Payday Loans in Harvey, Illinois
Things happen, and we usually wind up in a spot where we have to cover some unforeseen bills. Think about submitting an application for a cash advance loan in Harvey, IL, to see if you qualify.
The loan request process is quick and painless. To be qualified, loan borrowers have to meet a few general requirements.
What is a Cash Advance Loan? What Can It Be Put Towards?
A payday advance loan is where the borrower will be extended a petite amount of funds on a short-term contract. This is considered an unsecured loan as no collateral is required.
When surprise financial needs arise, like late rent or utility payments, vehicle bills, medical or vet fees, and so forth, individuals often turn to cash advance loans.
Paycheck Advance Loan Criteria In Harvey, Illinois
In Harvey, Illinois, cash advance loan borrowers are required to meet a few stipulations to qualify for a loan.
The borrower is required to:
- Provide proof that they live in Harvey, IL
- Must be at least 18
- Have an income that they can provide proof of being at least $1,000/month
- Provide active contact information including cell phone number and email address
- Give their social security number
If a borrower does not abide by the above requirements, they will immediately be denied a payday loan. Make sure you can provide the documents needed when applying.
Laws and Rules Regarding Payday Advance Loans in Harvey, IL
The State of Illinois has ruled payday advance lending legal. Although, they have enacted the below rules and regulations for the cash advance lending industry:
- A single money lender can't offer a loan in excess of $600. Borrowers are not allowed to take out more than two outstanding loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Illinois, borrowers may not rollover their loans.
- The fees and charges vary for each loan lender. The service fees charged by lenders on a loan do not fall under 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 Advance Lenders in Harvey, Illinois, Run Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, but, even if you possess no credit or less than stellar credit, you may still be eligible for a loan provided you can show that you are able to pay back the loan. Lenders are typically unconcerned about your credit if you offer 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 look at your credit history and basic information.
A hard credit inquiry, dissimilarly, requires your permission. These credit checks are used for various purposes, such as mortgages, credit card applications, and more.
You can still qualify for a payday loan with poor credit in Harvey, Illinois, provided that you can prove you will repay the loan.
Therefore, when you apply, albeit in person or online, double check that you have your income information available and any other documents verifying that you can repay the loan. The more proof you possess, the more likely you are to be approved.
When Will I Get My Funds in Harvey, IL?
When you get your money really relies on the lender as some lenders provide same-day payday advance loans, which means you will see your cash advance loan on the same day you request a loan, as long as you get an approval.
Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not get your funds until Monday.
If you're searching for a same-day payday loan in Harvey, Illinois, you will need to be sure that 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 able, as it will boost the likelihood that you receive your funds on the day that you submit your application.
One other consideration that you should be aware of is even if the money lender grants your loan request and posts the credit to your bank, occasionally the bank won't release that funds immediately. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they could possibly make an exception in releasing the cash earlier.
Overall, it's wise to prepare ahead of time to get your loan on the following business day. That way, you're not out of luck if you cannot get it on the same day.
Think About Borrowing From Us
If you possess less than great 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 work with over one hundred different lenders who offer their services online. Most of the time you will get your funds on the next business day so make sure that you plan correctly.
However, you can always locate the nearest cash advance loan storefront to you and apply in person to strengthen the chances of getting your money 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 is sufficient. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store too.
To locate the nearest payday advance loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Harvey, IL
Below you will find a list of payday loan companies offering their services in Harvey, Illinois. If you can't find a lender near your location in Harvey, consider applying in a nearby city in Illinois. 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 Harvey, 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.