Payday Loans in Wausau, Wisconsin
Events happen, and we usually end up in a situation where we must cover some surprise expenses. Think about submitting an application for a cash advance loan in Wausau, WI, to see if you meet the requirements.
The loan request process is quick and effortless. To be eligible, loan borrowers must meet a few simple criteria.
What is a Cash Advance Loan? What Can It Pay For?
A cash advance loan is where the borrower will be extended a petite sum of funds on a short-term basis. This is considered an unsecured personal loan as no collateral is required.
When unexpected expenses arise, like missed rent or utility bills, auto bills, medical or vet payments, and so on, people usually rely upon paycheck advance loans.
Payday Loan Criteria In Wausau, WI
In Wausau, Wisconsin, paycheck advance loan borrowers need to satisfy several criteria to qualify for a loan.
The borrower must:
- Prove that they reside in Wausau, WI
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000/month
- Give current contact details including phone number and email address
- Give their social security number
If a borrower does not satisfy the above requirements, they will immediately be denied a cash advance loan. Ensure that you possess the documentation required when requesting a loan.
Laws and Rules Concerning Payday Advance Loans in Wausau, Wisconsin
The State of Wisconsin has ruled paycheck advance lending legal. However, they have set the below rules and regulations for the payday lending industry:
- An individual money lender cannot extend a loan in excess of $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 set, the longest loan term length is 31 days. In Wisconsin, borrowers cannot rollover their loans.
- The fees and charges vary for each lender. The service costs charged by lenders on a loan do not fall under interest. The service fees apply to each $100 loaned and can range between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Wausau, Wisconsin, Run 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, but, even if you have no credit or less than stellar credit, you may still be eligible for a loan provided you can prove that you are able to repay the loan. Lenders are commonly unconcerned about your credit history if you offer proof of income and a strategy to pay back the loan.
Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is only to get a feel of your credit history and general information.
A hard credit inquiry, dissimilarly, requires your explicit consent. These credit pulls are performed for various purposes, including mortgages, credit cards, and more.
You may still qualify for a paycheck advance loan with imperfect credit in Wausau, Wisconsin, as long as you have proof of repayment.
So, when you request a loan, albeit in person or online, double check that you have your income information available and any other documents verifying that you can pay back the loan. The more proof you provide, the more likely you are to be approved.
When Will I Receive My Deposit in Wausau, WI?
When you get your deposit really relies on your lender as some lenders offer same-day payday loans, which means you will get your payday loan on the same day you apply, as long as you receive an approval.
Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. So, if you apply on a Friday, you may not receive your loan until Monday.
If you're looking for a same-day payday loan in Wausau, WI, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you see your money on the same day that you submit your application.
One more factor that you should be aware of is even if the lender grants your loan request and posts the loan to your bank account, occasionally the bank won't release that loan immediately. It's important to let your bank know that you plan to get a paycheck advance loan, so they could possibly make an exception in releasing the loan earlier.
Overall, it's best to prepare in advance to get your funds on the following business day. That way, you're not surprised if you cannot get it on the same day.
Think About Borrowing From PaydayLoanRadar
If you have bad credit or no credit and are searching to get a payday advance loan, consider applying with us, as you frequently have a better chance of approval.
We partner with hundreds of different lenders who offer their services online. Much of the time you will see your funds on the next business day so make sure that you plan appropriately.
However, you can always locate the closest paycheck advance loan storefront to you and apply in person to boost the chances of getting your cash on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may ask for proof of address, so bring a utility bill to the store too.
To find the nearest paycheck advance loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Wausau, WI
Below you will find a list of payday loan companies offering their services in Wausau, Wisconsin. If you can't find a lender near your location in Wausau, 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 Wausau, 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.