Payday Loans in Decatur, Alabama

Incidents happen, and we usually wind up in a place where we must cover some unexpected costs. Think about applying for a cash advance loan in Decatur, Alabama, to see if you meet the requirements.

The loan process is swift and effortless. To qualify, you must meet a couple of general conditions.

What is a Payday Loan? What Can It Pay For?

A cash advance loan is where the borrower will get a small amount of cash on a short-term basis. This is deemed to be an unsecured personal loan as no collateral is expected.

When surprise bills present themselves, such as late rent or utility bills, car repairs, health or vet fees, and so on, people often rely upon paycheck advance loans.

Payday Loan Criteria In Decatur, Alabama

In Decatur, Alabama, paycheck advance loan borrowers need to satisfy several criteria to qualify for a loan.

The borrower has to:

• Prove that they are a resident of Decatur, AL
• Must be at least 18
• Have a steady income that they can prove that's at least $1,000/month
• Provide active contact information like phone number and email address
• Give their SSN

If a borrower does not satisfy the above requirements, they will immediately be denied a payday advance loan. Ensure that you have the documentation required when submitting your application.

Laws and Rules Regarding Paycheck Advance Loans in Decatur, Alabama

Alabama has deemed payday lending legal. However, they have set the following rules and laws for the paycheck advance lending industry:

• An individual money lender can't extend a loan for more than $600. Borrowers cannot take out more than two unpaid loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not determined, the longest loan term length is 31 days. In Alabama, borrowers cannot rollover their loans.
• The fees and charges change for each loan lender. The service costs charged by lenders on a loan are not considered interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
• An interest rate must be mutually settled upon. APR can be as high as 369%.

Will Paycheck Advance Lenders in Decatur, AL, Complete Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we work with will complete a credit check on you, but, even if you have no credit or less than optimal credit, you might still be eligible for a loan given that you can prove that you can repay the loan. Lenders are typically unconcerned about your credit if you possess proof of income and a plan to repay the loan.

Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.

A hard credit pull, on the other hand, needs your explicit consent. These credit pulls are performed for various purposes, such as mortgages, credit card applications, and more.

You can still qualify for a paycheck advance loan with poor credit in Decatur, AL, as long as you have proof of repayment.

Therefore, when you apply for a loan, albeit in person or online, double check that you have your income information ready and any other documents proving that you can pay back the loan. The more evidence you provide, the more likely your loan request will be granted.

When Will I Get My Deposit in Decatur, AL?

When you receive your loan actually relies on the lender as some lenders advertise same-day payday loans, which means you will get your paycheck advance loan on the same day you request a loan, as long as you get an approval.

Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not see your loan until Monday.

If you're needing a same-day payday loan in Decatur, Alabama, you will need to make sure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that deadline. However, you should submit an application earlier than that if able, as it will boost the likelihood that you get your funds on the day that you apply.

One other factor that you should know is even if the money lender approves your application and posts the loan to your checking account, sometimes the bank won't release that funds immediately. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the money earlier.

Overall, it's wise to prepare ahead of time to get cash on the following business day. That way, you're not out of luck if you cannot get it on the same day.

Think About Working With Us

If you possess less than great credit or no credit and are looking to get a paycheck advance loan, consider applying with us, as you frequently have a better chance of approval.

We work with over one hundred different lenders who provide their services online. Frequently you will get your cash on the next business day so make sure that you plan accordingly.

However, you can always find the nearest cash advance loan store to you and apply in person to increase the chances of receiving your money on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may ask for proof of address, so bring a utility bill to the store as well.

To find the nearest cash advance loan storefront, please refer to the list below and search for your city.

Payday Loan Direct Lender Companies in Decatur, AL

Below you will find a list of payday loan companies offering their services in Decatur, Alabama. If you can't find a lender near your location in Decatur, consider applying in a nearby city in Alabama. Alternatively, you can apply online on our website and get a decision almost instantly.