At these days there are not so many companies which provide small personal loans to people with bad credit history, and which is why the services of payday lenders have become a great solution for many consumers. To qualify for bad credit payday loans, you only need to have a monthly income of 1,000 USD and an active bank account. Other than that, you are not required to have an excellent credit history, and in most cases payday lenders will not even ask you to fax your bank statements or credit records.

Payday loans are considered to be an ideal solution for such temporary financial difficulties as unpaid utility or repair bills. However, you should keep in mind that the interest rates charged by payday lenders are rather high, and regarding the fact that the amount of money you can borrow from them is usually limited to no more than 1,500 USD, it is unreasonably to borrow payday loans for serious financial difficulties.

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