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For most loans to be granted, you must have a good credit rating. Anyone with good credit will find it easier to get financial assistance from any organization, while those with bad credit find their applications rejected. This is however different in the case of bad credit payday loans, where the only criteria for loan applicants must be that they are over 18 and have a job that provides a minimum wage of $ 1,000 per month to qualify. Bad payday loans are indeed a blessing for those who need money in a hurry, but there is no way to get it because of their credit status.
The payday loan lenders usually provide small amounts of cash between $ 100 and $ 1,500 to candidates on a short term basis, at rates that are higher than normal. The borrower must ensure that this amount is repaid at maturity to avoid interest and penalties for late payment. [source] |
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