Bad Credit Payroll Loan Lending Process and Procedures

What is a bad credit payroll loan? It is a payday loan for people with bad credit. Mypaydayloan does not discriminate based on credit score. We actually don’t even check your credit report which is why we can offer this bad credit payday loan. We don’t run credit checks on bad credit payroll loan applicants because we figure if you are in a situation where you need a payroll loan, you probably don’t have the best credit. This is not the case across the board, but a lot of people turn to companies like Mypaydayloan because they have bad credit and can’t get a loan anywhere else, hence the appeal.

The cost of a easy payday loan is pretty standard, and is completely independent of your credit score. We charge a $25 finance fee for every $100 that you borrow, so if you borrow a $400 loan you will have to pay back $100 in finance fees in addition to the $400 loan principal. If you are a new customer and have not taken out any money from Mypaydayloan in the past, you will qualify for a free payroll loan. A payday loan online is one that does not have finance fees. Mypaydayloan will waive the finance fees on your bad credit payroll loan when you pay it off in full.  In order to qualify for the free loan you must simply be a first time customer.  Mypaydayloan’s sophisticated system knows that you’re a new customer and will automatically waive the initial set of finance fees as soon as you submit your payment request to pay out in full.  If you decide to extend your loan you will be responsible for the finance fees but we will still waive the initial fee once paid out in full.