How Do Payday Advance Loans Work In Utah?
As a Utah resident, you may have heard of payday loans and wonder exactly how do payday advance loans work? The answer is actually surprisingly simple thanks to their easy and fast in-person process that can take as little as thirty minutes to get through.
So, how do payday advance loans work exactly? Read on to learn the answer and get a better understanding of what a Utah payday loan is, how quick and easy the process can be, and what will be required on your part to get a payday advance loan in Utah.
What Is A Payday Advance Loan?
The very first part to learn how do payday advance loans work is to understand what they are. This form of loan is viewed as an advancement of your paycheck and as such, it is a short-term loan. Depending on the terms of your agreement, you will likely pay for it by your next payday.
This type of loan is meant to help address financial emergencies such as home or auto repairs, medical bills, important travel, or rent and utility bills that you would otherwise have the funds for come your next paycheck.
Now that you know what a payday advance loan is and what they are typically used for, let’s take a look at the process for obtaining one.
How Do Payday Advance Loans Work: Step-By-Step Guide
You will find that getting the process completed from start to finish is much simpler than you may have expected. In a few short steps, you can get a payday advance loan with very little hassle on your part, as most of the required paperwork is things you likely have readily on hand.
1. Fill Out And Submit An Online Form
To get the process started, you just need to fill out and submit an online payday loan form. The information from your online submission will then be received by a loan representative from the nearest location to you.
2. Answer Your Phone And Get Together The Necessary Paperwork
Once the representative receives your online submission they will call you within a few minutes, so be prepared to answer your phone!
The representative will go over the entire process of how to get a payday advance loan and what necessary paperwork they will need from you to qualify.
This will include the following items:
- A valid driver’s license or state-issued ID.
- Your most recent paystub.
- A blank check from an active checking account (this must be under your name).
Once the representative goes over what is needed on your part to obtain a payday loan, they can provide you with answers to any questions you may have about how payday loans work. So don’t be shy, ask away, and feel comfortable in your decision to continue the process.
3. Bring Required Documents To Nearest Store Location
Once you have all the required documents together, you will need to bring them to the location nearest you (which the representative will inform you of). This makes it quite convenient.
Once you are there, the rest of the loan process can take as little as thirty minutes to complete!
4. Finalize The Loan
Once you supply the representative with the required documents, they will determine if you qualify. The representative will go through the final paperwork with you if you do and give you another opportunity to ask any questions you may still have at this stage of the process.
5. Receive Your Payday Loan
If you are approved for the loan, you will generally receive the funds you qualified for on the same day or the next business day.
What Are The Benefits Of A Payday Advance Loan?
If you feel that a payday advance loan is the type of loan you are looking for in Utah, you will find that Utah Title Loans, Inc. offers its customers more than just title loans, but payday loans as well!
In fact, we:
- Offer customers anywhere from $100 to $500 in payday loans.
- Welcome all types of credit (Good and bad).
- Welcome all types of income (ex: employment checks, alimony, unemployment, social security checks, pension).
As long as you have the required documents and are 18 years of age or older, you have a chance to qualify for a payday loan in Utah at your local Utah Title Loans, Inc. location.
Submit An Online Inquiry Form With Utah Title Loans, Inc.
Now that we have gone over the basics and know how do payday advance loans work, you can find out if you can get approved for one today. Just fill out an online inquiry form with Utah Title Loans, Inc. to get the process started!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.