Knowing you have bad credit can feel like a big weight around your neck, because
it can rule out access to traditional sources of money like bank loans or credit
cards. When you need a fast cash injection, your track record of paying bills, taking
and repaying credit and even where you live can seriously impact your options.
Bad credit loans have recently been touted as an alternative source of short term
cash for people with bad credit – some payday websites even advertise their service
on that basis – but does that make them a good alternative over traditional lenders?
Bad credit loans are usually small sums of money offered until your payday. The
size and length of the loan can be quite ridged but once you develop a good credit
history with us and ensure that your payments are meet on time we can extend your
credit limit. We can also provide references to other lenders your may require in
the future. For example if you are struggling to get finance on a car due to your
past credit history and you have developed a good record with us, we can provide
a letter to use with other lenders.
Critics of short term cash advances argue that if you have bad credit you probably
shouldn’t be borrowing money in the first place, or certainly not paying for high
cost credit like a pay day loan. But we live in a credit-based society and even
the best laid plans sometimes don’t account for unexpected expenses or a bad run
of important bills. We understand that people can get into trouble sometimes with
sickness, job losses and many other factors. If you do have significant black marks
on your credit record then the chances are that cheap loans won’t be available to
you. With a Cash Relief bad credit loan you know exactly what the charges will be
before you apply and there are no hidden costs.
You need to understand the difference between bad credit and bad debt. Bad credit
means you have missed payments on previous loans and may have defaulted all together.
Bad debt is caused when you over extend your debts and owe so much that you struggle
to have sufficient money left to live off. If the later sounds like you, a short
term payday loan is probably not the best solution and you really need to concentrate
on repaying some your other debt.
If you have had credit problems in the past and have a bad credit history we may
be able to help. But remember our relationship is based on trust, so if you want
to improve your credit you have to do your part.
Unlike a bank loan, Cash Relief doesn’t try to predict your reliability over several
years. We can provide bad credit loans fast, online and with no paper work. We can
often start with a small amount and increase this as your rating improves. If an
issue arises we prefer to work with a customer to find a solution which will help
all involved and avoid further damage to your credit history.
So bad credit could influence whether you can access a Cash Relied loan, but it
certainly doesn’t rule you out and - with flexible, short term loans of up to $600
available - the cost can be considerably lower than other bad credit loan providers.