Payday loans in Phenix City have evolved from a way to help those on temporary assignment to one that caters to the middle class. These days, these loans are taken out not so much as a short term loan but as a way of life for many of the citizens of Phenix City. The Phenix City Payday Loan and Itinerant Loans Company had seen an influx of customers in the last year or so. This steady increase of customers is what has helped the company stay in business for so long. For many customers, the convenience of payday loans makes them worth their money and their time.
Phenix City residents who live paycheck to paycheck have found payday loans to be an invaluable resource in times of emergencies. Not only are there many benefits to getting such a loan, but the speed in which they are granted is also exceptional. This allows those in need of fast cash to get it when they need it without the stress of searching for a personal loan. Some of the most common reasons that people turn to payday loans in Phenix City include;
There are several requirements for approval of the payday loans in Phenix City. These requirements vary by lending institution, but most require that borrowers be at least 18 years of age, employed in a position which they regularly perform, and have a checking account with a bank in the United States. Borrowers who meet these requirements and are approved for the loans will receive a check in the amount of the loan plus interest charged on the cash.
In order to get payday loans in Phenix City, one must fill out an application and provide documentation such as a bank statement, a pay stub, or a recent pay stub. Those who have not been employed in the United States are required to furnish verification of their monthly income. If no documentation is provided, the lending institution may request verification from another source. Individuals applying for these types of loans in Phenix City should also have proof of their residence. Applicants can expect the interest rate to be up to one hundred percent per year.
Payday loans in Phenix City can be obtained from a number of different payday lenders. Depending on the amount of money loaned, terms of repayment and other factors, these loans are available either in person, by phone, or online. Online applications can be filled out in a matter of minutes. In person applications should be accompanied by a complete application and all documents, as well as proof of employment. For cash advance loans, individuals are expected to supply the lender with both a pay stub and a voided check. These documents can be faxed to the payday loans office or mailed to the office.
Once approved for a payday loan, individuals are expected to return to the lending institution in the event of a late payment. The repayment terms will depend on the lender and the individual's ability to repay. Interest rates on payday loans in Phenix City can be up to twenty-five percent per month. Payday loans in Phenix City are not faxed but are electronically submitted. Payment is usually made via direct deposit into a bank account.
Payday loans in Phenix City do require that borrowers be 18 years of age or older and be employed or currently employed in a position that pays at least the minimum weekly wage. Individuals applying for these loans must fax or mail in a copy of their latest pay stub along with a current utility bill. Individuals are not required to provide references. To learn more about applying for these loans, click here.
Interested applicants can find information on payday loans in Phenix City by visiting the city's website. Payday lenders in the city can be found by searching the state's website. Borrowers can apply for a loan online or by visiting a storefront payday loans lender in the city. Both methods are quick and convenient ways to get the money that may be needed between paycheck cuts.
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