Payday Loans Bad Credit or No Credit OK

What is a payday loan? They are a form of credit that is advanced to someone prior to their receiving their pay cheque. The loan is usually repaid when a person receives their work cheque. Are you employed or currently receiving benefits? If so, then you likely qualify to receive a short term loan.

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Bad Credit Loans What are bad credit loans?

People sometimes have to borrow money when they have a financial crisis. During a crisis, some people fall back on friends and family in order to make ends meet. Not everyone can do this, and so an industry formed around lending small amounts of money until a person gets their next pay check.

Not everyone has great credit, but they have a job. If you are employed or receive benefits, chances are you can get a payday loan. By relying on your employment, a lender can skip giving a credit check and provide a "no credit check" payday loan.

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Welcome to Jerome Poitevin Payday Advance

Direct payday loan is a lending scheme that allows customers to borrow directly from a payday loan company. The scheme is cheaper compared to payday loans that go through brokers, as no additional fees from the broker are incurred in the transaction. Direct payday loans are availed by a person who needs fast cash or cash advance, but wants to have a cheaper deal and manageable interest of fees. Direct payday loans are ideal for people who needs money immediately, as the process is faster and easier compared to bank loans.

People with bad credit score usually have a hard time getting a good deal of loan from the bank. They are either rejected or given a very high interest rate. In direct payday loan, people with bad credit rating can have an equal chance of approval. The loan is unsecured so guarantors are unnecessary. No collateral is needed, so the customer has less chance on losing properties like house or vehicle if they fail to pay the loan. The amount that can be borrowed ranges from 100 to 2500. The minimum age that can borrow money is 18.


The term of payments vary from 2 weeks upon borrowing the money to 24 months on an instalment basis. Customers should understand that for the same amount of borrowed money, shorter the instalment, the lower the interest. Likewise the longer the payment term, the higher the interest when paying back the money borrowed from a lending company. The borrower is required to write a post-dated check and is withdrawn by the company on the next payday. This is applicable for one-time payment only. For instalment, one may authorize the lending company to directly withdraw from the borrower's account. Late payment may incur penalties. Payday loans may affect the credit rating of the borrower.

If the borrower fails to pay, the lending company reports the borrower to the credit bureau and may affect the credit score of the borrower. It may also help the borrower improve their credit rating. The payment is usually given in such a way that it is affordable and short. Long payment terms incur uncertainty in paying the loan, as many things may happen to the borrower in a year or two such as unemployment or accident that would prevent the borrower from working. This could make the borrower fail in paying the debt and dent his credit rating. For short term, this scenario is unlikely to happen and protect their credit score. In certain cases the lending company reports borrower who pays adequately on time and may improve the person's credit rating.


Applications may be filed from the direct lender's website. The company's websites are usually convenient when it comes to requesting quotations. The websites offer a method where the customer can input the amount needed to borrow and the length of time that they want to pay the debt. The company gives the amount that should be paid every month. This can help the customer assess if they can afford the payment. The application may be approved and the money is received on the same day. While online application is convenient, direct payday loan companies also accept in store application. This option may be cheaper as no additional fee (such as web fee) is required.

When customers are shopping for the right direct lending companies, they should look for the best company that offers the most affordable term for the loan. They should also see if the company is authorized by the Financial Conduct Authority or FCA. This would assure that the customer is safe from borrowing money. Customer should also make sure that they understand the terms given by the lending companies. Late or non-payment of loan may result to more financial trouble. Lawsuit can also be filed for non-payment.

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