Want Fast Cash Loans, No Credit Check? No Problem, Just Be Careful…

Want Fast Cash Loans, No Credit Check? No Problem, Just Be Careful…

Fast, Long Term Loans? No Credit Check?!? Count Me In!

So many people in the world today have messed up their credit ratings. When I was growing up as a boy in Melbourne, my parents told me over and over again to protect my credit rating with my life – never get a credit card, they said. Never borrow money without knowing exactly how you’re going to find the money to repay with, they said. All good advice – and it was all because they were concerned about my credit rating. Now when I want to get a loan I do my research and shop around to find the cheapest fast cash loans Melbourne has to offer, to save money on interest – and then I make absolutely certain I can make repayments, and take that very seriously. So far, so good.

To have a bad credit rating, it seemed to me as as a boy as I was listening to my parents, was worse than having a criminal record, or worse than having acid spashed on my face leaving hideous permanent scars. Would my life be ruined if I was unable to borrow money? Would girls not be attracted to me? Would I lose all my friends and become a social outcast like the Untouchables in India? No, but I might have trouble purchasing a house. I considered as a youth that I may not be able to hide a bad credit rating from my wife after I’m married, but she most likely wouldn’t check something like that before she marries me (and if she did, do I really want to marry someone who would?). So what is there to worry about?

In actual fact I am already married (no longer worrying about impressing potential mates) and I don’t have a bad credit rating eithe, so all these fears I had when I was young have gone. At thirty years old, things slip into context a little more with my adult understanding. The reason my credit rating is good is because I’ve never really borrowed money before. Admittedly, neither do I have the money I need to buy a house. But when the need arises to get a big loan such as a mortgage or something similar I will be happy that my credit rating is blank. It doesn’t mean much to me right now, but it will later on.

Nowadays it is absolutely possible to get fast long term loans, no credit check required. A credit check is when the lender will look at your credit history to find out whether or not you have been unable to pay your loans in the past. If you have failed in the past it is likely to have been because of your character, which means that if you did it once you are likely to do it again.

Its All Because Of Your Character. Probably.

They should make it obligatory for people with bad credit to do a year of military service. Making the bed all nice, folding your socks, and doing hundreds upon hundreds of pushups does a lot of good for a man’s character. Perhaps if everyone with a bad credit rating did military service, their character would improve and they would be more likely to repay their loans? Perhaps as they spend more and more time in the army, they could be rewarded with forgiving little points on their credit rating to show that they’ve done their time and they’re really not sao bad anymore. If they fold their socks and make their bed nicely, there may be a good chance that they will diligently make repayments on their loans also. I jest, but at the same time I make a good point. Pay your loans back.

Its In Your Best Interests To Repay. Really.

Old-fashioned ways of encouraging repayments that fortunately are not used anymore.

An old-fashioned way of encouraging repayments that is fortunately not used anymore.

The reason why lenders usually want to check your credit is to make sure that you can really pay the money back. But if the lender is powerful enough to force the borrower to repay by any means, they don’t have to worry about whether or not you’re able to repay or not. They have ways to make you pay. Thats why they are able to offer fast loans with no credit checks. In the old days they used to use baseball bats and various other solid objects to ensure repayments were done on time, nowadays things are a lot more civilised and legal. Using high interest rates that compound exponentially and the right to repossess one’s belongings, repayments can be extracted from even the poorest of borrowers without needing to cause physical harm.

Don’t worry, I’m only trying to scare you! It is important to realise what you are getting into before taking out a loan. Fast easy loans with no credit checks can be fun when so much money comes into your bank account so quickly and easily, but it is important to realise what you are getting into before you do it. A loan is a serious thing and you need to make sure you are able to repay before you commit yourself to such a loan. Unless you urgently need the money and cannot wait until you earn it yourself, it would be better to avoid the loan and wait until you earn the money yourself. Just because you have more cash in your bank account, it does not mean that you are richer. You will in fact be paying lots of money later on to have that cash now.

