Payday Loans in Prattville, Alabama

Life happens, and we often end up in a spot where we have to cover some unexpected bills. Consider submitting an application for a paycheck advance loan in Prattville, AL, to see if you qualify.

The loan process is quick and simple. To qualify, you must satisfy a couple of basic criteria.

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

A payday loan is where the borrower will get a petite sum of funds on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is expected.

When surprise financial needs present themselves, such as missed rent or utility expenditures, car fees, health or vet payments, and so on, people usually turn to payday advance loans.

Payday Advance Loan Requirements In Prattville, Alabama

In Prattville, Alabama, payday advance loan borrowers must meet several requirements to qualify for a loan.

The borrower is required to:

• Prove that they reside in Prattville, AL
• Must be 18 years of age
• Have a steady stream of income that they can prove that's at least $1,000 per month
• Give up-to-date contact details like phone number and email address
• Give their SSN

If a borrower does not meet the above requirements, they will immediately be denied a payday loan. Ensure that you can provide the documents required when requesting a loan.

Laws and Regulations Concerning Paycheck Advance Loans in Prattville, AL

Alabama has ruled paycheck advance lending legal. Still, they have created the below rules and regulations for the cash advance lending market:

• A single lender can't extend a loan in excess of $600. Borrowers may not 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 Alabama, borrowers cannot rollover their loans.
• The fees and charges vary for each money lender. The service costs charged by lenders on a payday loan are not considered interest. The service fees apply to every $100 loaned and can range from 11% up to 15%.
• An interest rate is required to be mutually decided upon. APR can range up to 369%.

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

Yes, the lenders we work with will run a credit check on you, still, even if you possess no credit or poor credit, you may still be eligible for a loan as long as you can prove that you can repay the loan. Lenders are commonly unconcerned about your credit if you provide proof of income and a strategy to repay the loan.

Lenders will conduct a soft credit check, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.

A hard credit inquiry, on the other hand, needs your permission. These credit checks are done for a variety of purposes, including mortgages, credit cards, and more.

You can still qualify for a cash advance loan with bad credit in Prattville, AL, as long as you can prove you will repay the loan.

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

When Will I See My Loan in Prattville, Alabama?

When you see your funds actually depends on your lender as some lenders provide same-day paycheck advance loans, which means you will see your cash advance loan on the same day you apply, as long as you receive an approval.

Most of the time, though, lenders will give 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 get your loan until Monday.

If you're looking for a same-day payday advance loan in Prattville, AL, you will need to be sure that you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that deadline. However, you should submit an application earlier than that if able, as it will increase the likelihood that you see your loan on the same day that you apply.

One other factor that you should be aware of is despite if the money lender grants your loan request and posts the credit to your bank account, sometimes the bank won't release that credit immediately. It's vital that you let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the cash earlier.

Overall, it's wise to prepare ahead of time to receive your loan on the following business day. That way, you're not surprised if you cannot get it on the same day.

Think About Working With PaydayLoanRadar

If you possess poor credit or no credit and are searching to get a payday advance loan, think about applying through us, as you usually have a better chance of approval.

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

Although, you can always find the nearest payday loan storefront to you and apply in person to strengthen the chances of getting your cash on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may ask for proof of address, so take along a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Prattville, AL

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