No matter what your bad credit history, cheap payday loans do not discriminate against the bad credit score. It is very difficult for a person with a bad credit history to get a loan through traditional means. You should have a very good credit history to apply for a traditional loan. That is one of the most important eligibility criteria to apply for such loans. However these loans do entertain people with a bad credit history. The loans are approved irrespective of their credit rating. Since there is no credit checking or back ground checking the loan amount is approved very quickly and the cash gets deposited by the lender to the customer's bank account. It works out much cheaper than the unauthorized bank over draft fees. It helps to bridge the gap between pay checks. In most cases the processing is carried out within few hours and the cash gets released. A post dated check would be submitted by the borrower to the lender as an assurance towards the repayment. external link
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