In this unpredictable environment, payday loans are a lifesaver. Consider this. One minute, you’re strolling through the beautiful streets of Virginia. Next thing? An unexpected health emergency has left you with an excessive number of medical costs. To avoid being crippled by this drastic life change, you could do with payday loans, capable of providing you with urgent cash to address your immediate needs.
When the balance in your account leaves you in shock, you can immediately receive a temporary loan with the payday loans option obtainable in VA to pay your rent and utility bills. You pay when your next paycheck arrives. Can you guess the best part? You don’t need to ask a buddy for the nearest payday loan lender. Simply go online, fill out the necessary information, proceed to submit the application for evaluation, and wait for approval. This should take no more than five minutes.
After your application has been approved, the lender will deposit the requested funds into your account safely. We promise not to ask you ridiculous questions if you apply for a payday loan through our website.
Loans Packages Available in Virginia
A payday loan is a temporal loan that provides a swift, dependable answer to your emergency money problems which include: unanticipated car problems, medical expenses, and unpaid rent. You can pay when you get your next paycheck, usually between 14 and 31 days. It makes no difference if your credit score is not great. The only thing payday loan lenders care about is whether you can pay back the loan.
|Minimum Loan Term||Two repayment periods|
|Maximum Loan Term||31 days|
|Maximum Annual Percentage Rates (APR)%||687.76%|
|Additional Fees||5% verification fee|
|Collateral or guarantor||None|
|Non-Sufficient Fund (NSF) Fees||$25|
|Number of Simultaneous Loans||1|
|Cooling-off Period||one day|
|Extension, repayment plan||One repayment plan in 4 equal installments for at least 60 days|
|Default Penalties||not stated|
|Credit Score Requirements||Unrestricted for bad credit|
An installment loan is a loan whereby you are handed a specific amount of money in exchange for a fixed monthly installment payment. The lender will predetermine the required number of payments necessary to repay the loan.
|Minimum Loan Amount||$1, 000|
|Maximum Loan Amount||$5, 000|
|Minimum Loan Term||90 days|
|Maximum Loan Term||36 months|
|Minimum Annual Percentage Rates (APR%)||6.63%|
|Collateral or Guarantor||None|
|Credit Score Requirements||Unrestrained for low credit score.|
This refers to loans repaid in monthly installments determined by the creditor. You can utilize this loan for virtually anything. You can use the money to go on a boat cruise, have fun, and advance your career.
|Loan Amount (Maximum)||$35,000|
|Minimum Loan Term||90 days|
|Maximum Loan Term||60 months/5 years|
|Minimum Annual Percentage Rates (APR%)||4.99%|
|Collateral or Guarantor||None|
|Credit Score Requirements||Accessible for low credit score|
How Legal is Online Payday Loan in VA?
The state of Virginia approves online payday loans. However, your eligibility must be intricately inspected through the Commonwealth of Virginia Short-Term Loan Database System. Also, like with the online space, the industry is filled with scammers. So, you must use a trusted site like ours to ensure that your information is safe and you are linked with an authorized creditor. We save you the stress of conducting deep research before taking out payday loans online.
What are the Payday Loans Alternatives in Virginia?
1. Cash advances
Also a temporary loan, cash advances are the easiest and fastest way to get money based on the balance on your credit card. Provided by credit card companies, cash advances interest rates can be fairly high if you possess an unsecured credit card.
2. Home equity loans
Although the interest on this type of loan is small, you would be requested to use your home as collateral. This puts your home at risk. Nonetheless, home equity loans are usually very high amounts with a fixed monthly installment plan and a longer repayment term.
3. Loan from loved ones
Who do we turn to in times of need when all sources fail? Our friends and family. You can borrow money from trusted friends and family members. The disadvantage of this loan type is that if you are unable to repay your loan on time, things can quickly spiral out of control. As a result, it is advisable to take only what you can afford.
How Online Payday Loans work in Virginia
To obtain a payday loan in VA,
- Visit a website like ours after ensuring you tick all the requirement boxes.
- Fill out the application form. You might find the link to this form at the top or bottom of the website’s page.
- Ensure that you provide ONLY the right information, as this application will be properly examined. Go through your application form and confirm that your SSN, email, and telephone number are correct. When you are confident that the data you provided is accurate, hit “submit.”
- After your application has been accepted, you will receive a message confirming that your application has been reviewed and approved.
- A loan agreement form will be sent to you. You can accept or decline the loan at this point. After you sign this agreement form, an authorized creditor with send the requested amount into your specified account.
- If your application was done during the early hours of the day, your money might be delivered within a couple of hours. If you apply on holidays or weekends, however, you will receive the money on the subsequent working day.
Requirements to Procure a Payday Loan in Virginia.
Before you can request an online payday loan in VA, you must:
- Be at least 18 years old as at last birthday.
- Present evidence of legal residency and provide your contact information.
- Have authorized savings or a checking account with direct deposit.
- Have a steady source of income with a monthly income of up to $1,000 at least.
- You’ll need a valid phone number and email address so that we may contact you if there is any emergency.
- Possess a valid Social Security Number (SSN)
A Perfect Illustration of a Payday Loan Fee.
How much will a $300 payday loan with a minimum of 14 days cost?
Annual Percentage Rate (APR%): 687.76%
Loan Obtained: $300
Finance charge (for 14 days):$26.38 * 3= $79.14
To return: $379.14
APR% Calculation= $79.14/14 days = 5.65/365 days
If you take out a $300 payday loan and don’t pay it back, you will owe $2,063.28 as interest on the original loan amount at the end of a year.
Can you get a payday loan in Virginia?
Of course, you can get a payday loan in VA.
Where can I borrow money in Virginia?
You can borrow money online on safe and reliable sites like ours.
How many payday loans can you have in Virginia?
At any given time, you can only have one payday loan. Virginia laws prohibit you from having more than one payday loan at a time.
Payday loans available online are a perfect choice if you regularly need money. They are ideal for resolving immediate or urgent expenses, and you can easily apply for them at your own convenience.