So if your credit rating is not damaged at all but you need fast loans, ‘no credit check’ is not a priority feature to worry yourself over. It would be better to have them check your credit, find that you are clean and then charge you less interest, rather than not check your credit and then assume that you are untrustworthy from the beginning. Fast cash loans with no credit check are more for those who have had bad experiences in the past, have been unable to repay their loans and are now unable to qualify for normal loans. If that is your case, be careful to make sure you really are able to repay a loan before you borrow, or you will spoil your credit rating further and put your finances in serious risk. So remember when you see “fast easy loans, no credit check”, it only means that it is easy to received the loan, it does not at all mean that it is easy to repay the loan. There is a key difference here.

Sometimes when I consider fast loans, no credit check -type loans that are super easy to get and hard to repay, I wonder what the opposite would be. Is it a loan that is super-difficult to get but not so hard to repay? How would the lenders advertise that, would they say “slow difficult loans with strict credit check”? I suppose you could just call them loans. Like, for example, bank loans for startup businesses. Not only do you need a good credit rating, but you need to write a very long business plan and speak a very impressive pitch about your business before they so much as lend you a dollar. What about angel investors? They do not offer fast cash loans, no credit checks either. However if you want an angel investor to invest in you, you need to radiate profit margins and shine with pixie dust before they so much as shake your hand. If you want the money quick, fast easy loans are right up your alley.

Jimmy & Liz: Bad Loan / Good Loan

Let me tell you the story about two very good friends in Brisbane called Jimmy and Liz (their real names are kept private). Jimmy was a nice young man who had many friends but did not know how to manage his money properly. Liz was a little bit antisocial, but her parents told her many times when she was young to be careful with her money and she listened to them. Jimmy and Liz both decided to go into business, and each started up a different company – though both Jimmy and Liz had already obtained a bad credit rating through failed businesses in the past. They both felt that this time their businesses would succeed!

So Jimmy got a big loan to cover his business expenses, one of those fast loans with no credit check and grew his business quickly, but Liz only spent money out of her revenues to build her business – she didn’t want to borrow yet just in case her business did not succeed. Jimmy’s business took off quickly and became very successful within a few months, while Liz had to bootleg her business for a while and make do with cheaper resources.

Things were going very well at first, but unfortunately the recession hit the local economy and both businesses took a loss in clientele and revenue. Jimmy had grown his business too fast and was unable to cover all his expenses, so he started making a loss – and at the same time, his money lenders decided that they wanted him to start making repayments on his loan. His business went bankrupt and he had to turn to his friends and family for loans in order to repay his business loan. His credit rating was already bad, and now it was worse, and he owed his friends and family large sums of money. In the world of fast loans, Brisbane was a great place to live until you found yourself unable to make repayments.

Liz’s business however survived the recession because her expenses were low and she had no debt, so her business slowly recovered. She wanted to help Jimmy and so decided to buy his business, because she felt that it was in fact a very good business if not for the bad circumstances. She couldn’t afford it at that time, but she knew that in one year her own business would make enough money to be able to repay for a loan, so she started looking around for the best fast cash loans Brisbane had available. She eventually found one, took out a fast cash loan no credit check necessary and bought Jimmy’s business and employed him to run the business for her. Eventually they fell in love and got married, both businesses were successful, and Jimmy was able to repay all the money he owed to his friends and family.

The moral of this story is not that one should not take out fast loans with no credit checks, because in the story Liz did take out such a loan in the end. The point is that a loan will cause trouble or bring success depending on whether or not you can repay it, so you must be certain that you will be able to repay it before you take out such a loan.

About the author

Jonathan Heart

Hello, I'm Jonathan Heart. I'm an accountant by day and a financial enthusiasts / investor by night who invests primarily in Australian real estate and blue chip shares. I live in Sydney and I thoroughly enjoy spending my spare time reading and writing about all things related to finance in Australia.

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