Are There Any No Credit Check Payday Loans?
There is a significant demand for no credit check payday loans online across the UK. For those with past credit problems, it can be difficult to get the green light with lenders, especially when there are defaults and perhaps CCJs on their file. Whether these have been paid off and marked as “Settled”, they will stick around on files for 6 years and some lenders when running checks are likely to decline those with such markings. Both Access Fast Money and Payday Overdraft for many years claimed to offer no credit check payday loans online. There was always some debate whether these headlines were made to simply drive up their leads.
Both of these do now clearly state that they conduct checks. WageDayAdvance also claimed for a long time that whilst they run searches they did this for verification and that the merit of the application counted. This again may have been employed to drive up business. They don’t appear to be any more lenient than other established firms. Every other known loan provider in this sector runs searches. It can be difficult to determine the difference between a broker and a lender. Brokers have historically pushed the boundaries with headlines to collect leads. Whilst they may not run a search themselves, once your application has been fed to the lender they will do this.
The truth is that direct no credit check payday loans online don’t exist. There are some Alternative Solutions worth considering though. Several logbook lenders are known to not run any applicant searches. Some examples would include CarCashPoint, LoanMyMotor and V5 Solutions. The reason why logbook firms don’t need to do this is that they secure the loan against your logbook (V5C). Due to this they can legally visit and take away your vehicle if you are unable to pay the debt. Monthly lenders have to be more thorough since they have limited powers and most of them just end up selling on defaulted accounts to debt collection agencies.
It should be added that logbook companies usually ask to see bank statements and you must be able to demonstrate that you can afford to go ahead with the contract. If you can find a backing then a guarantor loan would also be recommended. They only search to verify that you aren’t currently bankrupt or on an IVA. CCJs and defaults are not an issue so long as you are in a good state, with the backing helping to secure the chance of acceptance. The doorstep lender (Provident) promotes that CCJs and defaults are considered and so they may be worth considering if you are concerned with the state of your profile score.
If you just need some cash until you next get paid then you may also wish to think about taking out a pawnbroker loan. All you need to do there is show up with identification and you can secure funds against your goods. Cash Converters and Cash Generator also have Buy Back schemes. If you have a laptop or mobile phone that you can do without for the short term, then these would be worth taking in to see you through the month. You may wish to try and receive a boost on your overdraft (just ask for a small increase). You could also ask family and and then try and work at improving your score moving forward.