Payday Loans in Troy, Alabama

Things happen, and we often find ourselves in a spot where we have to cover some unforeseen bills. Consider applying for a paycheck advance loan in Troy, AL, to see if you meet the requirements.

The loan application process is quick and straightforward. To be qualified, borrowers have to meet a few general conditions.

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

A cash advance loan is where the borrower will be extended a small sum of funds on a short-term agreement. This is deemed to be an unsecured loan due to the fact that no collateral is expected.

When surprise costs present themselves, such as missed rent or utility payments, car repairs, medical or vet bills, and so forth, individuals usually seek out payday advance loans.

Payday Advance Loan Requirements In Troy, Alabama

In Troy, AL, payday advance loan borrowers need to satisfy several stipulations to be eligible for a loan.

The borrower has to:

• Provide proof that they live in Troy, AL
• Must be 18 or older
• Have an income that they can prove that's at least $1,000/month
• Give up-to-date contact details including cell phone number and email address
• Give their SSN

If a borrower does not meet the above rules, they will automatically be denied a paycheck advance loan. Make sure you have the documentation needed when submitting your application.

Laws and Rules Concerning Cash Advance Loans in Troy, Alabama

The State of Alabama has ruled payday advance lending legal. Still, they have set the below rules and regulations for the cash advance lending industry:

• A single money lender can't extend a loan in excess of $600. Borrowers are not allowed to possess greater than two active loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In Alabama, borrowers cannot rollover their loans.
• The fees and charges are different for each lender. The service costs enacted by the lender on each loan or transaction do not fall under interest. The service fees apply to every $100 loaned and can range between 11-15%.
• An interest rate is required to be mutually agreed upon. APR can range up to 369%.

Will Paycheck Advance Lenders in Troy, AL, Perform Credit Checks? What If I Have Dismal/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 dismal credit, you may still be eligible for a loan given that you can show that you are able to pay back the loan. Lenders are usually unconcerned about your credit history if you possess proof of income and a plan 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 basic information.

A hard credit pull, alternatively, needs your permission. These credit inquiries are done for a plethora of purposes, including mortgages, credit card applications, and more.

You can still qualify for a payday loan with poor credit in Troy, AL, as long as you have proof of repayment.

Therefore, when you apply for 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 have, the better chance your loan application will be approved.

When Will I Get My Deposit in Troy, Alabama?

When you get your money really depends on the lender as some lenders provide same-day cash advance loans, which means you will see your paycheck advance loan on the same day you request a loan, as long as you're approved.

Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not see your cash until Monday.

If you're wanting a same-day cash advance loan in Troy, AL, you will need to ensure you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that deadline. However, you should apply earlier than that if possible, as it will boost the likelihood that you receive your funds on the same day that you submit your application.

One other factor that you should be aware of is even if the lender approves your application and posts the funds to your bank, occasionally the bank won't release that deposit at that time. It's important to let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the funds earlier.

Overall, it's best to prepare in advance to get your funds on the next business day. That way, you're not surprised if you cannot receive it on the same day.

Think About Working With Us

If you have less than great credit or no credit and are wanting to secure a paycheck advance loan, think about applying through us, as you probably have a higher chance of approval.

We partner with over one hundred different lenders who provide their services online. Most of the time you will see your cash on the next business day so make sure that you plan correctly.

Although, you can always locate the closest paycheck advance loan storefront to you and apply in person to strengthen the chances of receiving your cash on the same business day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may require proof of address, so bring a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Troy, AL

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