$1000 Bad Credit Payday Loan in Kansas City, MO

The applicant has a very bad credit rating, lives in Kansas City, Missouri and wants to get approved for a bad credit loan. Actually, he wants a payday loan for $1000, and he wants it “yesterday”. He wants the loan today, so basically he wants a cash advance that can be approved and funded quickly.

There are plenty of payday loan stores in Kansas City, and the nearby cities have many cash advance shops too. Such as Topeka or St. Joseph for example. There is the online method of getting approved for a payday loan as well. Clients can fill in an application online and send in all required information to the lender.

If you are living in Kansas City and want a payday loan locally, you can also go down to Walnut Street and East 12th Street if you prefer a face to face application rather than an online application.

I’ll never understand why some people let their finances slip so badly, and for so long, before they take some kind of action to get their finances under control, and they are stuck getting a payday loan, which is way too expensive compared to normal personal loans for people with good credit ratings.

For some people it is simply ignoring the problem and hoping it will go away. For others they find themselves in this position because they do not pay attention to their cash flow and find that they need to pay bills and simply do not have the money to do so. Whatever the reason, there really is no excuse for getting into this situation if you are paying attention to your bank balance and your monthly bills.

Bad credit ratings can be assigned for a number of reasons. Basically clients will find that their credit rating has declined for one of several reasons or sometimes all of the following reasons. For example if you forget to pay your utility bills or perhaps a loan, these people or companies that you owe money to may file a report that you failed to make a payment. If you decide not to pay the monthly payment because you do not have the money, and do not initiate a conversation with the companies in question they are going to file this report and your credit rating is going to descend quickly.

Many credit card companies advertise their products very aggressively.  They sometimes will offer free interest rates for amounts transferred from other accounts and low interest rates for a set period to obtain your business. If you decide to take them up on this offer, you will be adding a credit card to your debt list and your possible total debt load. The more credit cards you have the lower your credit rating may descend.

Lenders who are assessing an applicant’s loan application will also look at their income, how long they have been on the job and whether they have a bank account. The income level establishes the ability of the borrower to pay back the loan. If they have been on the job for some time, they will have more creditability as being a creditable person who can hold a job. Other debts and the total monthly payments are another factor that is taken into account.

Finally there is the bank account. Bank accounts are needed to electronically transfer the loan into for the customer and to also withdraw the agreed to payments from. Everything is done electronically these days and this process also provides a record of all transactions. If it is not shown on the bank statement, the transfers never happened. Lenders also like to look at the past several month’s statements to confirm that there are no payments that were denied due to insufficient funds. This is another indicator to lenders of a client’s credit worthiness and their attention to details such as maintaining the proper amount in their accounts.