With bad credit, it can be difficult to get a personal loan and especially difficult if you need cash quick. A pay day loan or cash advance loan is your best bet if your credit is bad and you need money quick. The only drawback to these loans is that fees are high. You will usually pay about $10-$30 per hundred dollars borrowed, per week. So, you only want to borrow this money until your next pay day, you don’t want to depend on a loan like this for any type of long term need.

Pay day loan interest rates vary from company to company. Some lenders offer discount rates for new or returning customers. After supplying pay day loan company with required information, usually your name, address, employment and banking information, you can be approved in as little as one hour and funds can often be in your checking account very same day. Occasionally you may be required to fax your last pay check stub and bank statement prior to approval, but funds can still be deposited into your checking account very quickly.

Bad credit should not stop you from applying for a pay day loan. There will be no credit check, only verification of information you supply. Pay day loan companies do not check your credit report or contact your employer, except as necessary to verify employment. Applying and getting approved is quick and convenient. Online lenders can approve you application quickly and you'll have cash you need as soon as very day you are approved.