How to Get a Payday Loan With No Credit Check

How to Get a Payday Loan With No Credit Check
December 21, 2018 cashdepot

Unlike a regular loan taken out from a financial institution, the payday loan with no credit check doesn’t require you to provide any supporting documents regarding your credit rating from your bank or credit institution. This is a personal loan that’s very fast and easy to set up thanks to an online form and your personal documents.

Why take out a loan without a credit check?

Taking out a loan without a credit check offers you a great deal of freedom. With a regular loan, you’re continuously held accountable. A loan with no credit check, however, is based solely on your current financial situation and not on your history, which can prevent you from moving forward. By opting for a loan without a credit check, you can use your money—that is, a sum ranging from $300 to $1500—freely.

Where can I apply for a payday loan with no credit check?

You can apply for a loan without a credit check from a private lender—that is, a totally legal company that offers an immediate solution for all your money worries. We all run into financial difficulties one day or another, and these private lenders are a great way to get yourself out of a delicate financial situation quickly. Their specialty is granting loans in a much less restrictive way than financial institutions. Their approval is also very fast, thanks to a simple, effective, and personalized online service. You can even receive funds the same day as your application if you request the advance before 11 am.

When to rely on a private lender

  • In case of bad credit

If you have bad credit or if your money need is above the value that your financial institution can grant you, the private loan is an attractive solution, because it prevents you from having to cancel your plans or getting yourself in trouble. The only thing to check is to know beforehand how you will be able to repay the lender.

  • A solution for getting yourself out of a rough patch

If you find yourself in bad financial shape due to any sort of unexpected event in your life, it may be preferable to do business with a private lender to get yourself out of this situation rather than letting it get any worse.

What conditions do I need to meet?

To be able to benefit from a payday loan with no credit check, you simply need to meet the following simple conditions before submitting your online application:

  • Be 18 years of age or older
  • Have a full-time job for at least 6 months
  • Use a Canadian bank account
  • Reside at the same address for at least 6 months
  • Be paid by cheque or direct deposit
  • Not be bankrupt
  • Not be subject to wage garnishment

You must collect the following documents and be aware that they will, of course, be verified:

  • Two pieces of photo ID and proof of your social insurance number
  • Proof of address (bill for a service that you use in your name)
  • Your last two pay stubs
  • A void cheque—Pre-authorized debit form
  • Your bank statements for the last 90 days

If you don’t precisely meet the lender’s eligibility criteria or if you’re missing a document requested by the private lender, you can still try to submit an online application. You simply need to be aware that your acceptance isn’t guaranteed.