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Customers who have a low or bad credit score. whatever the reason, are perceived to be a higher risk to banks and finance houses many lenders are therefore simply unwilling or unable to take on this type of financial liability. These applicants having been rejected and left with fewer options. This where consideration may be given to a no credit check loan backed by a guarantor. Banks issue payday loans of this kind too as this is very profitable source of income in spite of risk involved here. Even if some clients are not able to pay back, then all the same the profits are high. USA / ACCESSWIRE / August 15th, 2014 / It is indeed a serious problem of the current economy that people accumulate more debt than they intend to and then get stuck resolving the mounting problems for an extended period. However, sites like worthyloans.com have come up with a handy solution of offering installment loans for bad credit customers. These people due to bad credit history are not seen as financially viable by other banks and lenders, though they also show a certain level of commitment towards having a more promising future. Banks and financial institutions nowadays are very strict about personal loans. This was brought about by the state of the countryâs economy, wherein many lost their jobs and had to apply for bankruptcy. On other hand there were financial institutions that arose from the ashes of this economic disaster and provided people with bad credit history with the necessary loans and funding.
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