How Payday Loans Work Even For Those With Poor Credit
Most of the traditional loans offered by banks and credit unions are likely to turn you down if you have a bad credit score. As a result, trying to get a loan when you have bad credit requires you to know the options that work for you. One of these options is Tennessee payday loans.
In this article, we aim to explain how payday loans work for those with poor credit and show you the process you could follow to acquire one.
How Payday Loans Work For People With Bad Credit
The good news about payday loans is that your credit score isn’t much of a factor for this loan type. In fact, how payday loans work for those with poor credit is practically identical to how payday loans work for those with good credit.
What this means is that you don’t have a lot to stress about if you want a payday loan but have bad credit! Since your credit score isn’t a major factor when qualifying for a payday loan, you can still qualify for one regardless of what your credit score is.
Can I Qualify For Payday Loans If I Have Bad Credit?
If you have bad credit, you are still welcome to request a payday loan and you will have a chance to qualify. At Tennessee Title Loans, Inc., all credit types are welcome. This means that you can request one of our payday loans even if you have bad credit.
How Do Payday Loans Work Around Credit Requirements?
You might be a bit confused as to why you can still qualify for payday loans in Tennessee even if you have bad credit. That’s because, unlike other loan types, your credit score isn’t much of a factor when it comes to evaluating whether you qualify for a payday loan.
Instead, Tennessee Title Loans, Inc. evaluates other requirements to determine if you qualify for that loan type. It is your proof of employment or income that is used to determine if you can get a payday loan, even if you have bad credit.
So, you can qualify for a payday loan in Tennessee regardless of your credit type, if you meet the requirements. Because of the nature of payday loans, their requirements almost always circle around employment or proof of income, not your credit score.
What Are The Requirements For Payday Loans?
If your credit score isn’t used to determine whether or not you qualify for a payday loan, what is? Here at Tennessee Title Loans, Inc., four documents are required in order to qualify for a payday loan: a government-issued photo ID, your most recent bank statement, your most recent pay stub, and a blank check from an active checking account in your name.
If you have these four items, you have a chance to qualify for a payday loan regardless of your credit score. That’s because these four items prove that you have a source of income and can pay back the loan by your next paycheck.
Where Can I Get A Payday Loan?
At this point, you might be thinking that a payday loan is an option for you, regardless of your credit score. If that sounds like you, you can actually start your process from the comfort of your home.
We at Tennessee Title Loans, Inc. have a variety of locations to choose from. From Johnson City to Nashville to Memphis, we have Tennessee Title Loans, Inc. storefronts all across the state. Our process is pretty straightforward. Here are the steps of qualifying for a payday loan at one of our locations, even if you have bad credit:
- Fill out and submit the online payday loan form to get started.
- Wait for a loan representative from our nearest location to give you a call and set up an appointment.
- Bring all of your required items to your appointment and sit down with the loan representative so that they can review your documents and determine if you qualify.
- If approved, you can finalize the application process with their help.
- You will then get the money you need on the same day or the following business day.
In fact, the in-person process at Tennessee Title Loans, Inc. is so fast that you can potentially get it done in as little as 30 minutes!
Get Your Payday Loan Today!
Now that you understand how payday loans work for those with poor credit, you see how this loan type is virtually identical for those with good credit and those with bad credit. Since payday loans are dependent on your proof of income, your credit score is not that big of a factor.
If you’ve decided to acquire a payday loan, get started at Tennessee Title Loans, Inc by simply filling out our quick inquiry form. We will call you shortly and guide you through the rest of the process.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.