Payday Loans in Highland Lakes, Alabama

Events happen, and we often wind up in a place where we have to cover some unexpected expenses. Think about submitting an application for a paycheck advance loan in Highland Lakes, AL, to see if you are eligible.

The loan process is quick and simple. To be qualified, you have to satisfy a couple of straightforward conditions.

What is a Cash Advance Loan? What Can It Cover?

A payday advance loan is where the borrower will be extended a petite amount of cash on a short-term basis. This is deemed to be an unsecured loan as no collateral is needed.

When surprise bills arise, for example past due rent or utility costs, car fees, health or vet costs, and so forth, individuals often turn to payday advance loans.

Payday Advance Loan Stipulations In Highland Lakes, Alabama

In Highland Lakes, AL, payday advance loan borrowers are required to meet several criteria to qualify for a loan.

The borrower must:

• Provide proof that they are a resident of Highland Lakes, AL
• Must be at least 18
• Receive a steady stream of income that they can provide proof of being at least $1,000/month
• Give active contact details such as cell phone number and email address
• Give their SSN

If a borrower does not abide by the above criteria, they will automatically be denied a payday loan. Ensure that you possess the documentation needed when applying.

Laws and Rules Regarding Payday Advance Loans in Highland Lakes, Alabama

The State of Alabama has deemed payday lending legal. Still, they have set the following rules and laws for the payday advance lending market:

• A single money lender cannot extend a loan for more than $600. Borrowers are not allowed to take out greater than two unpaid loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the longest loan term length is 31 days. In Alabama, borrowers are unable to rollover their loans.
• The fees and charges are different for each loan lender. The service fees charged by lenders on a payday loan do not fall under interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
• An interest rate must be mutually decided upon. APR can range up to 369%.

Will Payday Advance Lenders in Highland Lakes, AL, Run Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we have a relationship with will run a credit check on you, still, even if you possess no credit or bad credit, you may still be approved for a loan given that you can show that you are able to repay the loan. Lenders are usually unconcerned about your credit if you provide proof of income and a strategy to pay back the loan.

Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is only to get a look at your credit history and general information.

A hard credit inquiry, dissimilarly, needs your explicit consent. These credit checks are performed for a variety of purposes, such as mortgages, credit cards, and more.

You may still qualify for a payday advance loan with less than great credit in Highland Lakes, AL, if you have proof of repayment.

So, when you apply, albeit in person or online, ensure that you have your income information ready and any other documents verifying that you can pay back the loan. The more proof you provide, the better chance your loan application will be approved.

When Will I Receive My Loan in Highland Lakes, Alabama?

When you get your loan truly relies on your lender as some lenders advertise same-day payday advance loans, which means you will get your payday advance loan on the same day you apply, as long as you're approved.

Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses usually close for holidays and weekends. So, if you submit your application on a Friday, you might not get your cash until Monday.

If you're needing a same-day payday loan in Highland Lakes, 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 cut-off. However, you should apply earlier than that if able, as it will boost the likelihood that you receive your funds on the day that you apply.

One additional consideration that you should know is despite if the money lender grants your loan request and posts the funds to your bank account, sometimes the bank won't release that credit right away. It's vital 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 deposit earlier.

Overall, it's best to prepare ahead of time to get money on the next 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 needing to get a cash advance loan, consider applying with us, as you probably have a higher chance of approval.

We partner with more than one hundred different lenders who provide their services online. Often you will see your deposit on the next business day so make sure that you plan appropriately.

Although, you can always locate the closest payday advance loan storefront to you and apply in person to boost the chances of getting your loan on the same day. When applying in person, make sure 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 take along a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Highland Lakes, AL

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