans also attract high fee charges. It is easy to apply and qualify for the cash as compared to long term loan options like installment loans.
It is also simpler to qualify for the loan by submitting an online request form. Once approved, you can get approval in a matter of minutes. There is a large network of lenders that offer payday loans online.
What details do I need to qualify for payday loans?
Some of the details we need for instant same day loans are;
We require your bank details that we may use to send the loan amount once your loan application has been approved.
On the online payday loans application form, we require some additional information like your employment status and your income details.
This information is crucial for us since it will help us determine whether you are in the best position to repay the loan amount if you apply for the same day loan with us. It will also help us determine the rates and fees you qualify for.
The easy and free application process is very convenient. It can also be completed at the comfort of your home. You can also fill and submit it at any time of the day as it is always available online.
One important thing to note is that at Oak Park Financial, we do not solely rely on the borrower’s credit report that is normally kept by the major credit bureaus. You don’t need to have the best FICO score in order to qualify for our loans.
This is because carrying out such hard checks on a borrower’s credit report can lower their credit score.
If a borrower performs several credit checks over a short period of time, lenders believe that the borrower is always looking to secure loans. This implies that they do not have a good financial standing.
Instead of carrying out a hard check before issuing payday loans, Oak Park Financial carries out a soft check. It means that we don’t rely on the borrower’s credit score. We instead concentrate on finding out whether the borrower has the ability to repay their payday loans.
You can get the best bad credit loans online where there are many payday lenders who are willing to lend instant cash to people with a poor credit score. This type of online loan is permitted in 37 states.
Keep reading to find out some of the same day bad credit loans you might consider applying for payday loans online.
This is considered a high-cost short term loan that is usually designed to help borrowers with a poor credit history get cash when they have unexpected financial emergencies.
As compared to other types of loans, payday loans are usually repaid within a short period of time; normally during your next paycheck.
One reason to apply for this type of short term online loan is that once approved, you may receive the cash almost immediately. This makes them a good option for emergencies. . These instant loans are also a perfect alternative to credit cards and bank loans which take days to get approved.
When applying for this type of loan, you should be aware that they come with high annual interest rates and also their penalties and fees tend to be very high. The fees and interest for an online loan are much higher compared to other loan options.
This is a type of emergency financing that tends to use your car as collateral. With this type of loan, you are guaranteed to receive your cash in a matter of minutes. You can continue driving your car while making payments. This makes title loans one of the best same-day funding options.
In case you have a car and you encounter an issue that requires your immediate financial attention, then you may get some cash by pledging the car’s title.
Same day Installment loans might come in handy where you are looking to finance your loan over an extended amount of time. The loan term is enough for you to repay the loan and live a debt-free life again.
With these loans, you also stand a chance to be approved for a higher amount as compared to payday loans and title loans.
In order to be eligible for same-day loan options, you are required to have a valid checking account, be at least 18 years old, and generally have a sufficient income that will allow you to repay the loan.
The amount that you may be approved will depend on the lender as most loan sizes range from between $100 and $300. You can also get them on the same business day.