Different things happen and sometimes circumstances don’t really depend on us. There is a great number of people who took a loan once but then had certain problems with paying it back and we cannot judge or critisize such people – any of us can face such a situation.
There is a stereotype stating that if you fail to pay a loan back and spoil your credit history there is no chance to get a new loan in future including instant payday loans. But don’t worry! There is always a way out!
Check your history firstly
Let’s say you was told by your bank or by other financial institutions that you credit ranking is very low now. Actually, it is still possible to make it better! Just check all your current debts, late and forgotten payments etc. For that purpose you may use such services like Clearscore, Creditcarma and many more.
It may happen that your score is not that low. However, if you clearly see that banks will definitely reject your application – don’t waste time and raise your credit score. The quickest way to do it is to…
Pay what is unpaid
Unpaid debts make your credit history absolutely horrible. Even a small debt makes impossible to borrow money from a reputable bank, so it’s surely worth trying to negotiate with the financial institutions you have outstanding payments to.
Believe us, these people are also interested in settling the issues with your account. So it’s absolutely normal to call and to ask what you can do about that. Typically they offer you to pay the debt and the delinquency fee. After receiving money banks can remove bad record from your credit history.
It will take some time, though. Credit history cannot be modified or updated immediately. Please be ready for at least few months of waiting. Sometimes it takes even more. Unfortunately, there is no faster way of improving one’s credit score.
Borrow regardless of credit score
Due to growing number of non-bank credit companies it is now possible to borrow money regardless of one’s credit history. It’s a risky business and risk is the main reason why interest rates of instant cash loans are so high. Anyway, people who borrow and spend smartly can benefit from instant loans a lot.
You do not have to waste time on bureaucracy and other stupid things – you come, show your ID and get the money in 5 minutes. If you take a short-term loan and pay back on time you won’t lose much money, check yourself. Just make sure you borrow from a company that has good reputation among people and works for at least a year.