Find the Best Payday Loan Lenders in Denver, CO

Payday lending is illegal and unavailable to consumers in some states. Payday loans usually have very high interest rates and carry risk. As with any loan, consumers should have a clear understanding of the fees, terms and conditions of any payday loan before borrowing.

How to get a payday loan in Denver

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.

Payday loans aren't legal in some states. Payday loans are legal in Colorado, but have limitations. The maximum loan amount is $500 with a loan term of six months.

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.