Emergencies are exactly what they are- emergencies. They include medical bills or repairs of any kind. These are mostly unplanned and can require quick cash to handle effectively. Fortunately, online payday loans are readily available 24/7. The good part is that you don’t have to worry about providing different documents and requirements.
Are Payday Loans Permitted In Kansas?
Online payday loans are permitted in Kansas. But, there are factors you must bear in mind:
- The loan amount cannot exceed $500
- The loan term is between 7-30 days.
- A lender can only give you a loan on two occasions.
- Lenders are not permitted to give debtors more than three loans in the space of 30 days.
- The finance charge of the loan amount is estimated at 15%.
- After the maturity date for the loan, late charges are 3% for a month.
- Non-sufficient funds attract $30
- Lenders cannot carry out criminal actions against borrowers.
What Are the Requirements For Online Payday Loans in Kansas?
It is easy to apply for an online payday loan in Kansas but you must meet the following criteria:
- You must be a resident of Kansas. This should be backed up with proof of residence such as a government-issued ID.
- You must be 18 years and above.
- You must have an account that is functioning.
- You must be able to provide proof of income
- Your personal information is also required by the lender. These include your contact information, email address ad social security number.
How To Identify A Reliable Online Payday Lender In Kansas
There will always be lots of payday loan providers in Kansas. But, not all glitters are gold. As such, you must be careful in making a decision so that you don’t incur hidden charges.
If you want to get reliable online payday lenders in Kansas, look out for the following factors:
- Choose a lender that presents the entire conditions of the loan including interest, fees, and terms of the agreement. Any lender who doesn’t disclose this information may be hiding charges from you. Pay attention to this information when they make an advert.
- Find out if they offer a variety of services. In most cases, lenders who offer different services to their customers are more reliable.
- Pay attention to the license of the lender. This will help the law protect you when the lender wants to impose excessive interest rates on you.
- Reliable lenders don’t give out multiple loans to an individual. Trusted lenders know that a borrower is entitled to only one loan from a lender.
- An effective customer care department is in place to attend to all your inquiries and complaints and provide the best service.
Most times, it is always cumbersome to source money to take care of your bills and unplanned expenses. This is because the traditional bank system takes a longer time to process loans. However online payday loans make it easier and faster for people to access loans.