Payday Loans in Eau Claire, Wisconsin
Life happens, and we often wind up in a spot where we must cover some unexpected bills. Consider applying for a paycheck advance loan in Eau Claire, Wisconsin, to see if you are eligible.
The loan application process is swift and effortless. To be qualified, borrowers have to satisfy a few general criteria.
What is a Payday Loan? What Can It Be Used For?
A cash advance loan is where the borrower will be extended a petite sum of funds on a short-term agreement. This is considered an unsecured personal loan as no collateral is expected.
When unforeseen costs come up, like missed rent or utility bills, car fixes, health or vet payments, and so forth, people commonly seek out paycheck advance loans.
Payday Loan Requirements In Eau Claire, Wisconsin
In Eau Claire, WI, payday advance loan borrowers need to meet several requirements to qualify for a loan.
The borrower has to:
- Prove that they reside in Eau Claire, Wisconsin
- Must be 18 or older
- Have a steady stream of income that they can prove that's at least $1,000/month
- Give up-to-date contact information such as phone number and email address
- Provide their social security number
If a borrower does not meet the above rules, they will immediately be denied a paycheck advance loan. Make sure you can provide the documents needed when requesting a loan.
Laws and Regulations Regarding Cash Advance Loans in Eau Claire, WI
The State of Wisconsin has ruled paycheck advance lending legal. Still, they have enacted the below rules and regulations for the cash advance lending industry:
- An individual money lender can't extend a loan for more than $600. Borrowers cannot take out greater than two active loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In the State of Wisconsin, borrowers are not allowed to rollover their loans.
- The fees and charges are different for each lender. The service fees enacted by the lender on a cash advance loan do not fall under interest. The service fees apply to each $100 borrowed and can range from 11% up to 15%.
- An interest rate must be mutually agreed upon. APR can be as high as 369%.
Will Cash Advance Lenders in Eau Claire, WI, Complete 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, but, even if you possess no credit or dismal credit, you might still be approved for a loan provided you can show that you are able to pay back the loan. Lenders are commonly unbothered by your credit if you possess proof of income and a plan to pay back the loan.
Lenders will perform a soft credit inquiry, which will not impact your credit score. This is solely to get an idea of your credit history and general information.
A hard credit pull, dissimilarly, must have your permission. These credit inquiries are used for various purposes, such as mortgages, credit card applications, and more.
You can still qualify for a payday advance loan with less than great credit in Eau Claire, WI, if you have proof of repayment.
So, when you request a loan, albeit in person or online, make sure that you have your income information at hand and any other documents showing that you can pay back the loan. The more proof you have, the better chance your loan request will be granted.
When Will I Get My Deposit in Eau Claire, WI?
When you receive your funds actually relies on your lender as some lenders offer same-day payday advance loans, which means you will get your payday advance loan on the same day you submit your application, as long as you get an approval.
Much of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not see your money until Monday.
If you're searching for a same-day payday advance loan in Eau Claire, WI, you will need to be sure that you're applying by 10:30 am. All same-day funds going out that day will be approved by that cut-off. However, you should request a loan earlier than that if able, as it will increase the likelihood that you receive your money on the same day that you submit your application.
One more consideration that you should be aware of is despite if the lender approves your application and posts the funds to your checking account, occasionally the bank won't release that funds at that time. 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 funds earlier.
Overall, it's best to prepare in advance to get cash on the following business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Working With PaydayLoanRadar
If you possess less than great credit or no credit and are searching to get a payday advance loan, consider applying through us, as you most likely have a higher chance of approval.
We work with over one hundred different lenders who provide their services online. Frequently you will see your loan 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 strengthen the chances of seeing your money on the same day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may request proof of address, so take along 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 Eau Claire, WI
Below you will find a list of payday loan companies offering their services in Eau Claire, Wisconsin. If you can't find a lender near your location in Eau Claire, consider applying in a nearby city in Wisconsin. 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 Eau Claire, 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.