Online Payday Loans for Bad Credit

Is it possible to get online payday loans for bad credit? Yes! With Personal Money Network, your chances of receiving an approval for an online payday loan increase because we submit your application to multiple direct lenders and because these lenders work in smaller dollar amounts, the odds of an approval are also higher than with a traditional bank. So, why wait? Apply today to find out if you qualify for a loan through the direct lenders working with Personal Money Network.

How do I apply?

Applying for an online payday loan with the direct lenders working with Personal Money Network is simple. Fill out the online form. It takes a couple of minutes to complete it and when you are finished, submit it and wait. Be sure to check the form for any spelling errors or mistakes before you submit it. Any inaccurate or missing information could slow down the application process, which could require someone to call you to straighten things out. The best thing to do in order to avoid this outcome is to ensure that the form is filled in correctly and completely before you submit the application for approval from the direct lenders working with Personal Money Network. You will also want to make sure that you are eligible to apply for a payday loan. Some states have outlawed payday loans. If you live in one of these states, you may not be eligible to apply for a payday loan online.

Is it secure?

Your privacy matters to Personal Money Network. We take internet security very seriously. We know that you are aware that there is a risk every time you enter your financial information into a form on the internet. This is why we use industry standard best practices for internet security. This means that your financial information is protected and the people that need to see your information are the ones who will be looking at it.

How fast is approval?

Once you complete the form, all you have to do is sit back and wait. Some of the direct lenders working with Personal Money Network are capable of reviewing your application and making a decision right away. Others take a little longer, so it just depends on which lender you’re working with. However, because the process takes place entirely online it is much faster than waiting for a letter to arrive in the mail from a traditional bank. Once you have received an approval from a lender, you will be sent to a page where you can review your contract. Personal Money Network cannot stress enough the importance of reading everything in this contract, especially the fine print. No one deserves to be surprised by loan repayment schedules or amounts. This information is contained in your contract. Read it carefully before you sign and make sure to ask your lender any questions you may have before you commit to the loan.

What if I have Bad Credit?

Even with bad credit, payday loans online are possible through the lenders working with Personal Money Network to get you fast cash like a payday loan. Since we work with multiple lenders, some are willing to take a chance on you, and a poor credit history or bad credit rating should not prevent you from applying for payday loans through us.

What’s the difference between a hard credit check and a soft credit check?

That’s a great question. A hard credit check is a traditional type of check that is run through one of the major credit reporting bureaus such as Equifax, Experian or TransUnion. These companies maintain a complete credit history on you and periodically check in with creditors to establish a credit score for you. Your credit score determines your borrowing power through a number of factors, some of these include the amount of money you have borrowed and how quickly you have repaid the money borrowed once you have taken out a loan. These agencies operate in line with the Fair Credit Reporting Act, which regulates them and are monitored by the Federal Trade Commission and other agencies because they deal with very sensitive information on a large number of US citizens.

A soft credit check is also known as a non-traditional credit check. In this type of a check, a potential lender examines your current bill paying habits, the amount of money you owe in your current bills each month and your monthly income to determine if you are capable of paying back a loan within the term of the agreement. Once they examine these factors, they are able to determine whether you qualify for a loan through their company or not. While less invasive, this is still at type of credit check.

What about no credit check loans?

No credit check loans are a type of loan that some companies claim to offer. They claim that they don’t do a credit check at all and this might increase your odds of receiving an approval for a loan. The truth is, this is not the case. Even if all the company does is look at your employment history, this is a type of credit check too. No lender extends any type of loan without doing at least some minimally invasive type of credit check. They may not call a major credit reporting bureau and may instead choose to look at your most recent paycheck and the amounts of your current monthly bills to see if it’s possible for you to make your loan payments on time, but that is also a credit check. Don’t be tricked by companies that claim to offer no credit check loans. These do not exist.

What if I have unexpected expenses?

No one can plan for every outcome. Sometimes, you get a flat tire, or maybe your transmission goes out and your car is just out of warranty. Refrigerators break down and predicting the repair cost is difficult particularly if you have no idea what’s wrong. Maybe you had to go to the emergency room and had to cover an expensive copay and now you can’t afford the rest of your monthly bills? You don’t always know that an emergency is going to happen that will ruin your financial plans. This is why Personal Money Network set out to create a place for everyone to request online loans through the direct lenders that work with PMN. It doesn’t really matter why you need money now. A potential advantage of getting a payday loan online is that you are simply given the loan amount with no questions asked about how you are going to spend it. You are not limited in what you can spend it on. Use it to pay bills, or to avoid accruing late fees on another debt. Payday Loans can even be used in some cases for loan consolidation. It doesn’t matter why you need the loan. Simply apply today. Once your application is processed, you will receive a decision.