Whenever it comes to sites that advertise their services as payday loans for bad credit or very bad credit payday loans you are being misled a bit. This is because payday loan places dont bother checking anybodys credit rating before they give you a loan.
The point is that the payday loan company sees you coming. They know you have to take out a loan from your paycheck because you are behind on your existing debts or because you just need the money to survive. From the point of view of the payday loan company all individuals, regardless of their credit rating, are considered high risk simply because they are asking.
The assumption is that if you are already going to a website that advertises itself as very bad credit payday loans then you already have bad credit in the first place. Why else would you be getting a payday loan? If you had any available credit wouldnt you use that instead to get yourself through until your next paycheck comes?
They dont need to check your credit rating to offer you a better rate of interest as offering you the highest interest rate possible is to the companys advantage. Why would they bother when under the circumstances they can offer you a sub prime rate of 30% or more to make a handsome profit?
On top of these very high interest rates the payday loan company will also charge you quite high fees for doing any business with them at all. The worst thing you can do is be late with your payment. The voided check that you provide them during this deal gives them permission to take out as much money as they want out of their account if you break your promise to pay by payday to them.