Despite being a risky borrower because of the faults you made in making payments in the past, bad credit emergency cash loans can be an option for you. But, there is a high cost that you have to pay. Hence, borrow the money carefully to pay off that urgent bill.
Depending on your monthly salary, these loans can provide you 100 to 1000, without taking any security. However, the borrower must be a US citizen of 18 years or above, drawing a monthly salary. The applicant should also have an active checking account in a bank.
Bad credit history like late payments, defaults, arrears is usually not a big concern for the lenders. They can approve the loan amount without making any credit-checks. This is mainly because the lenders do not see many risks, since the loan is based on the next paycheque. The approval is for two weeks, with the option of extending it for a month.
Moreover, these loans are given against a post-dated cheque from the borrower or giving permission to the lender to get back the loaned amount plus fee on the due date from the borrower's bank account.
However, bad credit emergency cash loans are known for their high costs. Because of being unsecured loans for very short period, the lenders charge high fee, which may go up to 30 percent. So, pick up the loan only when you have no other alternative.
In today's highly competitive loan business, you can find bad credit emergency cash loans at comparatively lower fee, once you have made extensive comparison of many such offers on internet. Make sure that you repay the loan on due date.