How Much Cash Could You Get From A Payday Loan?
For most of us, financial emergencies can be unexpected and hard-hitting. The need for urgent cash due to sudden hospitalizations, car repairs, or unexpected travel can leave us in a financial bind. In such situations, loans can end up being our only option.
Financial institutions require a strong credit history and have a time taking process. In the absence of both, you will have to consider other collateralized loans. But if you have nothing to present as collateral then you might want to consider fast payday loans.
If you are in the market for a payday loan then here are a few things that you will need to know.
What Are Payday Loans?
Payday loans are short-term unsecured loans, meaning they do not require any collateral. They are fast and easy to secure and are meant for people with jobs. You can consider it as a bridge between paychecks and you are expected to pay it back from your next salary.
What Are The Requirements Of A Payday Loan?
The most important requirement for payday loans is that you need to be employed and be over 18 years of age. Furthermore, you need your government-issued ID, your most recent salary stub, and a blank check from an active checking account in your name.
How Much Cash Can You Get From Payday Loans?
At Fast Payday Loans, you can qualify for anything up to $1,000. The amount you qualify for will be based on your salary, but the loan representative will sit with you and discuss this in detail.
You will also go over a repayment schedule – which, again, is usually by the time you get your next paycheck. If the repayment doesn’t work for you, come talk to us and we will see what we can do.
How Are Payday Loans Different From Secured Loans?
The most obvious difference between payday loans and secured loans like title loans is that you need to have a car for the latter. Instead of using the title to your car as collateral, with payday loans, there is no collateral requirement. So if you don’t have a vehicle, you can still get a payday loan.
With a secured loan like title loans, you can borrow a relatively larger amount depending on the value of your vehicle. On the other hand, with payday loans from Florida, you can only get as much as $1,000 to help. Moreover, you get a longer time to pay back title loans with some lenders. However, with payday loans, you pay back by your next paycheck – which is usually in two weeks.
You also need to have a job and an active bank account to get a payday loan while there is no such requirement for secured loans.
Choosing between payday loans and secured loans like title loans depends on your criteria and needs. You should also know about all the benefits payday loans have.
Easy Access And Fast Payment
Payday loans are easy to acquire and guarantee cash payment the very same day. With Fast Payday Loans in Florida, the whole process is very easy and takes about half an hour. After you fill out an online application and your loan has been approved, the cash will be handed to you right there. There are no lengthy requirements or crushing paperwork.
Bad Credit Doesn’t Automatically Disqualify You
If you have been behind on your credit card payments then do not worry because that won’t affect your chances of applying for a payday loan. So whether you have bad credit or even no credit at all, you can still apply and not worry about being automatically denied. Also, all types of incomes are acceptable for payday loans.
How To Acquire A Payday Loan
To get a payday loan, search for payday loans near me. After you find all of our Fast Payday Loan locations, the rest of the process goes like this:
- Fill out the online form found on our website;
- Once you have applied, a representative will call you to confirm the information;
- After the call, head over to the location with your ID, most recent pay stub, and a blank check from a checking account in your name;
- The representative will check your documents and let you know the loan amount you are eligible for;
- Once they can approve you, you will get the cash right there on the same day. The whole process should be finished in under 30 minutes.
If you are considering taking out a payday loan to help in an emergency, it’s important to do your research. With this guide at hand, you will know exactly what you need to make the right decision for your situation. And if you need any extra help, you can always visit our website where you can find an online chat option with one of our loan representatives.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.