Payday Loans in Harwood Heights, Illinois
Life happens, and we usually wind up in a spot where we have to pay for some unforeseen expenses. Consider applying for a cash advance loan in Harwood Heights, IL, to see if you qualify.
The loan application process is swift and straightforward. To be qualified, loan borrowers must meet a couple of basic criteria.
What is a Payday Advance Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will be extended a petite sum of money on a short-term contract. This is deemed to be an unsecured personal loan due to the fact that no collateral is needed.
When unexpected expenses arise, for example missed rent or utility fees, car costs, medical or vet payments, and so forth, people often rely upon paycheck advance loans.
Paycheck Advance Loan Criteria In Harwood Heights, Illinois
In Harwood Heights, Illinois, paycheck advance loan borrowers are required to meet several criteria to qualify for a loan.
The borrower is required to:
- Prove that they reside in Harwood Heights, Illinois
- Must be 18 years of age
- Have a steady stream of income that they can prove that's at least $1,000 per month
- Provide up-to-date contact details such as phone number and email address
- Give their SSN
If a borrower does not meet the above requirements, they will automatically be denied a paycheck advance loan. Make sure you possess the documents required when applying for a loan.
Laws and Regulations Concerning Payday Loans in Harwood Heights, IL
Illinois has deemed payday advance lending legal. However, they have put forth the below rules and regulations for the payday advance lending industry:
- A single lender can't extend a loan for more than $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 maximum loan term length is 31 days. In Illinois, borrowers may not rollover their loans.
- The fees and charges change for each lender. The service costs enacted by the lender 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 Harwood Heights, Illinois, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we work with will perform a credit check on you, still, even if you have no credit or less than stellar credit, you might still be eligible for a loan as long as you can show that you are able to repay the loan. Lenders are usually unbothered by your credit history if you possess proof of income and a plan to pay back the loan.
Lenders will conduct a soft credit pull, 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 pull, dissimilarly, must have your permission. These credit checks are utilized for various purposes, including mortgages, credit cards, and more.
You may still be approved for a cash advance loan with imperfect credit in Harwood Heights, IL, provided that you can prove you will repay the loan.
Therefore, when you request a loan, whether it is in person or online, ensure that you have your income information at hand and any other documents showing that you can repay the loan. The more proof you have, the more likely your loan application will be approved.
When Will I Receive My Cash in Harwood Heights, IL?
When you see your funds truly depends on your lender as some lenders advertise same-day payday advance loans, which means you will get your paycheck advance loan on the same day you request a loan, as long as you get an approval.
Much of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. So, if you submit your application on a Friday, you may not receive your cash until Monday.
If you're searching for a same-day payday advance loan in Harwood Heights, 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 time. However, you should request a loan earlier than that if able, as it will boost the likelihood that you get your funds on the day that you submit your application.
One additional factor that you should be aware of is even if the lender grants your loan request and posts the credit to your bank account, sometimes the bank won't release that loan immediately. It's paramount that you let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the money earlier.
Overall, it's wise to prepare ahead of time to get your deposit on the following business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Consider Working With Us
If you possess underwhelming credit or no credit and are wanting to get a cash advance loan, think about applying through us, as you usually have a better chance of approval.
We partner with hundreds of different lenders who provide their services online. Much of the time you will see your money on the following business day so ensure that you plan correctly.
Although, you can always find the closest cash advance loan storefront to you and apply in person to increase the chances of getting your cash on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so take along a utility bill to the store as well.
To find the nearest cash advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Harwood Heights, IL
Below you will find a list of payday loan companies offering their services in Harwood Heights, Illinois. If you can't find a lender near your location in Harwood Heights, 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 Harwood Heights, 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.