Payday Loans in Lanett, Alabama

Things happen, and we often end up in a situation where we must pay for some surprise bills. Consider applying for a payday advance loan in Lanett, Alabama, to see if you meet the requirements.

The loan process is fast and simple. To be qualified, loan borrowers must meet a few basic conditions.

What is a Paycheck Advance Loan? What Can It Pay For?

A payday advance loan is where the borrower will receive a small sum of cash on a short-term basis. This is considered an unsecured personal loan due to the fact that no collateral is needed.

When surprise bills come up, for example missed rent or utility payments, car repairs, health or vet expenditures, and so forth, individuals frequently turn to payday loans.

Payday Advance Loan Requirements In Lanett, AL

In Lanett, AL, paycheck advance loan borrowers need to satisfy a few requirements to qualify for a loan.

The borrower must:

• Show proof that they are a resident of Lanett, Alabama
• Must be 18 or older
• Have a steady stream of income that they can prove that's at least $1,000 per month
• Provide current contact details including phone number and email address
• Give their SSN

If a borrower does not satisfy the above rules, they will immediately be denied a cash advance loan. Ensure that you have the documentation required when applying.

Laws and Regulations Regarding Payday Loans in Lanett, Alabama

Alabama has deemed payday lending legal. However, they have created the below rules and regulations for the payday advance lending industry:

• A single lender can't offer a loan greater than $600. Borrowers are not allowed to have more than two outstanding loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the longest loan term length is 31 days. In the State of Alabama, borrowers are unable to rollover their loans.
• The fees and charges vary for each lender. The service costs charged by lenders on a cash advance loan do not fall under interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
• An interest rate is required to be mutually settled upon. APR can range up to 369%.

Will Payday Lenders in Lanett, Alabama, Perform Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we have a relationship with will do a credit check on you, but, even if you have no credit or dismal credit, you might still be approved for a loan as long as you can show that you can pay back the loan. Lenders are typically unconcerned about your credit history if you possess 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 only to get a feel of your credit history and general information.

A hard credit inquiry, on the other hand, needs your permission. These credit checks are used for a variety of purposes, such as mortgages, credit card applications, and more.

You may still be approved for a paycheck advance loan with bad credit in Lanett, Alabama, provided that you can prove you will repay the loan.

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

When Will I Get My Loan in Lanett, Alabama?

When you get your cash really relies on your lender as some lenders advertise same-day payday loans, which means you will see your payday loan on the same day you submit your application, as long as you get an approval.

Most of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not get your money until Monday.

If you're wanting a same-day payday loan in Lanett, AL, you will need to make sure you're applying by 10:30 am. All same-day loans going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will boost the likelihood that you receive your money on the day that you submit your application.

One more consideration that you should be aware of is despite if the lender approves your application and posts the loan to your checking account, occasionally the bank won't release that funds at that time. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they could possibly make an exception in releasing the loan earlier.

On the whole, 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 get it on the same day.

Think About Borrowing From Us

If you possess less than great credit or no credit and are wanting to get a payday advance loan, consider applying with us, as you probably have a higher chance of approval.

We work with hundreds of different lenders who offer their services online. Often you will see your money on the following business day so ensure that you plan correctly.

However, you can always locate the closest paycheck advance loan store to you and apply in person to boost the chances of seeing your money on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may require proof of address, so bring a utility bill to the store too.

To locate the nearest payday loan store, please navigate to the list below and find your city.

Payday Loan Direct Lender Companies in Lanett, AL

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