Payday Loans in Opelousas, Louisiana

Incidents happen, and we usually end up in a situation where we have to pay for some unforeseen costs. Consider applying for a cash advance loan in Opelousas, LA, to see if you meet the requirements.

The loan application process is swift and simple. To be qualified, borrowers have to meet a few 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 amount of cash on a short-term contract. This is considered an unsecured loan as no collateral is needed.

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

Paycheck Advance Loan Criteria In Opelousas, LA

In Opelousas, LA, paycheck advance loan borrowers are required to meet several requirements to be eligible for a loan.

The borrower has to:

• Show proof that they live in Opelousas, LA
• Must be at least 18
• Receive a steady income that they can prove that's at least $1,000 per month
• Provide active contact details including phone number and email address
• Provide their SSN

If a borrower does not abide by the above criteria, they will automatically be denied a cash advance loan. Make sure you possess the documentation needed when applying for a loan.

Laws and Rules Regarding Payday Loans in Opelousas, Louisiana

The State of Louisiana has deemed cash advance lending legal. Still, they have put forth the below rules and regulations for the payday lending market:

• A single money lender cannot extend a loan greater than $600. Borrowers may not have greater than two unpaid loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not determined, the maximum loan term length is 31 days. In Louisiana, borrowers may not rollover their loans.
• The fees and charges vary for each loan lender. The service fees enacted by lenders on each loan or transaction 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 settled upon. APR can range up to 369%.

Will Paycheck Advance Lenders in Opelousas, Louisiana, Complete Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we partner with will complete a credit check on you, still, even if you possess no credit or poor credit, you may still be eligible for a loan provided you can prove that you are able to pay back the loan. Lenders are generally unbothered by your credit if you offer proof of income and a strategy to repay the loan.

Lenders will perform a soft credit check, which will have no impact on your credit score. This is only to get an idea of your credit history and general information.

A hard credit pull, on the other hand, must have your explicit consent. These credit inquiries are used for a plethora of purposes, such as mortgages, credit card applications, and more.

You may still qualify for a payday advance loan with less than great credit in Opelousas, Louisiana, provided that you have proof of repayment.

Therefore, when you request a loan, albeit in person or online, double check that you have your income information ready and any other documents showing that you can pay back the loan. The more proof you show, the better chance your loan application will be approved.

When Will I See My Deposit in Opelousas, Louisiana?

When you receive your funds actually depends on your lender as some lenders offer same-day cash 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.

Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses usually close for holidays and weekends. So, if you apply on a Friday, you might not get your money until Monday.

If you're wanting a same-day paycheck advance loan in Opelousas, LA, you will need to ensure you're applying by 10:30 am. All same-day loans 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 same day that you apply.

One other factor that you should be aware of is despite if the lender approves your application and posts the deposit to your checking account, occasionally the bank won't release that loan immediately. 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 money earlier.

On the whole, it's best to prepare ahead of time to get your loan on the following business day. That way, you're not left in the lurch if you cannot receive it on the same day.

Think About Borrowing From Us

If you have underwhelming credit or no credit and are wanting to get a payday loan, think about applying through us, as you frequently have a better chance of approval.

We partner with more than one hundred different lenders who provide their services online. Much of the time you will see your deposit on the next business day so ensure that you plan accordingly.

However, you can always locate the nearest paycheck advance loan store to you and apply in person to strengthen the chances of receiving your funds on the same business day. When applying in person, ensure 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 paycheck advance loan store, please use the list below and find your city.

Payday Loan Direct Lender Companies in Opelousas, LA

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