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Payday Loans in Connecticut

Feeling stressed out by financial troubles is one of the most common problems of the 21st century? Unexpected expenses may catch us off-guard, whether costly healthcare expenses, emergency home repair, or unpaid taxes/bills. Actually, the reasons we suffer from the economic crisis differ for all of us; however, solutions to financial troubles are almost the same. 
Fortunately, today overcoming monetary troubles are easy by taking out extra advances. However, if you hold a bad credit score lower than 579 (FICO score), it may be difficult to pick up a loan. Applying for a bad credit loan, also known as a payday loan, maybe the best way to get you out of financial troubles.

Let's Define Payday Loans

Payday loans, otherwise known as cash advances or ACE express, are short-term borrowings designed to help you overcome immediate expenses. You can make use of payday advances for whatever purpose you want, whether to pay off your overdue bill or buy something valuable. Take into consideration that these loans are meant to be exclusively short-term financial relief due unit your next payday.  
LoanPlaces has simplified the process of getting cash loans online. It's fast and easy to get extra funding directly from third-party lenders. To get started, just fill out your online application: the process of forwarding your credit request to multiple lenders may take a few minutes. The best news is that you can obtain up to $2500 payday advances through a simple online application. 

What does Payday Processing Look Like? 

By submitting your credit request, you obtain an opportunity to work with a huge host of payday lenders available through our network. As soon as you qualify for a payday loan, you can get your money directly sent into your bank account electronically. Such practice allows you to apply from wherever you want, and it eliminates check-cashing fees as you get your cash through direct deposit. 
We strongly advise our customers to check out minimum requirements before submitting a credit application. In general, eligibility criteria are common to all lenders, but they also may vary by lender. Thus reviewing credit terms is highly important to know what legal obligations you have dressed up in your credit agreement. 

Is Bad Credit a Problem?

A credit check, also known as credit pull, is something that a lender carries out to check your credibility based on your past behavior. Most traditional lenders may consider you as risky if you have bad credit, thus reject your credit request. 
Unlike traditional practice, our lenders refrain from employing hard credit pulls while assessing your financial health. Thus having a perfect credit history is not mandatory to qualify for a payday loan. 
Essential note: It's always a good idea to initiate credit repair. Take advantage of credit counseling or do it by yourself. Maintaining a good credit score may help you be a compatible borrower and get the most reasonable rates in the market. 

As a result of changes CFPB has made, from July 2020 the lenders don't have to check if the borrower is able to repay the loan. Thus, we encourage you to be careful and make sure you can afford the loan before applying.

Regulations of Payday Loans in Connecticut
Status     Prohibited
Annual Percentage Rate (APR)     N/A
Minimum Loan Amount     N/A
Maximum Loan Amount     N/A
Minimum Loan Term     N/A
Maximum Loan Term     N/A
Number of Rollovers Allowed     N/A
Finance Charges     N/A
Cooling-off Period     N/A

Useful Sources

Real interest rate map /PDF/ of payday loans in the United States calculated on a typical loan.

Payday loans regulation /PDF/ by state 2020.

Learn about payday loan history in the USA here.
The Consumer Financial Protection Bureau (CFPB) makes the financial marketplace work more effectively and educates consumers to help them take more control over their financial lives. Click here to learn more.
The General Statute of Connecticut 36a-563 et seq. establishes a cap of 12% on all small loans, making payday loans illegal.

[ Updated on 22-Jan-2021, 02:24 ]

We've been in the industry for more than six years.