It is to be noted that short term payday loans are one of the most expensive loans presently available. Believe it or not, there was news about a 391% interest payday loan in year 2011 report by the Federal Trade Commission. Such huge interest rates are reasons why taking out unsecured payday loans for $1000 don’t require a high credit score. It is necessary that you resort to proper debt consolidation programs in case you fall under payday loan debts. People having poor credit scores generally go for such high interest payday loans as they are ineligible for the standard bank loans. Payday loans have always been associated with controversies, but are widely available nevertheless. The following are some tips that will help you find a non-payday loan without good FICO scores.
Visit check cashing stores – The stand-alone stores for check cashing purposes are the right places to start looking for non payday loan alternatives when you have poor credit. You can also find related ads on the radio and television.
Go to banks and credit unions – These are known to offer checking account advances especially to customers who have active checking accounts and have been making direct deposits regularly.
Look for online services – It is wise to carry out investigations on online services. Visit the local Better Business Bureau (BBB) to run a check on the business of accredited long term loan lenders. Be on the lookout for online complaints that might have been lodged with the Department of Consumer Affairs of State.
Get in touch with a credit counselor – It is advisable that you get in touch with a certified credit counselor from the U.S. Department of Housing and Urban Development. It may not be so wise to take out a high interest payday loan. The counselor will review your financial situation and will suggest alternative solutions to your financial problem. Well, if the situation calls for an unsecured signature loan, make sure you don’t take out a single penny beyond your affordability. Let the counselor know about your plan and ask him/her for help regarding non-payday loans without a good credit history. Visit the HUD website to have a government credit counselor work for you.