Payday Loans in Oxford, Alabama

Life happens, and we usually wind up in a place where we must pay for some surprise expenses. Consider submitting an application for a paycheck advance loan in Oxford, Alabama, to see if you meet the requirements.

The application process is fast and painless. To qualify, borrowers have to meet a few simple requirements.

What is a Payday Advance Loan? What Can It Be Put Towards?

A paycheck advance loan is where the borrower will receive a petite amount of funds on a short-term agreement. This is thought of as an unsecured personal loan because no collateral is expected.

When unexpected costs present themselves, like late rent or utility expenditures, vehicle costs, health or vet costs, and so on, people frequently turn to payday loans.

Cash Advance Loan Stipulations In Oxford, AL

In Oxford, Alabama, cash advance loan borrowers need to meet several stipulations to be eligible for a loan.

The borrower has to:

• Show proof that they live in Oxford, Alabama
• Must be at least 18
• Have an income that they can provide proof of being at least $1,000/month
• Provide up-to-date contact details including phone number and email address
• Provide their social security number

If a borrower does not abide by the above criteria, they will automatically be denied a payday advance loan. Ensure that you possess the documents needed when submitting your application.

Laws and Rules Regarding Payday Advance Loans in Oxford, Alabama

Alabama has deemed payday advance lending legal. Although, they have enacted the following rules and regulations for the payday lending market:

• An individual lender cannot extend a loan greater than $600. Borrowers cannot take out more than two active 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 may not rollover their loans.
• The fees and charges vary for each money lender. The service fees enacted by the lender on a payday loan do not fall under interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
• An interest rate is required to be mutually agreed upon. APR can be as much as 369%.

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

Yes, the lenders we partner with will complete a credit check on you, but, even if you have no credit or less than optimal credit, you may still be eligible for a loan given that you can prove that you can repay the loan. Lenders are generally unbothered by your credit if you offer proof of income and a plan to repay the loan.

Lenders will use a soft credit inquiry, which will have no impact on your credit score. This is solely to get an idea of your credit history and basic information.

A hard credit inquiry, alternatively, requires your permission. These credit inquiries are used for various purposes, such as mortgages, credit card applications, and more.

You may still be approved for a paycheck advance loan with less than great credit in Oxford, AL, as long as you can prove you will repay the loan.

So, when you apply, whether it is in person or online, double check that you have your income information at hand and any other documents showing that you can repay the loan. The more evidence you have, the more likely your loan request will be granted.

When Will I See My Loan in Oxford, Alabama?

When you get your loan really depends on the lender as some lenders provide same-day cash advance loans, which means you will get your payday advance loan on the same day you apply, as long as you get an approval.

Most of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses usually close for holidays and weekends. Therefore, if you apply on a Friday, you might not see your deposit until Monday.

If you're searching for a same-day payday advance loan in Oxford, Alabama, you will need to be sure that 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 apply earlier than that if possible, as it will increase the likelihood that you get your deposit on the day that you submit your application.

One additional consideration that you should understand is despite if the money lender grants your loan request and posts the loan to your checking account, occasionally the bank won't release that loan right away. It's important to let your bank know that you plan to get a payday loan, so they could possibly make an exception in releasing the money earlier.

On the whole, it's best to prepare in advance to get your loan on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.

Consider Working With PaydayLoanRadar

If you have underwhelming credit or no credit and are wanting to secure a payday advance loan, think about applying through us, as you frequently have a better chance of approval.

We partner with over one hundred different lenders who offer their services online. Frequently you will see your loan on the following business day so ensure that you plan appropriately.

Although, you can always locate the nearest payday loan store to you and apply in person to increase the chances of receiving your money on the same day. When submitting an application in person, make sure 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 as well.

To find the nearest payday loan store, please use the list below and find your city.

Payday Loan Direct Lender Companies in Oxford, AL

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