New U.S. lenders now exist to provide a variety of long term unsecured loans for people who have problems getting credit from conventional lending places. A simple search online will yield many advertisements for services like payday or installment loans online with monthly payments.
Even when you have bad credit, chances are you still get one or two offers. If you are willing to put down collateral, your likelihood of securing a big long term loan will be doubled. It is that easier to appear welcomed at major loan companies when you throw in some equity. However, more paperwork and waiting time are involved so it may take a few more days to process.
For some of us, running out of money between paychecks is a common affair. All it takes is some unexpected accident to occur, and we would be scurrying around to get some extra money. The usual reaction is to try borrow from a well off friend or family. Otherwise, you have to go to a nearby loan company and fill the paperwork quickly.
When you are desperately searching for a solution, ask yourself if the current situation really justify the financing costs and whether you will have problems repaying. There is no point kicking the can down the road, you may end up with a bigger debt. Personal loan companies are not cheap so if you are not completely convinced you can pay back in full and on time, it is probably better to seek other methods instead of relying on a small cash advance to pay late bills.
I have many friends who have tried payday loan websites in order to pay for miscellaneous expenses such as credit card or utilities bills, gifts, etc. In fact, it does not matter to other people why you need the cash. To the lenders, they want to see that you have a stable and sufficiently high income to pay them back, and your credit ratings show that you are not a irresponsible borrower. You should be able to get a $1000 high risk loans fairly quickly, even if you have average or borderline credit.
The 60% DTI ratio is a very good rule of thumb to decide if you can afford a high interest personal loan. This accounts for left over cash from your paycheck after any existing mortgage or car loan obligations etc. This may sound tough if you are not earning much but it is a good safety gauge to avoid being trapped by accruing financing fees. You have to tighten your spending or take up a second job in the evenings or weekends for the $$$.
Feel free to compare different lending websites to find who are the better providers. Be careful about illegal lenders even if they seem cheaper. Always insist on a trusted party on the internet so that your consumer rights are protected. We work with well established and legit U.S. loan companies who may be interested to offer you a $3000 payday loan even when banks declined you recently.