Payday Loans in West Valley City, Utah
Incidents happen, and we usually wind up in a place where we must pay for some unexpected costs. Think about applying for a paycheck advance loan in West Valley City, UT, to see if you qualify.
The application process is quick and painless. To qualify, loan borrowers must satisfy a few basic requirements.
What is a Paycheck Advance Loan? What Can It Pay For?
A payday advance loan is where the borrower will be extended a small amount of funds on a short-term basis. This is deemed to be an unsecured loan as no collateral is required.
When surprise costs arise, for example past due rent or utility expenditures, auto fees, health or vet bills, and so forth, people frequently turn to cash advance loans.
Cash Advance Loan Stipulations In West Valley City, Utah
In West Valley City, Utah, payday advance loan borrowers are required to meet several criteria to be eligible for a loan.
The borrower is required to:
- Prove that they reside in West Valley City, Utah
- Must be 18 years of age
- Have a steady stream of income that they can provide proof of being at least $1,000 per month
- Give active contact details such as phone number and email address
- Provide their SSN
If a borrower does not abide by the above criteria, they will automatically be denied a payday loan. Ensure that you possess the documents needed when applying.
Laws and Rules Concerning Cash Advance Loans in West Valley City, Utah
The State of Utah has deemed cash advance lending legal. However, they have put forth the below rules and laws for the payday advance lending market:
- An individual money lender cannot offer a loan for more than $600. Borrowers cannot possess more than two outstanding 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 Utah, borrowers are unable to rollover their loans.
- The fees and charges vary for each loan lender. The service fees enacted by lenders on a cash advance loan are not considered interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually decided upon. APR can be as high as 369%.
Will Cash Advance Lenders in West Valley City, Utah, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will complete a credit check on you, still, even if you have 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 unconcerned about your credit history if you offer proof of income and a plan to repay the loan.
Lenders will perform a soft credit check, which will have no impact on your credit score. This is solely to get a look at your credit history and basic information.
A hard credit pull, dissimilarly, must have your permission. These credit checks are done for a plethora of purposes, such as mortgages, credit cards, and more.
You might still be approved for a cash advance loan with poor credit in West Valley City, Utah, provided that you have proof of repayment.
Therefore, when you apply, whether it is in person or online, make sure that you have your income information easily accessible and any other documents showing that you can repay the loan. The more proof you possess, the more likely your loan application will be approved.
When Will I Receive My Loan in West Valley City, UT?
When you receive your funds actually relies on the lender as some lenders offer same-day cash advance loans, which means you will see your cash advance loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. So, if you apply on a Friday, you might not receive your money until Monday.
If you're searching for a same-day payday loan in West Valley City, UT, you will need to ensure you're applying by 10:30 am. All same-day funds 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 get your funds on the day that you submit your application.
One more consideration that you should understand is despite if the money lender grants your loan request and posts the deposit to your checking account, occasionally the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the deposit earlier.
On the whole, it's wise to prepare in advance to get your funds on the next business day. That way, you're not surprised if you cannot get it on the same day.
Consider Working With PaydayLoanRadar
If you possess less than great credit or no credit and are searching to get a cash advance loan, think about applying with us, as you frequently have a better chance of approval.
We partner with over one hundred different lenders who offer their services online. Much of the time you will receive your money on the next business day so make sure that you plan correctly.
However, you can always find the nearest paycheck advance loan store to you and apply in person to boost the chances of seeing your loan on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may require proof of address, so bring a utility bill to the store too.
To locate the nearest payday loan store, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in West Valley City, UT
Below you will find a list of payday loan companies offering their services in West Valley City, Utah. If you can't find a lender near your location in West Valley City, consider applying in a nearby city in Utah. 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 West Valley City, 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.