Using The Internet To Secure Finance
If you are looking for a bad credit 1000 loan, then you don’t even need to get off your couch to find it (assuming you own a laptop). I recently did some work for a company that offers what they call a loan matching service, with the main goal to provide their customers with the cash they need, as soon as they need it, without having to leave their own homes.
I kind of thought this was a unique concept, and had a fun time developing their website (or at least consulting on part of it, they are still working on the other part). I also learned a few things about payday loans that I didn’t know before. I learned the following:
- The costs are very high (I already knew that), but they actually aren’t as high as some other short-term funding situations. Late fees of credit cards, utility bills, and bounced checks all cost more on an absolute dollar amount. The difference is that banks aren’t required to put those costs in terms of APR (something that drove my client nuts).
- Anyone can qualify, even if they have very bad credit. Yes, you will need to show proof of income, have a checking account, and be able to pay the loan back, but the lender won’t care if you have a very bad credit score – kind of nice for a lot of folks these days.
As you can tell, my eyes were opened up a little bit through this project, although I still wouldn’t recommend this type of financing unless you really are in a bind financially.