Second Chance Payday Loans for Borrowers With Bad Credit

Written By Mason Roberts

Published on May 17, 2021

Looking for second chance payday loans in SC doesn’t mean you are bad with money. Situations, where people encounter some bad luck or even suffer a major setback due to unexpected circumstances, happen all the time. That is why knowing how to find the money you need for a financial emergency is essential to protecting your finances and lifestyle. In our guide below learn on what you need to know for eligiblity for a payday loan such as, needing money urgently and someone who gets a regular paycheck. Additionally, dicover how to use the funds you receive to tackle bills that are due first, paying off the biggest debts, and unexpected expenses.

What Are Second Chance Payday Loans?

Second chance payday loans are a type of secured line of credit that uses your upcoming paycheck as collateral to give you a lump sum of quick cash. This means that they aren't based on your credit score and can be requested easily through a rapid application and approval process. In Carolina, for example, borrowers can get as much as $550 if they qualify.

Who Is Eligible for Second Chance Payday Loans?

Contrary to popular belief, getting a loan from a traditional bank isn't always the best way to go. In fact, payday loans in SC are available to just about everyone over the age of 18 who can show proof of income. That's true even if the applicant has less than perfect credit. You can benefit from payday loans if you are:

1. Someone Who Needs Money Urgently

The entire process could take less than an hour to complete, and the average application only takes a few minutes to submit. So, if you are tight on time and need to get some cash quickly, this may be a good option for you.

2. Someone Who Gets A Regular Paycheck

If you earn money each week but you hit some roadblock and you need money urgently, you may find yourself in a position where your payday has not come around just yet. But when bills are due and you need to do something about them, getting a payday loan can be a smart solution to avoid paying late fees.

How to Make Good Use of Second Chance Payday Loans

There are many ways to use the money from your second chance payday loans. It all just depends on what debts are causing you the most trouble. So, make a budget to track your spending and determine how that compares to your weekly, bi-weekly, or monthly income. Then, use the cash you get from your loan to take a step ahead in your finances.

This is how you do it.

person working on their budget looking to pay urgent bills first with payday loan cash

1. Pay Off The Bills That Are Due First

Use the money you get from your second chance payday loans and spend it on the most important and urgent bills. If you've already made a budget and tracked due dates, determining which bills should get paid will be much easier.

2. Take Care of Your Biggest Debts

Next, focus on the debts that eat away at your paycheck each week. Try to pay those debts off as much as you can, so you can later keep more money in your pocket.

TIP: you may not achieve this right away, but keep at it week after another until you reach your goal.

3. Manage Unexpected Expenses ASAP

Don't let the unexpected ruin all of your hard work or drop your credit score lower. Instead, spend the cash you make on things that got in your way. Then, build up an emergency fund from your income to take care of any sudden expenses in the future.

At the end of the day keep in mind that getting the payday loans South Carolina offers can be easy, but you need to use them carefully and have a plan in place. You should also choose a lender with a good reputation in the community and a fast, easy application process. Check out Carolina Payday Loans, Inc.

How Can I Get Payday Loans Near Me?

Getting the fast cash that you need isn't as hard as you think, nor is it as difficult as going through a traditional bank. Lenders like Carolina Payday Loans, Inc. make it as quick and painless as possible, with only two simple steps to follow for a potential approval.

person counting payday loans cash in front of laptop

Step 1 - Apply Online or Over The Phone

Go to the Carolina Payday Loans, Inc. homepage to fill out the short intake application. Then, an agent will review the information and contact you within 30 minutes or less. If you're preliminarily approved, the agent will then set up a time for you to come in and complete the process. In most cases, the entire process can be done on the same day.

Step 2 - Provide The Required Information

When the meeting with your agent commences, this is what they'll want to see:

Your most recent pay stub from work.
Your driver's license or a government-issued photo ID.
A blank check from an active checking account in your name.

Be sure to ask your agent any questions you may have. If you meet the qualifications, you can expect money to be directly deposited into your account within 24 hours.

Payday Loans Can Help You Out

Getting your second chance payday loans doesn’t have to be complicated. You can apply for a payday loan in South Carolina and get your cash on the very same day if you qualify. Don’t let any time go to waste and start your online payday loans process now.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.