Written by author Luis Diaz Morales

Payday Loans No Employment Verification No Credit Check

No bank verification payday loans or, in other words, direct payday loans are the cash loans that are provided directly to the borrower by the direct lender, without any brokers or other intermediaries, most of the main credit bureaus are using this model. Usually, using direct lenders may significantly lower the rates of cash advance loans which is always good for the customers, also by excluding a middle man, you can lower the risks of data breaches.

Another advantage of direct payday loan lenders is the fact that in most of the states, they do not check the credit history and credit scores of the borrowers, which means that even people with very poor credit history may apply for the loan and to receive it with high probability, because everything that a person needs to have is an active bank account, be older than 18 and have a full-time job. 

Moreover, it is possible to get installment loans and title loans at a payday loans direct lender, even with a bad credit score.

Do I need to verify my employment?

Sometimes it is even possible to get a short-term loan without employment verification. However, in this case, the fees and the interest rate would be significantly higher.

Also, when speaking about direct payday lenders, we should not forget that the absence of a middle man significantly increases the speed with which a payday loan direct lender could consider your loan request, and in some cases, the lending process can be ended in less than one business day.

No direct verification loans can be a good choice for people who have sudden financial needs. However, they definitely cannot be considered as a long-term financial solution. If you have a poor credit score, a direct, quick cash loan can save you in hard times. But you have to be extremely careful with these types of loans.

What to consider while applying

Firstly, when applying for such a loan, you have to make sure that there are no hidden fees that can affect your loan payments. Also, you have to carefully check the loan agreement and see whether all the conditions are the same as you have agreed upon. Furthermore, it would be wise to check the payday lender through google and to read the reviews.  

However, the main problem with such loans is the fact that frequently in order to make timely payments on previous outstanding loans, a person has to take a  new one and end up in the so-called loan circle.

1. Vermont Assists Federal Agency To Stop Payday Loan Debt
   https://ago.vermont.gov/blog/2017/10/20/vermont-assists-federal-agency-to-stop-payday-loan-debt-traps/
2. Productivity Investment Fund
   http://qpc.lacounty.gov/Commission-Programs/Productivity-Investment-Fund
3. Keep an eye out for student loan scams NC DOJ
   https://ncdoj.gov/keep-an-eye-out-for-student-loan-scams/