Surviving Hardships

When you have bad credit, your borrowing opportunities become limited to either secured loan and bad credit loan. However, when you don’t have an asset to pledge as collateral for your loan, your option is limited to bad credit loan.

Bad credit loan, also called advance cash loan or payday loans, are short-term loans designed for people with bad credit. They are usually paid back on the borrower’s next payday and only offer small amounts, from $100 to $1000. That being said, an advance cash loan or bad credit loan is designed for small financial woes that occur in between payday. This could be to pay for an urgent car repair, bill, medical emergency or buy groceries.

One of the most attractive features of advance cash loan is that it is easy to get. Since no credit check is required to get advance cash loan, the loan process is easier and faster. The loan is usually released in 24 hours from application and the application process is simple through your lender’s website.

One thing that you should keep in mind however is that advance cash loan has higher than usual interest rates and this is because this loan is not secured to any asset and that it is considered a high-risk lending transaction.