Injuries can leave you incapacitated and impact your ability to earn money. Although you receive disability benefits, they might not be sufficient to cover a financial emergency, such as medical bills, overdue rent, or home repairs. Loans for individuals on SSDI can assist when you face urgent expenses you cannot manage with your current income.
This guide from Cash Cow in Louisiana will explain what you need to know about getting payday loans on disability income. We’re here to help you understand how payday loans can work with disability benefits in Louisiana—what’s required, how it works, and your best options.
Can You Get A Payday Loan With Disability Benefits?
There is no simple answer to whether you can get a loan on social security. Each lender has different rules regarding the types of income they accept for a payday advance. Some may accept nontraditional income sources, while others will require a pay stub.
Some Cash Cow Louisiana stores may accept disability income such as SSDI, but policies can vary. Call your nearest store to confirm acceptance before applying.
For stores that accept these benefits, you need to ensure that the payments are consistent and reliable. Nontraditional income sources can be unpredictable, so you must receive a fixed amount on a regular schedule to qualify. If you are approved, you will have to repay the loan with your next Social Security payment.
What Items Will You Need To Qualify for Payday Loans?
If you call in and one of our stores accepts SSDI as proof of income, you must gather the other required items to get approved. Thankfully, these should be easy to find. Our straightforward requirements allow borrowers to get approved for payday advances in Louisiana without any hassle.
Here are the required items for payday loans in Louisiana:
- Your photo ID - You can use any state-issued photo ID (your driver’s license included) to verify your identity and to prove that you’re not a minor. You must be at least 18 years old to qualify.
- A blank check from an active checking account in your name - A check or authorization for electronic funds transfer allows the lender to facilitate automatic repayment. Sometimes, the company will automatically debit your account for the amount owed on the due date. However, the terms and conditions can vary, so make sure to get yourself familiar with those before signing any documents.
- Proof of income - Most borrowers would usually provide their most recent pay stub to prove that they have a stable income and can repay the loan. However, you can also provide documents showing that you receive disability benefits. Bring a benefits letter from the SSA or recent bank statements showing Social Security deposits.
As you can see, none of the required items necessitate proof of your creditworthiness. You can get approved for a cash advance in Louisiana regardless of your credit score. If you possess the abovementioned items, you can begin the Louisiana payday loan process today.
What Is The Approval Process For Louisiana Payday Loans?
Before starting the process, make sure to call the nearest Louisiana store location to check if they accept disability benefits as proof of income. If they do, you can begin the process today and get approved in just a few steps. You can receive same-day approval after a 30-minute in-person process.
The following are the steps involved in getting Louisiana payday loans:
- Submit your name, zip code, and contact information through our online loan form
- Discuss payday loan terms with a representative over the phone
- Bring your required items to the closest Louisiana store location
- Get your requirements verified in person
- Complete the process by signing the loan agreement
- Receive your emergency funds within one business day
Loan Alternatives For People On SSDI
Not every store accepts SSDI as proof of income, so it’s crucial to understand potential alternatives. If you’re facing an emergency and SSDI isn’t enough, we understand how stressful it can be. Let’s look at other options, like title loans, that may offer more support.
A title loan is a secured loan that uses your lien-free car title as collateral. You must fully own your vehicle, having paid it off completely. You can only get approved if your title is for a car, truck, or van—not motorcycles, RVs, or other vehicles. We will place a lien on your car, enabling you to access emergency cash. You can borrow up to $1,400 based on your vehicle's value.
Here are the items you will need to get approved for a Louisiana title loan:
- A state-issued photo ID displaying your full name and age
- A lien-free vehicle title in your name
- Your vehicle for a quick inspection
The approval process for title loans resembles that of payday loans. You will need to undergo an additional vehicle inspection to assess your car's value. Title loans provide a higher loan amount alternative if you cannot get approved for payday loans with disability benefits.
Why Choose Cash Cow In Louisiana For Payday Loans?
Your path to an urgent financial boost starts with the choice of a reputable lender. Cash Cow in Louisiana has decades of experience helping residents with our fast approval process and excellent customer service. If you need a cash advance or title loan, we can help with our appealing terms and fast approval process!
Learn more about how Cash Cow in Louisiana can help you below:
- Our company has over 30 years of experience - We understand how difficult it can be to borrow money from a psychological perspective. We have tried to make sure that the whole process is completely stress-free. All of our friendly professionals will be treating you with respect and dignity. We also believe there is no such thing as a silly question, and we would be happy to tell you everything you need to know about the process.
- We have over 43 store locations - The process can’t be fully completed online. At one point, you would have to come to an appointment at one of our stores, but no need to worry. We have plenty of locations across the state, and the chances are high that you’d be able to arrive at the closest one in the shortest timeframe.
- Good credit is not a requirement - You might qualify even with bad credit or no credit at all. As a payday loan is a short-term loan, your credit score won’t play the main role when the lender determines whether you qualify for approval.
- The process can take only 30 minutes - You might find out if you qualify in only about half an hour after arriving at the store. If you complete the process early enough, you might receive the cash the very same day.
Get A Payday Loan Today – Borrow Up To $300!
Need emergency financial relief today? Apply for a payday loan at Cash Cow in Louisiana. The process takes less than 30 minutes and allows you to access emergency cash the same day you apply. Ready to begin the process? Fill out our online form and hear from one of our loan representatives over the phone. Borrow up to $300 with a Louisiana cash advance today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
