Credit History And Loans

Loan "to pay" – is a quick way to get cash for a short time without checking your credit history. Millions of Americans work hard every day to pay their bills on time. Nevertheless, Many of them have resorted to being able to use the credit "to pay" for their immediate needs. In the United States to get a loan "to pay" does not require verification of borrower's credit history. Credit is given to date of payment of regular salary and must be repaid with accrued interest. To get a loan "to pay" the borrower must provide their personal data have an account with respect to well-known bank, and have a guaranteed monthly income. Lenders do not check the borrower's credit history and do not conduct any other investigations to ascertain the borrower's ability to repay the loan.

In the U.S. loans "to pay" is available in stores of goods on credit, pawn shops, through free 1-800 numbers and Web sites. Borrowers who arrange the loan through the site must complete an application form online or send it by fax. Repayment of the loan together with accrued interest shall be effected by cheating with the borrower's bank account in day of receipt of wages. More recently, online loans "to pay" under the watchful attention, because many of them are automatically renewed, unless they were repealed after the last payment. Therefore, borrowers are advised to read the contract before agreeing to all terms and conditions.

With the help of credit "to pay" a borrower may receive from $ 50 to $ 1000 for a period, an average of 2 weeks. Compared with other types of cash loans loan "to pay" much more expensive. While effective interest rate on credit cards on average 57%, and loan "to pay" 426%. There are some risks associated with this type of loan. Because of high interest rates on loans "to pay" borrowers with low credit status or are in financial difficulty often have difficulties with payments. This often forces them to repeated short-term and costly loans that can lead to full the need for cash. In order to avoid the urgent need for cash, savings deposit can be issued for the immediate needs and to replenish it every month, set a monthly spending plan and savings postpone non-urgent expenditure for the future.