6 Reasons Why Quick Payday Loans Are An Option for People on Social Security Benefits

February 25, 2021 | Mason Roberts

Old man happy with payday loan cash

If you’re collecting Social Security and find yourself in need of some extra cash before your next check comes, then you should consider quick payday loans. People often think that you aren’t eligible for quick payday loans if you are on Social Security benefits, but it’s actually the opposite!

Social Security beneficiaries are one of the most reliable candidates for lenders of payday loans, because they get their money regularly, unlike many part-time employed people, especially freelancers.

Reasons Why Quick Payday Loans Are Great for People on Social Security Benefits

1. Easy to Access

Social security beneficiaries are drawn to these types of loans because they are incredibly fast and easy to get. With Fast Payday Loans, Inc. payday loans can be done in one day with all the proper paperwork, and you’ll have your cash the very same day you walked into the store.

Better yet, start the process online and wait for a representative to contact you about your form, and then you just need to come in to show your requested documents and sign the paperwork once you are approved.

2. Fewer Requirements

When getting started with payday loans Florida or in any other state, you basically only need a few documents to apply. Just gather the following documents and head into one of our locations:

  • Government Issued ID
  • Most Recent Social Security Pay Stub
  • Blank Check with Your Name on it from an Active Checking Account

That’s all you need to get your payday loan started and verified. Once it is approved, you’ll be able to get your money on the same business day!

3. Bad Credit, No Credit, All Credit Accepted

If you’re worried about that past-due car loan showing up on your credit report, don’t stress about it. It’s possible to get a quick payday loan with your proof of social security benefits. We’re not expecting you to come in with squeaky clean credit, so, there’s no need to worry about it!

This is one of the main reasons quick payday loans are so popular among borrowers today.

4. Payday Loans are Unsecured

Unlike the mortgage on your house, lines of credit, or car title loans, quick payday loans Florida are not secured by any of your personal property. If you miss your payment, nobody’s coming to take your possessions in the middle of the night.

However, it is still important to make all your payments on time, because it’s the right thing to do, and lenders have rights as well.

5. Payday Loans Are a Helping Hand in Emergencies

Payday loans Florida can be an excellent buffer until your next paycheck arrives. Whether you need to use them to pay off outstanding bills or some type of medical emergency came up, and you need cash fast, payday loans will help you take care of that.

Man on social security benefits surprised about quick payday loans

6. Flexible Schedules with Payday Loans Florida

Unlike many other financial institutions, Fast Payday Loans, Inc. has a flexible customer service schedule. We understand that many people are too busy and may not have time to apply for loans during the weekdays.

That’s why many of our stores are open on Saturdays for your convenience. In case you aren’t sure if getting a payday loan is the right choice for you and need a consultation, you can use our live chat function to talk to a real person. Our dedicated agents will be happy to assist you Monday-Friday 9am-5pm.

Who Can Apply for Payday Loans?

Anybody with a paycheck, either from a place of employment or from social security benefits, can apply for a payday loan. You just need to make sure you can provide the proof of income along with other items required.

What is the Maximum Amount Allowed for Payday Loans?

Depending on the state you reside in and the financial institution you’re dealing with, the amounts allowed can vary between $300 and up to $1,000. You can borrow up to $1000 with Fast Payday Loans, Inc.

What Are the Quick Payday Loan Repayment Terms?

Most payday loans are due when you receive your next paycheck. However, those terms can vary and should be discussed at the time of inquiry. Since social security checks are typically paid off once a month, then your payment would be due the following month after receiving your payday loan.

Get Quick Payday Loans in Florida Today!

Quick payday loans for people on social security are a fast and reliable way to gain access to the cash you usually don’t have on hand. It’s a solution that many people can benefit from without feeling guilty. Payday loans Florida is a good option even for senior citizens who need money quickly! Contact us today to get more information on quick payday loans in Florida!