Payday loans are among the most expensive loans available. In 2011 the Federal Trade Commission pointed to an example of a typical payday loan with a whopping 391 percent interest rate. Payday loans typically do not require a credit check because of the exorbitant interest rates. People willing to pay the huge interest rates usually have poor credit scores and are not eligible for standard loans from banks and credit unions. Payday loans, although controversial, are widely available.
Find payday loans that do not require a credit check by visiting stand-alone check cashing stores. The stores are usually located in strip malls. They also advertise on radio or TV. Enter the check cashing store and ask about payday loans without a credit check.
Check with banks and credit unions. Some may offer so-called "checking account advances" to established customers with active checking accounts and regular direct deposits. The checking account advances are somewhat similar to an overdraft, with repayment of the loan made through the next direct deposit of a paycheck or some other regular deposit.
Investigate any online service. Make sure that you check the business out with the local Better Business Bureau or look for complaints online or lodged with your state's department of consumer affairs.
Contact a credit counselor certified by the U.S. Department of Housing and Urban Development. The counselors specialize in housing related issues as well as credit problems unrelated to housing. Counselors likely will try talking you out of a payday loan and may suggest alternatives to your financial problems. However, the Federal Trade Commission acknowledges that some people are forced into payday loans because of their situation and that if you do take a payday loan you should borrow only as much as you can afford to pay back on your next payday. Tell the counselor that is your plan as you ask for help finding a payday loan locally that does not require a credit check. Find a government-approved credit counselor in your area by checking the HUD website.