Nowadays, in United States, there are hundreds of quick loan providers in the market. I would say that it is not hard for a person to obtain a no-credit-check personal loan from these private lenders.
In order to access to quick cash, a person needs to fulfill the following conditions:
- must be over 18 years old
- must be a US citizen
- must have a steady job
During the loan application process, there is no credit file required. No matter how bad a person’s credit history is, he or she can still be entitled for the loan. The only difference among individuals is the loan amount.
For those people who have low monthly income, say $800 per month, the lenders normally offer the borrowers quick cash up to $1500. If you need to apply for this type of loan with the minimum amount of $7000, you need to have a monthly income of at least $3000. If your monthly income is more than $3000, you are able to obtain approval within a very short period of time. From the lenders’ point of view, you have the financial ability to repay the loan.
However, what if your monthly salary is less than $3000 and you really need $7000 cash for emergency case? Is there any possibility for you to get the loan?
It is still possible for you to get the loan. You may try 2 methods below:
Method No. 1: Get a co-signer with good credit
Since your current salary is not high enough to enable you to obtain $7000 loan, you need to get the assistance from either your family member or close friend to be your co-signer. In order to obtain the loan successfully, the co-signer must have good credit score.
Method No. 2: Apply loan from 2-3 lenders at the same time
If nobody is willing to be your co-signer, you have to go for another alternative. Apply quick loan from different lenders at the same time. For instance, you are entitled for $2500 loan from one lender. Since you need $7000 loan, you are advised to apply for loan from 3 different lenders so that you can get the loan amount you need.
By using either one method above, you are able to obtain the loan amount you need successfully. However, you need to bear in mind that you must pay back the loan accordingly. Do you have the ability to repay it with your current salary? If you jointly apply the loan with a co-signer, will you cause trouble to your co-signer?
If you fail to repay your loan, your co-signer will be liable to repay the outstanding balances. The credit score of your co-signer will be badly affected too. On the other hand, if you apply loan from multiple lenders, can you repay the loans at the same time? If you fail to do so, again, your credit score will be getting worse. Hence, you need to keep in mind all the possible consequences before taking action. Don’t place yourself at risk.