Payday Loans in Guntersville, Alabama

Life happens, and we often find ourselves in a spot where we must pay for some surprise bills. Think about applying for a payday loan in Guntersville, Alabama, to see if you meet the requirements.

The loan process is fast and simple. To be eligible, you must meet a couple of simple requirements.

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

A payday loan is where the borrower will receive a small amount of cash on a short-term agreement. This is deemed to be an unsecured personal loan due to the fact that no collateral is required.

When surprise bills present themselves, like past due rent or utility fees, vehicle fixes, medical or vet expenditures, and so forth, individuals frequently seek out paycheck advance loans.

Paycheck Advance Loan Criteria In Guntersville, AL

In Guntersville, AL, paycheck advance loan borrowers must satisfy several stipulations to be eligible for a loan.

The borrower has to:

• Prove that they are a resident of Guntersville, AL
• Must be 18 years old
• Have a steady stream of income that they can prove that's at least $1,000 per month
• Provide active contact information including cell phone number and email address
• Give their SSN

If a borrower does not satisfy the above rules, they will immediately be denied a payday loan. Ensure that you possess the documentation needed when submitting your application.

Laws and Regulations Concerning Payday Loans in Guntersville, AL

The State of Alabama has ruled payday advance lending legal. Although, they have enacted the following rules and laws for the payday lending market:

• An individual lender cannot extend a loan greater than $600. Borrowers cannot have more than two unpaid loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In Alabama, borrowers cannot rollover their loans.
• The fees and charges are different for each lender. The service costs enacted by lenders on a payday loan are not considered interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
• An interest rate must be mutually agreed upon. APR can be as much as 369%.

Will Payday Advance Lenders in Guntersville, Alabama, Complete Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we partner with will do a credit check on you, but, even if you have no credit or poor credit, you may still be approved for a loan provided you can show that you can pay back the loan. Lenders are typically unbothered by your credit if you provide proof of income and a plan to pay back the loan.

Lenders will conduct a soft credit check, which will not impact your credit score. This is only to get an idea of your credit history and basic information.

A hard credit pull, on the other hand, must have your explicit consent. These credit inquiries are performed for various purposes, including mortgages, credit cards, and more.

You may still qualify for a paycheck advance loan with poor credit in Guntersville, Alabama, as long as you have proof of repayment.

Therefore, when you apply for a loan, albeit in person or online, make sure that you have your income information easily accessible and any other documents verifying that you can repay the loan. The more proof you provide, the more likely you are to be approved.

When Will I Receive My Cash in Guntersville, AL?

When you receive your money actually relies on the lender as some lenders provide same-day paycheck advance loans, which means you will see your cash advance loan on the same day you submit your application, as long as you're approved.

Most of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. So, if you apply on a Friday, you may not see your money until Monday.

If you're wanting a same-day paycheck advance loan in Guntersville, Alabama, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you receive your deposit on the same day that you apply.

One other consideration that you should understand is despite if the money lender grants your loan request and posts the loan to your bank, sometimes the bank won't release that funds at that time. It's vital that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the deposit earlier.

Overall, it's wise to prepare in advance to receive your funds on the following business day. That way, you're not out of luck if you cannot receive it on the same day.

Consider Borrowing From PaydayLoanRadar

If you have less than great credit or no credit and are looking to get a payday loan, think about applying with us, as you usually have a better chance of approval.

We partner with over one hundred different lenders who offer their services online. Often you will receive your money on the following business day so ensure that you plan accordingly.

Although, you can always find the nearest cash advance loan storefront to you and apply in person to increase the chances of getting your funds on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so take along a utility bill to the store too.

To locate the nearest payday loan store, please refer to the list below and search for your city.

Payday Loan Direct Lender Companies in Guntersville, AL

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