Emergency Payday Loans for Bad Credit
Oftentimes in life we would be faced with circumstances we never foresaw or expected. These circumstances usually call for you to act fast and quick so you would be able to solve it effectively. These unexpected situations usually comes with high expenses and might even call for the need to take out a loan. Most of the time, loans would solve your dilemma quick and easy but if like a lot of people out there you also have a bad credit score you might feel discouraged to even try to apply. However bad your credit score may be, you should remember that it shouldn’t stop you from applying for loans especially since there are a lot of loans available where lenders would grant loans no matter what your credit standing might be.
What is a bad credit?
Your credit score is a reflection of how well or how bad you were able at keeping up with you loans. It’s sort of your report card when it comes to loans and like in school these are also compiled by someone who’s an authority in this field. Your credit score would now be available to loaning companies and they would use this as a criteria to knew whether or not they should approve your loan.
There are several reasons as to why you might get a bad credit score. One reason is missing a payment on a previous loan. Another reason are unpaid debts on credit cards. Finally, your bad credit may be due to being rejected for loans in the past.
How to know if you have a bad credit score?
The truth is there’s no specific score that’s regarded as a bad credit score. However, as a rule of thumb, if you have a credit score that’s in the lower 600s and below you are considered to have a bad credit score. Of course, the easiest way to know if you have a bad credit is by computing for your credit score. You should also be aware of your finances and you should know whether or not you’ve missed a loan payment or if you still have unpaid debts. Your bank lowering your credit limit as well as getting higher rates when applying for loans are other signs of having an unimpressive credit score.
What are emergency loans?
Emergency loans are loans that are generally approved on the same day. These loans are perfect for situations when you need the cash quickly and without many requirements. A good place to get your emergency loan is pounda.co.uk. They have great rates for your loans and they also same day approval for those who need cash fast. They also approve as many loans as they could as long as your profile fits the loan you’re applying for. This means that having a bad credit score would have no effect to your application.
How to apply?
In Pounda, there’s a quick step by step process for your application and it’s all done online for your convenience. First you would be asked to fill out a simple and quick form. This form only asks for the essentials and won’t be multiple pages unlike the usual forms you fill out for loans. Typical questions that are asked are about your personal information like your name, where you work, and how much your salary is. These questions would help those who will review your profile to know whether or not you should be granted a loan. Aside from the form you would also be asked to give information about your ID card, your bank account, as well as your pay slip so please have these ready when you start your online application to avoid delays.
After you’ve submitted your requirements, your application would now be reviewed. You’ll typically get the decision within the day. In Pounda, they have a high approval rate so you have a higher chance of being granted a loan. However, do take note that although they are less strict with the requirements you should never request a loan amount that’s higher or almost the same amount as your salary. Doing so would decrease your chances of getting your loan approved. In cases where your profile might not be a fit for the loan you’re applying for you can the representatives from Pounda might suggest that you consider a loan that has a lower loan amount.
Once your application has been approved, the loan you requested would now be deposited to your bank account. This whole process usually takes place within 24 hours so it’s very fast and hassle free. Same day approval is also available meaning if you apply in the morning and you get approved immediately you would have the money in your back by afternoon of the same day.