How To Find A Trusted Payday Advance Lender
October 19, 2021 | Louis Tully
If you're searching for a payday advance lender, time probably isn't on your side. However, we urge you to spend a moment considering how to find the best vendor, so you don't get caught in a complicated financial situation. And the tips below will help you with that.
Useful Tips On How to Find The Best Payday Advance Lender
1. Ensure They're Transparent About Fees
Sometimes, vendors like to put important information about extra charges in the small print. While it shouldn't be allowed, a few unscrupulous lenders still partake in this practice. However, legitimate lenders are more than happy to discuss their fees (if there are any) openly.
2. Make Sure They're Licensed to Work In Your State
As you probably know, there are literally hundreds of direct payday advance lenders to choose from. Unfortunately, this makes it even easier to pick an illegitimate vendor. Thankfully, there is a foolproof way of checking whether the lender you wish to work with is safe. To be 100% sure you're working with a viable lender, check the state’s business bureau to see if the chosen lender maintains a current registration.
In Louisiana, payday advance lenders must obtain a license from the Louisiana Office of Financial Institutions, otherwise called the OFI. There's a page of Active Payday Licensees online that makes it even easier to check whether your potential lender is official.
3. Know The Requirements Beforehand
Finding the best payday advance lender is hard if you're unsure about the basic requirements. All lenders must comply with basic state payday loan regulations. Therefore, they all have the same, if not very similar, requirements.
As far as loans go, the criteria are very limited, which makes it easier to qualify and get approved. The documents you'll need and the requirements are listed below:
- Your most recent pay stub
- Your driver’s license or government-issued photo ID
- A blank check from your active checking account in your name
- You must be at least 18 years old
What About Credit Scores?
Many people believe they can't access any funding with a less-than-average credit rating. But that isn't the case with payday loans. Trusted payday advance lenders, like Cash Cow, accept all kinds of credit situations – good or bad.
It is important, though, to ensure that you can repay the borrowed amount before you take out your loan. As lenders in Louisiana are not required to check your ability to pay it back, you need to make sure you have enough disposable income for the new (admittedly, very short-term) financial obligation.
4. Do Your Research
People are usually pretty open about sharing their experiences with payday lenders — both the good and the bad. The ultimate way to determine whether the chosen lender can be trusted is to read reviews about them posted on independent reviewing sites.
5. Understand The Payday Loan Process
Once you've done your research and considered the rest of our tips, it's time to get to grips with the process. Of course, the process of getting Louisiana payday loans may vary depending on the lender. But one thing they should have in common is the ease and speed at which you can complete it. We encourage you to take a look at our procedure in the next section. It'll give you a good indication as to how simple it should be.
How To Get A Payday Advance From Us At Cash Cow
By now, you may well be wondering about how you can get a payday loan from Cash Cow, a trusted payday advance lender. There are only five steps, as you'll see below:
- Contact your nearest Cash Cow storefront via phone or fill in the online form to get started.
- Wait for one of our loan experts to get in touch. It should only take a few minutes after you submit the form. They’ll call to tell you about the documents you need, the whole process, and to give answers to your questions.
- After the phone conversation, go to your nearest Cash Cow location with your government-issued photo identification, most recent pay stub, and a blank check from a checking account in your name.
- Once we have confirmed your required items, one of our loan associates will walk you through the rest of the simple process. You need to supply your signature in the appropriate places to confirm your agreement.
- Receive your much-needed cash in as little as half an hour!
Choose Cash Cow For Your Payday Advance Lender!
Not every payday advance lender is out to get you. Some of them, like Cash Cow, are reliable, trustworthy, and transparent. If you do, however, still have concerns, don't hesitate to give us a call to clear your worries up. And whenever you’re ready to get started with payday loans in Louisiana, submit a short inquiry form on our website.