Sigma Solutions INC Payday Loan

www.sigmasolutionsloans.com/

A payday loan is the easiest unsecured personal loan for someone with a bad credit score to get. The easiest secured loan someone with a bad credit score can get is likely a pawnshop loan. That’s because neither of these loans requires a credit check.

A payday loan is a quick loan with a short repayment term that must be repaid within one week to as many as 60 days. All you must do to get the loan is provide proof of income and that you have a bank account from which the lender can automatically withdraw repayment.

The terms of payday loans vary by state. These loans are illegal in some states due to the predatory nature of payday lending.

Some states charge upward of 700% interest for a small loan that needs to be repaid with the borrower’s next paycheck. This tends to put borrowers in a cycle of debt because many of them already live paycheck to paycheck, which means they can’t afford to lose a couple of hundred dollars from their next one.