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Don’t Be Fooled By The “Experts”. Here Are The Facts About Payday Loans

When it comes to payday loans in Louisiana, you’ll find a lot of information on the internet that may seem very confusing and contradicting. But I am here to give you nothing but the facts you need to decide whether a payday loan will help you out or not. There is a lot you need to get straight before you can even decide if you want this kind of loan. From how we go about our approval process to how your payday loan can help you out, there is plenty to learn. The first thing you should know is a payday loan would be considered a type of unsecured loan because you do not need to use anything for collateral – unlike things like title loans that require you using your vehicle’s title for cash. And there is plenty more clear information that you can read about right here.

The True Facts About Payday Loans You Need To Know

You Can Qualify For Anything Between $100 - $300

Like I said, payday loans are a type of unsecured loan that you get when you are in between paychecks and need emergency cash quickly. With a payday loan you can qualify for anything between $100 - $300 to help when you really need it. So I definitely recommend you not get this loan just because; you should only get it when you are in a situation that cannot wait for your next paycheck. This should be especially the case because you have to repay this loan when your next paycheck hits; so you want to make sure you get it only when you need it so you can repay it quickly and not have it tighten your finances.

If you don’t quite understand when you’d use this loan, its easy. This loan would be used for situations like your air conditioner suddenly breaks and you need to fix it right away, or your vehicle is in a fender bender and you need to repair it. You can also use it when you are short on paying a late bill and really don’t want it to affect your credit even more. These are the type of situations you’d use a payday loan for.

It Is Quick And Simple To Go Through The Process

Going through our process to see if you are approved is very easy and quick. It all starts with you filling out our small online form with some basic information. Once you submit the form you will receive a phone call from one of our loan representatives who will answer any questions you may have, tell you the next steps, inform you on what you have to bring in with you, and direct you to the nearest Cash Cow location to you. Once you are off the phone then you can make your way down to our store and finish the process. We will see if we can approve you, look at your necessary documents, tell you how much you qualify for if you are approved, and finish off with some paperwork.

Like I said, there are some necessary documents you have to bring in with you when you come in. We don’t require you to bring too many things or anything that is too difficult to gather up and carry around. We just require you to bring in three small things. Once we have checked those things and, hopefully, approve you, it can take 30 short minutes for you to leave here with the cash you need. That is why those items are important. The necessary items you need to bring in are:

  • Your government issued photo ID
  • Your most recent pay stub
  • A blank check from an open checking account in your name

Your Credit Won’t Automatically Disqualify You

When it comes to bad credit, we all know what a pain it is and how much that little number can stop us from getting a lot of things. One of those things are bank loans. When the bank sees your low credit score, that makes them weary of lending you any amount of money because they feel your chances of being able to pay them back are minimal. And even if they don’t automatically turn you away, your poor credit score could add in some pesky hurdles. Unlike traditional bank loans, a poor credit score won’t affect your chances of getting approved. We want to help you out so we will welcome you regardless of what you credit looks like.

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Now You Know Everything You Need To About Payday Loans

With all this information, you now know the real facts about payday loans in order to make an informed decision. Whether it is because of our simple and quick process, the fact that your poor credit doesn’t automatically turn you away, or the many ways you can use a payday loan, there are plenty of reasons why someone would choose to get one. And if you are in need of a little more cash for a bigger emergency cost then you should also know you can get a title loan where you can qualify for anything between $300 - $1,400 to help you out in unexpected emergencies. So look for loan places in New Orleans or anywhere else in Louisiana for the quick cash you need.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.