Date Added: December 13, 2012 09:07:54 PM

People often question whether no credit check 3 month loans actually exist.  Over the past 5-10 years there has been a sharp rise in online payday loan offering no credit check payday loans. Some people question the credibility of  these organisations manly because they are not used to seeing loans that do not require a credit check.

Due to the development of the internet and the ease of online transaction its allowing these payday loan companies to provide a quick, easy and credit check free service. Organisations providing these no credit check payday loans usually use an individuals monthly or yearly earnings to act as the security of the loan. Usually you will able to borrow anywhere between £100 and £1000 by only presenting your monthly or yearly earnings. The interest you payback on this is dependant on the amount you borrowed and your monthly earnings plus other factor subject to the lender.

These no credit check 3 month loans are great if you are looking for a quick hassle free loan to easy your cash flow problems. The process is not like the traditional loans instead they work on the notion of providing quick cash loans through a simple application form, usually completed online through there website. It is important to note that the organisations offering these no credit check payday loans will only loan you money if you are over the legal UK age of 18 and you have a savings account where the funds can be transferred to. You are also require to have a secure monthly income from a registered organisation.

You should always look around for a reputable no credit payday loan provider and be sure to read there terms and conditions to ensure you know the legal obligations your are agreeing to. It may seem quick and easy but always remember the amount you have to pay back will be more than the amount borrowed. It is also important to remember that if you default on your payment you will be subject to additional fees set by lender. In some cases you maybe able to extend your payback period however this usually comes with an extra fee.

It is also vital that you read the exact terms and conditions for the specific loan you are taking out, as many lenders provide different documents for each type of loan, for example the terms for a 24 month loan will differ to that of an instant payday loan (30 days) so just because you have used one of the services before doesn't mean they all act in the same manner.