30 Day Payday Loans, Are They Possible?

Categorized: Cash Advance, No Credit Checks, Payday Loans | No comments

It is true that most payday loans are set up on a 14-day turnaround time for repaying the loan, however, in uncommon cases, such as folks who are only paid on a monthly basis; there is such a thing as a 30 day payday loan. These loans can be a real lifesaver when you need cash quick but have no access to extra funds.

Keep in mind that if you have a job or other source of income through disability payments or unemployment checks, that provide payment on a weekly or bi-weekly basis you are not automatically eligible for a 30 day loan. If you find that you need to have a full month to repay the funds you could apply for an extension but take into account that there will be fees associated with the privilege of extending the loan to a full 30 days.

Most anyone can apply for a payday loan if he or she is the minimum 18 years of age, a U.S. Citizen, have a steady job, or can prove that they receive a steady form of payment, and have a checking account. If no checking account is available, some lenders will settle for a savings account. One positive is that most payday advance loans do not run a credit check. This is one reason these types of loans are popular with folks who, unfortunately, have less than perfect credit.

Loan amounts that can be requested vary from state to state. For example, in the state of South Carolina the maximum amount you can borrow at one time is $600. Also important to know is, legally, how many cash advance payday loans you may have outstanding at one time. Some states only allow you to have one payday loan at a time with a “cooling off” period of a few days in between loans. Not all states have the same rules and regulations so do your homework before setting out to secure the loan.

A great place to do your homework is right online. Especially if you are new to payday loans, it is best to know all the policies and procedures before going to a loan store. Another excellent way to apply for a loan is through an online lender. If you choose to apply for the loan online, be sure only to use a credible lender and not a third-party vendor acting as a front for a reputable lending company. The same brick and mortar companies that you could visit around town also have websites where you can do the loan process right over the computer.

30 day payday loans are possible but bear in mind that there are a few criteria that must be met, the most important being that you are only paid on a monthly basis, anything else, and you are only eligible for an extension.


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