You may be a young person who hasn’t had a chance to build a credit history or someone who simply has a less than perfect record with the CRA. Neither situation can prevent a monetary emergency, but they shouldn’t prevent you from getting the help you need either.
Now Loan provides short payday loan no bank account Barberton OH term loans for people with bad credit. Our panel of lenders know that your credit score is not the whole story. When you file an application with us, we collect all the relevant data necessary for potential creditors to formulate a fair, realistic picture of your creditworthiness.
That doesn’t mean that every lender will make you an offer. However, those that do will already be aware of your circumstances and be prepared to work with you.
Keep in mind that poor credit history will have an impact on any terms you are offered. It is likely that your interest rates will be on the higher end of what is allowed, and the money you can request ount. You should review the terms carefully, and be honest with yourself about your ability to adhere to the contract.
The key here is not to let your bad credit deter you from trying. Applying for a short-term loan with NowLoan takes only minutes, and involves no cost or risk to you, regardless of how good or bad your credit may be.
How Safe Are Short-Term Loans?
It’s not uncommon to feel anxious or overwhelmed when borrowing money at the best of times. There are bad actors masquerading as reputable brokers and lenders, who are willing to offer you deals that seem too good to be true. When faced with the stress of an unexpected disaster, it can be hard to identify a scam.
When you deal with Now Loan, you can breathe easy. Our short-term loans are completely safe, legitimate, and they function well within the bounds of FCA regulations. As an FCA authorised broker, we are as concerned with the safety of your transaction and data as the regulatory body itself.
For example, to safeguard your financial stability, there are limits placed on how high short-term loan interest can be. The FCA implemented this cap in 2015, setting the maximum possible cost for the daily interest rate and fees at 0.8% per day. Moreover, your repayment amount can’t exceed 100% of your initial loan amount.
Worried about your personal data falling into the wrong hands during the application process? Don’t be. We’ve taken every precaution, implementing cyber security measures such as SSL site encryption so no third party can access your communications with us. Moreover, we don’t sell your contact information or data to anyone.
Now Loan is a trustworthy broker with whom you can feel safe doing business. If our offerings seem too good to be true, that is a testament to our commitment to provide you with the best options available.
Extending a Short-Term Loan
For many borrowers, the most troublesome part of a short-term loan is the short repayment period. Not everyone qualifies for the maximum time allowable, and, even for those that do, sometimes it’s simply not possible to pay the money back on time.
When you anticipate having trouble meeting your repayment deadline, you should contact the lender to discuss your options. Don’t wait until the payment has been missed, as that will trigger fees and damage your credit history.
A lender’s options to help you in this situation are to grant you an extension or to roll your loan over into a new loan contract. An extension is just what it sounds like: you negotiate for additional time to pay the loan back. Of course, this also means the interest will continue to accrue, increasing the amount you ultimately pay.