Payday Loans in Fort Payne, Alabama
Incidents happen, and we usually wind up in a situation where we must pay for some unforeseen costs. Consider applying for a paycheck advance loan in Fort Payne, AL, to see if you meet the requirements.
The loan application process is fast and simple. To be qualified, loan borrowers must meet a couple of basic requirements.
What is a Payday Loan? What Can It Be Used For?
A paycheck advance loan is where the borrower will receive a small sum of funds on a short-term contract. This is thought of as an unsecured personal loan due to the fact that no collateral is required.
When unexpected bills present themselves, for example past due rent or utility costs, car repairs, health or vet bills, and so on, individuals usually seek out payday advance loans.
Payday Loan Stipulations In Fort Payne, Alabama
In Fort Payne, AL, paycheck advance loan borrowers must meet several requirements to qualify for a loan.
The borrower must:
- Provide proof that they live in Fort Payne, AL
- Must be at least 18
- Have an income that they can prove that's at least $1,000/month
- Give up-to-date contact information including phone number and email address
- Provide their SSN
If a borrower does not meet the above requirements, they will automatically be denied a payday loan. Make sure you can provide the documents required when submitting your application.
Laws and Regulations Regarding Payday Advance Loans in Fort Payne, AL
The State of Alabama has ruled paycheck advance lending legal. Although, they have created the below rules and laws for the payday advance lending industry:
- An individual lender can't extend a loan greater than $600. Borrowers may not take out greater than two unpaid loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In the State of Alabama, borrowers are not allowed to rollover their loans.
- The fees and charges change for each loan lender. The service costs enacted by lenders on a cash advance loan are not considered interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Payday Lenders in Fort Payne, Alabama, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we work with will do a credit check on you, but, even if you possess no credit or poor credit, you might still be approved for a loan given that you can prove that you can repay the loan. Lenders are usually unconcerned about your credit history if you offer proof of income and a strategy to pay back the loan.
Lenders will use a soft credit check, which will have no impact on your credit score. This is simply to get an idea of your credit history and basic information.
A hard credit inquiry, dissimilarly, must have your explicit consent. These credit inquiries are done for a plethora of purposes, including mortgages, credit cards, and more.
You might still qualify for a payday loan with poor credit in Fort Payne, AL, as long as you have proof of repayment.
Therefore, when you apply, whether it is in person or online, ensure that you have your income information at hand and any other documents proving that you can repay the loan. The more evidence you provide, the more likely you are to be approved.
When Will I Get My Deposit in Fort Payne, AL?
When you see your money really relies on the lender as some lenders advertise same-day cash advance loans, which means you will get your paycheck advance loan on the same day you apply, as long as you receive an approval.
Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not receive your money until Monday.
If you're looking for a same-day payday advance loan in Fort Payne, AL, you will need to ensure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will boost the likelihood that you see your deposit on the same day that you apply.
One additional consideration that you should understand is even if the money lender grants your loan request and posts the funds to your bank account, sometimes the bank won't release that funds immediately. It's paramount that you let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the cash earlier.
Overall, it's wise to prepare in advance to receive money on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Working With Us
If you possess bad credit or no credit and are needing to get a payday advance loan, think about applying through us, as you usually have a higher chance of approval.
We partner with hundreds of different lenders who offer their services online. Most of the time you will get your loan on the next business day so ensure that you plan appropriately.
Although, you can always find the nearest paycheck advance loan storefront to you and apply in person to strengthen the chances of getting 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. Occasionally, lenders may request proof of address, so take along a utility bill to the store too.
To locate the nearest payday advance loan storefront, please refer to the list below and find your city.
Payday Loan Direct Lender Companies in Fort Payne, AL
Below you will find a list of payday loan companies offering their services in Fort Payne, Alabama. If you can't find a lender near your location in Fort Payne, consider applying in a nearby city in Alabama. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Fort Payne, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.