$255 Dollar Loans
When you apply for an online payday loan, you could qualify for up to $255 to cover medical bills, home repairs, or any other sudden expense, regardless of your credit score. The application process is quick, easy, and can be done from the comfort of your home with any mobile device. So, when you need cash and can't wait for a bank, look no further than a payday loan.
Payday loans are designed to help cover emergency bills while you are waiting for your next paycheck. They are usually small and manageable sums of money that can be paid back within a month. Best of all, they're offered without a hard credit check, meaning they won't show up on your credit report or affect your credit score.
What Happens If You Can't Repay the Loan?
Generally speaking, payday loans are written with a set-rate 14 or 31-day repayment plan. If you are unable to repay your loan by the due date, the lender may be willing to roll it over but this will trigger an interest fee. Depending on the loan, the interest rate could be as high as 30% of the total loan, adding a significant amount to your total debt.
For this reason, we don't recommend taking out a payday loan unless you're certain you can repay it in time. This type of financing is only meant to be a short-term solution for emergency expenses, not a long-term way to support your lifestyle.
How to Apply for a $255 Payday Loan Online?
Applying for an online payday loan couldn't be easier. Our lenders have streamlined the application process to make it 100% digital, meaning you can now apply from anywhere. Simply fill out a quick online application on your computer or mobile device and provide the following information:
- First and last name
- Phone number and email
- Details of your current employment and income status
- Copies of your last 2 paystubs or bank statements proving your income
- Banking details
After submitting your application, one of our lenders will review the information in just a few minutes and, if approved, your money will be deposited into your account by the end of the day or the next business day.
What Happens if You Can't Pay Your Car Bill?
If you miss a single car payment, you likely won't be sent to collections but it will directly affect your credit score. However, if you continue to miss payments, the lender or car dealership will send your information to a collection agency and place a lien on your title, preventing you from selling your vehicle or using it as collateral for a loan.
In a worst-case scenario, the car dealership or lending company may even repossess your vehicle to cover the cost of repayment. A repossession will greatly harm your credit score and stay on your report for at least seven years.
How to Get a $100 - $255 Loan?
After applying and qualifying for a $255 payday loan, you'll have the freedom to choose how much money you need. In some states, you can get more than $255. Simply fill out the online form at LendUP.com and provide the information listed above and we'll begin processing your request.
What Happens if You Are Short on Your Car Payment?
If you are only able to cover a portion of your monthly car payment, you do have options. It's best to contact the lender and explain your situation. They may be able to offer support in the following ways:
- Moving the due date – If you're struggling to make your payments every month, the lender may be able to move your due date to after you get paid. This way you'll be better able to budget for your payments.
- Setting up a payment plan – The lender may be willing to accept a partial payment according to a payment plan. You'll be expected to pay the rest by a set date or face steep interest rates.
- Ask for a deferral – If the lender is flexible, they may be able to defer your payment for the month but you'll be charged an interest fee as a courtesy.
Your credit score will most likely be affected in any of these cases. Any missed payments, deferrals, or refinancing will show up on your credit report and drop your score. Rather than risking your credit, we recommend that you seek out short-term financing with an online payday loan.
A payday loan may not show up on your credit report, allowing you to secure funding without it dropping your scores. You can then use the money to cover the rest of your car payment and pay back the loan once you get paid. We should note, though, that if you regularly struggle to make your car payment, you would be wiser to refinance the loan.
Payday loans are not a long-term solution and should not be used to cover your car payment from month to month.
Why Do Some Payday Loans Not Affect Your Credit Score?
Some direct lenders do not report to the major credit bureaus and, as such, this loan will not appear on your credit report or affect your credit score. This is one of the main reasons why $255 short-term loans are such a popular option for people with bad credit or no credit.
Rather than checking your credit report with a hard credit pull, some lenders simply verify your information using a soft credit pull. This type of credit check will not show up on your report and, instead, simply gives the lender an overview of who you are and your current credit.
Can You Get a Payday Loan Without a Bank Account?
It is barely possible to get a payday loan for people without a bank account. These loans are processed entirely online and deposited digitally into your account. This is done to help reduce the transaction fees that banks often charge non-account holders to cash checks. Additionally, your bank information helps the lenders to verify your identity and guarantee that you are who you say you are.
If you do not have a bank account, there are other loan services that may be available in your area. We recommend researching alternative options and seeking their assistance in your time of need.
Do You Have to Provide Collateral for a $255 Payday Loan?
Unlike title loans and other types of short-term financing, payday loans do not require collateral. The lenders, however, do require you to provide proof of employment and income. This information acts as a guarantee that you will be able to pay back the loan in a timely manner.