\ Leading Bad Credit Loans - FAQs

Bad Credit Loans FAQ

Q: My credit score is 652, am I considered to have "bad credit"?
A: Actually, your credit score is in the "fair credit" range. Any score of 620 or lower is considered bad credit.

Q: What types of loans or services does Leading Payday Loans offer to people with bad credit?
A: Several loan types are available, including bad credit car loans, payday loans, personal loans for bad credit, as well as, a variety of debt relief services.

Q: I am worried about applying for a loan online, can I apply over the phone?
A: Due to security and privacy laws, we are unable to accept phone applications at this time.

Q: I need a bad credit auto loan, and have already found the vehicle I wish to buy from an individual. Can you provide financing in this situation?
A: We are not able to offer financing for private auto sales transactions.

Q: How does having bad credit affect the loan that I am approved for?
A: Having bad credit means that at some point in the past, you have had trouble taking care of your financial obligations. Many times, this happens to good people who just were not able to make timely payments for one reason or another. Bad credit lenders realize this and wish to help people get back on track. Lenders offer a variety of special finance programs that will have a higher rate of interest than you might get if your credit is excellent. There might also be special terms attached to the loan. Be sure to discuss this with the lender.

Q: I need a car but my credit is terrible, will I need a co-signor? If so, what are the requirement for the co-signer?
A: You might not need a co-signer, as special finance auto lenders offer car loans with no co-signer and little or no money down. Of course, every situation is different, so if you are asked to have a co-signer, he or she must generally have good credit and a solid income.

Q: Will my employer be notified that I am applying for a payday loan?
A: No, as long as you can provide proof of income, such as a current paystub, there is no need to contact your employer.

Q: What is the largest amount that I can get with a cash advance?
A: Every state has laws regarding payday lending so the amount that you can receive depends upon which state you live in. For example, in Michigan the maximum is $600, however, in Idaho, a person can get approved for a cash advance for amounts up to $1,000. Typically, cash loans range between $100 and $1,500.

Q: Is your website secure? How do I know that?
A: Absolutely, we go to every extent to make sure that your personal information is transferred to our lenders in the most secure manner. When you go to the loan application, you will notice in your address bar that the url begins with "https", this means that the information that you submit is encrypted, thus adding an extra layer of security.

Q: Is there a charge for applying for a loan on your website?
A: No, applying is free. We will never ask for any type of payment.

Q: I need money quickly and do not wish to provide credit information, what type of loan will be best for me?
A: In your case, it might be best to apply for a payday loan, you will receive quick cash with no credit checks as long as you meet all of the basic requirements.

Q: What are the interest rates on bad credit personal loans?
A: Like the payday loan amounts, the interest rates for personal loans for people with bad credit vary and depend upon the state in which you reside.

Q: What happens if I am unable to repay a payday advance when it is due?
A: If circumstances put you in this sticky situation, you will first need to contact the payday loan lender immediately. They are generally very flexible and will be willing to extend the loan. Defaulting on a payday loan is very serious and you face unpleasant consequences...don't do this.