Payday Loans in Lauderdale Lakes, Florida
Life happens, and we usually end up in a spot where we must cover some surprise expenses. Think about applying for a payday loan in Lauderdale Lakes, FL, to see if you meet the requirements.
The loan process is quick and effortless. To qualify, borrowers have to satisfy a few basic criteria.
What is a Paycheck Advance Loan? What Can It Cover?
A paycheck advance loan is where the borrower will be extended a small sum of funds on a short-term basis. This is thought of as an unsecured personal loan as no collateral is needed.
When surprise expenses come up, like missed rent or utility bills, auto costs, health or vet costs, and so on, individuals commonly rely upon cash advance loans.
Payday Advance Loan Requirements In Lauderdale Lakes, FL
In Lauderdale Lakes, FL, payday advance loan borrowers need to satisfy a few stipulations to qualify for a loan.
The borrower has to:
- Show proof that they reside in Lauderdale Lakes, FL
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000 per month
- Give current contact details such as phone number and email address
- Provide their social security number
If a borrower does not meet the above requirements, they will automatically be denied a payday advance loan. Make sure you have the documentation required when requesting a loan.
Laws and Rules Regarding Paycheck Advance Loans in Lauderdale Lakes, Florida
The State of Florida has ruled payday lending legal. Although, they have put forth the following rules and laws for the payday advance lending industry:
- A single money lender can't extend a loan in excess of $600. Borrowers may not take out greater than two unpaid 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 Florida, borrowers may not rollover their loans.
- The fees and charges vary for each lender. The service fees charged 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 must be mutually agreed upon. APR can range up to 369%.
Will Cash Advance Lenders in Lauderdale Lakes, Florida, 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, still, even if you have no credit or dismal credit, you may still be eligible for a loan as long as you can show that you can pay back the loan. Lenders are commonly unconcerned about your credit if you have proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, which will have no impact on your credit score. This is only to get an idea of your credit history and basic information.
A hard credit check, on the other hand, requires your explicit consent. These credit inquiries are utilized for a variety of purposes, such as mortgages, credit cards, and more.
You can still be approved for a cash advance loan with bad credit in Lauderdale Lakes, Florida, as long as you can prove you will repay the loan.
So, when you request a loan, whether it is in person or online, double check that you have your income information ready and any other documents verifying that you can repay the loan. The more evidence you possess, the better chance your loan request will be granted.
When Will I See My Loan in Lauderdale Lakes, FL?
When you see your deposit actually depends on the lender as some lenders provide same-day cash advance loans, which means you will receive your payday advance loan on the same day you request a loan, as long as you receive an approval.
Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Therefore, if you apply on a Friday, you may not see your funds until Monday.
If you're wanting a same-day cash advance loan in Lauderdale Lakes, Florida, you will need to make sure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that time. However, you should apply earlier than that if able, as it will boost the likelihood that you see your cash on the same day that you apply.
One additional factor that you should understand is even if the lender approves your application and posts the credit to your checking account, sometimes the bank won't release that funds right away. It's important to let your bank know that you plan to get a payday loan, so they might make an exception in releasing the funds earlier.
Overall, it's wise to prepare ahead of time to receive your deposit on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Working With PaydayLoanRadar
If you have poor credit or no credit and are needing to get a payday loan, think about applying with us, as you probably have a better chance of approval.
We partner with more than one hundred different lenders who offer their services online. Often you will see your funds on the following business day so ensure that you plan accordingly.
However, you can always locate the closest payday advance loan storefront to you and apply in person to strengthen the chances of receiving your cash on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may ask for proof of address, so take along a utility bill to the store as well.
To locate the nearest paycheck advance loan storefront, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Lauderdale Lakes, FL
Below you will find a list of payday loan companies offering their services in Lauderdale Lakes, Florida. If you can't find a lender near your location in Lauderdale Lakes, consider applying in a nearby city in Florida. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Lauderdale Lakes, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.