Bad credit payday loans are unsecured loans in which no collateral is required. It has a high interest rate but can be availed easily. They are open for all sort of bad credit holders. Here the loan amount is small and repayment duration is also of short term. : http://ezinearticles.com/?Bad-Credit-Payday-Loan-An-End-To-Mid-Term-Crises&id=952207