When It’s Time to Get an Alabama Payday Loan
There are lots of situations where an Alabama payday loan can provide great benefits and help you out when you need the cash on hand. When do you need a payday loan and how can they help you?
Payday loans are short-term borrowing opportunities where a lender extends credit based on your income. The principal is a portion of your paycheck and doesn’t require any collateral.
Payday loans usually only range up to $500 and are extremely short-term, making them easier to get if you need money in a pinch. The rest of this article will walk you through payday loans and when it’s best to get one.
What Is A Payday Loan?
A payday loan is a type of small loan that you repay as soon as you receive your next paycheck, usually within 2-4 weeks after taking out the loan. The limits on the Alabama payday loan are pretty small, typically only offering $500, but are available quickly and need to be paid off shortly after the loan is taken out.
Usually, payday loans don’t require a credit check, although certain lenders may want to check your credit anyway. Once you complete your application, you’ll fill out a postdated check for the borrowed amount, fees included, so that the lender is paid their dues.
When Should You Get A Payday Loan?
An Alabama payday loan is not ideal for frivolous purchases where you need a little bit of extra cash. You should only take out a payday loan if you need a little extra to make ends meet for the month.
You might also consider a payday loan if you need a few hundred dollars for car repairs or to pay off an unexpected medical bill. Sometimes, life hits you hard, and a loan can help you get back on your feet. Just make sure you consider all of your options and ensure you understand the terms and conditions of the loan before applying.
Payday loans are usually more readily available to people who have bad credit. Only take out what you need and make sure you have a plan in place for repaying the loan.
How Alabama Title Loans, Inc. Can Help
Alabama Title Loans, Inc. offers two types of loans that can help you out in a pinch. Payday loans are available up to $500, although you should only take out the amount that you need to make a payment. To qualify for a payday loan, you’ll need the following:
- A valid photo ID
- A 30-day recent statement showing activity from your bank account.
- A current pay stub
- A blank check from a valid checking account that’s currently in your name
The in-person process can take as little as 30 minutes, and you can usually get your money later that same day or on the following business day. Payday loans are approved in-store only, so be sure you can drop by one of the Alabama Title Loans, Inc. storefronts to complete the process. To get started, fill out the online inquiry form and wait for a representative to give you a call. Once you’ve talked about your loan needs, bring the above-mentioned requirements to the store. After the representative has verified your eligibility, you’ll possibly be approved for an Alabama payday loan and have the money later that day or on the following business day.
Loan terms vary, but you’ll usually have to pay off your payday loan once you receive your next paycheck. You are able to apply with bad credit, but it’s not guaranteed that you’ll get approved.
Get Started With An Alabama Payday Loan Today!
When life hits you unexpectedly and leaves you with an unwanted bill, a loan might be an option to help you recover your financial stability.
Whether you need the money to cover sudden medical emergencies or just a quick car tune-up, a payday loan in Alabama can help you out when you’re in a pinch and need some fast extra cash on hand.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.