requirements for bad credit loan

What Are The Requirements To Get A Payday Loan For Bad Credit?

Thinking about getting a payday loan for bad credit? The good news is that such loans are generally available to anyone with a source of income, so even if your credit score is less-than-perfect, you may be able to qualify.

Below you will find out what documents you are going to need to apply, how to figure out the loan amount that you qualify for, and a lot more.

Basic Requirements For A Payday Loan For Bad Credit

Around 12 million Americans use payday loans each year. Furthermore, such loans are accessible to people with poor credit and they typically do not require a credit check.

Payday loans are short-term loans that are typically repaid with your next paycheck. This means that it can take you only a few weeks to pay off the loan completely.

get payday loans for bad credit

It is a quick and relatively easy way to receive emergency cash. Even individuals with bad credit might qualify without facing any challenges as one of the main things that the lender will take into consideration is whether or not you have a job.

So, the most basic requirements for a payday loan include a source of income, valid photo identification, and a blank check from an active checking account. Of course, you must also be over 18, in order to qualify for the loan.

How Does A Payday Loan For Bad Credit Work?

One of the main benefits of payday loans is that they can be approved quickly. It wouldn’t take you months or years to pay the money back either. Once you receive your next paycheck, you will have a chance to return what you have borrowed. In fact, the majority of payday loans are extended for only a few weeks.

You won’t be able to borrow too much money with a payday loan. It is designed for individuals who need to cover small urgent bills before their next paycheck. 

Loan amounts can vary from $50 to $1000; the exact number would depend on the state you live in, how much you earn, and the lender. With Utah Title Loans, Inc., for example, you can get up to $500.

How To Apply For A Payday Loan For Bad Credit

The payday loan process is extremely simple and quick. In fact, you can initiate it online from the comfort of your own home.

Here’s an easy-to-follow step-by-step guide:

  1. Instead of driving to the nearest Utah Title Loans, Inc. location, you can choose to submit your basic information online (like your name, email address, phone number, and zip code).
  2. A company representative will soon call you to verify your information, answer your questions, and invite you to the closest store.
  3. The rest of the process will take place in the store, but don’t worry, you wouldn’t have to spend hours driving around the city. The company has plenty of offices all across the state, so there is a chance that the nearest store is located only a short drive away from your house.
  4. As soon as you arrive at the store with all the necessary documents (your government-issued ID or driver’s license, most recent pay stub, and a blank check from an active checking account), one of the staff members will guide you through the payday loan process. Once all of your questions are answered, you would be asked to sign your paperwork – and that’s it!
  5. The in-person process can take about 30 minutes, and if your loan gets approved, you might be able to get your hands on the emergency cash the very same day or the following business day.

payday loan approval


How Much Can I Qualify For?

In the state of Utah, you can qualify for anywhere between $100 and $500.

How Long Does The Approval Process Take?

It can take you only a few minutes to complete the online form. And you might end up spending just 30 minutes in the store.

Can I Apply Online?

You can provide your basic information online to speed up the process of getting a payday loan for bad credit, but the main portion of the application takes place in-store.

Can I Apply If I Got Turned Down By Other Lenders?

If you got turned down by other lenders because of bad credit, it won’t necessarily stop you from getting a payday loan from Utah Title Loans, Inc.

Get Your Payday Loan Today!

No need to wait for your next paycheck to take care of an urgent medical bill or unexpected travel expenses. A payday loan for bad credit allows you to avoid pausing your life and living in constant stress.

By providing only your ID, pay stub, and a blank check, you will get a chance of receiving the money you need from Utah Title Loans, Inc. Fill out the online form and wait for a loan representative to call you back. Getting started is as simple as that!

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

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.