A bad credit payday loan is the first resource for many cash-strapped people who've had shaky credit histories or just bad luck. Because cash advances are made with bankable collateral (your next paycheck), their issuers are wholly unconcerned with your past misfortune. They're not likely to be gung-ho about an obvious credit risk, but if you've proven you can hold down a steady job and set up a direct deposit account through your employer, you're a strong candidate for same day fast money loans.

Your credit may be shot for any number of reasons. Perhaps you were forced to work at a young age in order to help your parents make ends meet. They may have relied on your earning power so much that it jeopardized your own credit-worthiness. More likely, however, you were simply reckless with your purchases, plowing money into material goods that made sense at the time but in hindsight were simply foolish expenditures. Either way, the credit industry is sympathetic and more than happy to issue you additional loans.

In the credit game, each successful (timely and full) payment is a chit in your favor. Each delinquency (late or partial payment) is a chit against you. This acquisition of merits and demerits is like the accrual of good and bad karma--get enough to swing you in either direction, and you're bound to reap the benefits or pay the price. That's one of the great things about pay day  loans; if you've ruined your credit elsewhere, you can slowly begin to restore your tarnished financial image.

Maybe a small pay day loan repayment is a small victory in the grand scheme of things. But each time you make one, you increase the odds that some other financial institution will trust you with its money. You may not qualify for a home mortgage within a few months (or even years), but stepping up to regular computer or car payments is movement in the right direction, a fringe benefit of repaying such loans that most folks never even consider.