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Payday Loans Online Alabama

We’ve all experienced being in desperate need of cash, an emergency loan. Anyone can find themselves in a situation where they need money right now without long delays like traditional lenders have. You can get an Alabama Payday loan near you quickly with CashinaMoment.

Let’s look at what payday loans are and how they work. Payday loans are defined in a variety of ways. Most of the time, these are short-term loans offered by lenders (until your next paycheck). Depending on the state, the amount of cash you can receive varies between $30 and $1,000 in most states. Each state regulates payday loans, so laws and regulations vary.

Why Use CashinaMoment for Payday Loans in Alabama?

If you need money quickly, but your next paycheck is not soon enough, you can find an online payday loan lender with CashinaMoment. We all find ourselves short of cash from time to time, and CashinaMoment is here to help you when you need it most. Get a fast and efficient payday loan from anywhere in Alabama. Submit your loan request today and get a decision in 90 seconds or less.

How Does an Alabama Payday Loan work?

We simplified the process for Alabama payday loans. Request your payday loan online in minutes, without driving around, tons of paperwork, and long waits.

  • Easy, secure form to complete
  • Fast Decision in 90 seconds or less
  • Get your Money in 1 business day if approved
  • Repay your loan when it is due.

Eligibility Criteria for Alabama Payday Loans

Eligibility for a payday loan does vary by state, but Alabama is very similar to most states. Ask your lender if you have any questions. Here are some of the basic criteria for getting payday loans in Alabama:

  • You must be 18 years of age or older
  • You must be a citizen or legal resident residing in Alabama
  • You must have a current income, preferably $1200 a month or more
  • You must have an active checking account
  • You must have a current phone number and email address.

Reasons You Might Need an Alabama Online Payday Loan

  • Your bank or credit union will not give you a loan
  • You cannot get a bank loan or modify your mortgage loan
  • You do not have enough money to pay your rent, utilities, bills, or groceries

You may not know it, but almost 70% of Americans use small cash advances for everyday needs.

How CashinaMoment Can Help If Your Credit Card Payment Is Due or Overdue?

You are familiar with the process credit card companies use to collect debts if you miss a payment. They call you up to five times per day, send threatening letters, and harass you until you pay the debt.

CashinaMoment can help you if you are fed up with collectors calling you five times a day and sending threatening letters until you pay the debt.

A Short-term Cash Advance May Be an Answer

There are certain circumstances where a payday loan can help you:

  • You can’t borrow money from family and friends

    Sometimes family or friends are not an available source for a quick loan. You may have already used them before, and they are reluctant to help at this time.

  • It is important to pay off a debt

    Missing it can lead to severe financial consequences. If you fail to make your payments, you could face significant penalties and even lose some of your possessions depending on your agreement with other lenders.

Getting a Payday Loan in Alabama at CashinaMoment

Here are some benefits of choosing CashinaMoment:

  • Simple, secure, and quick forms

    Large lenders have a problem with the amount of time it takes to process a loan. When every second counts, it is not a good idea to waste time filling out a complicated loan application and waiting weeks or more for an answer. Our easy process makes it possible to apply in just two to five minutes.

  • Rapid approval or answer

    Because we process in milliseconds, you get an answer in 90 seconds or less. If approved, you will get the funds deposited into your bank account within one business day. Lenders use your bank account information to expedite the process, regardless of where you live. Some small banks may take an extra day to process, but lenders cannot control this.

    Once your loan agreement has been signed and the transaction initiated, the cash will be transferred to your account within one business day. Unfortunately, lenders are not able to transfer funds immediately due to processing time.

  • You can apply on the go

    No more questions like, “Where can I find the best lender near my home?” Apply online for payday loans in Alabama from anywhere you are at. You only need a smartphone or pc with internet access.

Alabama Payday Loan Regulations

Legal Status Legal
Interest Rate (APR) 456%*
Maximum Loan Amount $500
Minimum Loan Term 10 days
Maximum Loan Term 31 days
Number of Rollovers 1
Number of Outstanding Loans None
Cooling-off Period Next business day after repayment
Installment As repayment plan: 4 equal installments
Finance Charges not more than 17.5% of the amount advanced
Statute of Limitations 6 years (from the last payment)
Database Loan Tracking Yes

What Are the Benefits of Alabama Payday Loans?

  • Fast cash loans when you need them most.
  • The money can be spent on anything you need.
  • There are no hard credit checks for loans.
  • Loans are easy to qualify for, even with poor credit.

Quick Facts: Payday Loans in Alabama

  • Legal Status: Legal in the state
  • Finance charge on a 14-day $100 loan: $17.50

Loans Terms:

  • Maximum loan amount: $500
  • Minimum length of loan: 10 days
  • Maximum length of loan: 31 days
  • Maximum Finance Rate and Fees: 17.5% and 3% per month after default

Collection Limits:

  • Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of the face amount of check
  • Criminal Action: Prohibited
  • Rollovers Permitted: One rollover is permitted

Debt Limits:

  • Maximum Number of Outstanding Loans at any time: One (max $ amount of loans at one time: $500.00)
  • Rollovers Permitted: One rollover permitted
  • Cooling-off Period: The next business day after you have repaid previous loans
  • Repayment Plans Allowed: Yes

Common Payday Loan Criteria in Alabama

While the eligibility criteria vary by lender, you typically need to meet the following basic requirements:

  • A steady source of income, preferably $1,200 or more per month,
  • You must be at least 19 years of age,
  • You must be a US citizen or permanent legal resident,
  • You must have an active checking account,
  • You must have an active phone number and email.

Are We Different from Other Payday Loan Providers in Alabama?

We have a trusted network of direct payday lenders who are licensed to do business in Alabama. All our lenders abide by the regulations set by the industry standards organization. CashinaMoment is not a lender but a referral service to direct lenders licensed in Alabama. Our loan request form is SSL secured which protects all your personal information and keeps transactions between you and your lender confidential.

Our lenders offer No Hard Credit Check Payday Loan as an option to people who can’t get access to traditional loans due to bad credit scores.

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FAQs - Alabama Payday Loans

The maximum amount for an Alabama payday loan is $500.

Payday loans in Alabama must fall between 10 and 31 days in duration.

An Alabama payday loan is due in full on the maturity date. Ask your lender if you have any questions about your loan status if you are approved.

Generally, the loan is repaid on the due date agreed upon between you and your lender, which falls within the state guidelines for loan length.

Alabama enacted legislation requiring all applicants for payday loans to be at least 19 years of age. Many states allow applicants to be 18 but not in Alabama.

No, you cannot get a loan if you are 18 years old in Alabama. Alabama regulations require you to be 19 years of age to request a payday or installment loan.

With payday loans, there is a grace period. To take advantage of this option, you must notify your lender in advance and discuss the options they can offer. Be aware there are usually additional fees when extending a loan past the due date. It is best to avoid this situation and make sure you can meet the repayment date as agreed upon in your loan agreement.

No. Payday loans are not available to non-Alabama residents. You can still apply for a cash advance if you live in Alabama.

Your loan will typically be due on your next pay date or the due date on your loan agreement.