About 40 percent of Americans can’t cover a $400 unexpected expense without selling something or borrowing money, says a report from the Federal Reserve Board. Payday lenders in Denver give quick cash—even to those with bad credit. These loans borrow against your next paycheck, so proof of income and employment is required.
It's never fun to be in a situation where you don't have enough money to cover your bills. For a long-term fix and payday loan alternatives, you can create and stick to a realistic budget every month and set up a savings account for emergencies. But when you're in a bind, payday loans can be a solution.
If you have bad credit you can still get a payday loan. To qualify for a payday loan, you'll need to complete an application. Once you receive a lending decision, you'll sign your payday loan documents. You'll receive your cash, and establish a payment plan to repay your debt plus interest and fees.
For example, if you borrow $100, you may be making six payments of $28.59, which would equal a total cost of $171.51. Payday lender rates vary, so be sure to understand all of the fees you'll need to pay back.
You cannot go to jail if you are unable to pay back your payday loan. But you will deal with debt collectors. If part of your agreement included giving your bank information, the lender may automatically deduct money right from your account. Be sure to understand what the consequences are for a missed or late payment.
Payday loan requirements in Denver often include:
Personal information, such as legal full name, Social Security number, phone number, home address and valid ID number
Banking information, such as checking account number
Proof of income
Information about employment, such as pay frequency, income amount and employer
Finally, many Denver payday loan lenders also offer convenient online loans for when you can't make it into a physical location.
Speedy Cash offers quick cash advances up to $400 when you’re in a bind. You can apply online or visit their locations in Denver and Lakewood. Denver customers raved about friendly customer service, a professional staff and quickly receiving their loan.
Loan Stop says they offer low rates on payday loans. You can apply for your payday loan online, but you do need to choose a location to pick up your cash and sign your documents. Local reviews say that the staff is personable and helpful.