Payday Loans in Southside, Alabama

Life happens, and we often find ourselves in a situation where we must pay for some unforeseen costs. Think about applying for a payday advance loan in Southside, AL, to see if you meet the requirements.

The loan request process is quick and effortless. To qualify, loan borrowers must meet a few general requirements.

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

A paycheck advance loan is where the borrower will get a small amount of funds on a short-term contract. This is thought of as an unsecured loan due to the fact that no collateral is needed.

When unexpected bills present themselves, like late rent or utility fees, vehicle costs, medical or vet bills, and so on, people frequently rely upon cash advance loans.

Payday Loan Criteria In Southside, Alabama

In Southside, Alabama, paycheck advance loan borrowers are required to satisfy a few criteria to be eligible for a loan.

The borrower is required to:

• Prove that they live in Southside, AL
• Must be 18 years of age
• Receive a steady income that they can prove that's at least $1,000/month
• Give current contact details like cell phone number and email address
• Give their social security number

If a borrower does not meet the above criteria, they will immediately be denied a payday loan. Ensure that you can provide the documentation needed when applying.

Laws and Rules Regarding Payday Loans in Southside, Alabama

Alabama has ruled payday lending legal. Although, they have set the following rules and laws for the cash advance lending market:

• A single money lender can't offer a loan in excess of $600. Borrowers cannot take out more than two active loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the longest loan term length is 31 days. In the State of Alabama, borrowers may not rollover their loans.
• The fees and charges are different for each lender. The service costs enacted by the lender on each loan or transaction are not considered interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
• An interest rate is required to be mutually agreed upon. APR can be as high as 369%.

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

Yes, the lenders we have a relationship with will perform a credit check on you, but, even if you possess no credit or dismal credit, you may still be approved for a loan given that you can show that you can pay back the loan. Lenders are typically unbothered by your credit history if you provide proof of income and a strategy to pay back the loan.

Lenders will perform a soft credit pull, which will not impact your credit score. This is only to get an idea of your credit history and general information.

A hard credit check, alternatively, must have your permission. These credit pulls are used for a plethora of purposes, including mortgages, credit card applications, and more.

You can still qualify for a payday loan with imperfect credit in Southside, Alabama, if you have proof of repayment.

Therefore, when you request a loan, albeit in person or online, make sure that you have your income information available and any other documents verifying that you can pay back the loan. The more evidence you show, the better chance your loan request will be granted.

When Will I See My Deposit in Southside, AL?

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

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

If you're needing a same-day paycheck advance loan in Southside, AL, you will need to be sure that you're applying by 10:30 am. All same-day payments going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you receive your cash on the day that you submit your application.

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

On the whole, it's best to prepare ahead of time to get your loan on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Consider Borrowing From Us

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

We work with hundreds of different lenders who offer their services online. Most of the time you will receive your cash on the following business day so ensure that you plan appropriately.

However, you can always locate the nearest paycheck advance loan storefront to you and apply in person to increase the chances of seeing your loan on the same day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may request proof of address, so bring a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Southside, AL

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