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Payday Loans Virginia - Direct Lenders

Temporary financial troubles are no longer a reason to worry, because payday loans Virginia can support you and help you solve them in no time. Easy, quick, and convenient online application for loans is your opportunity to solve urgent needs without asking your close people for help. You can file an application for paychecks cash advance on our website Express-Cash.Biz and get the needed funds within a day. We cooperate only with reliable lenders, whose activity in the state of Virginia is legal.

Virginia Payday Loans, Flex Loans Virginia

All the money-lending companies providing their services on the territory of the state and to the citizens of Virginia are licensed with Virginia State Corporation Commission. In fact, Virginia is one of those states where the payday loan customer is quite well protected. Therefore, your payday cash advance is a safe method of dealing with unexpected monetary expenses.

What Should You Know about a Payday Loan?

Payday loans have different names. Some people call them payday cash advance, others – a short-term credit, yet it doesn't change the essence of it. Payday loans VA are credit funds provided for a limited period of time. The moneylenders offering this kind of financial assistance usually set minimum requirements for their potential borrowers, thus attracting more people to use their services.

The person opting for a cash advance in Virginia should comply with certain requirements. First of all, they have to be permanent US citizens.

To get the funds on terms set by the state of Virginia, these people have to be the residents of the state and have valid documents (ID/driving license) issued by the state official body. Payday loans are only available for the customers who have reached the age of majority, which is 18 years old in Virginia. To be able to obtain the credit funds, a client needs to have an active bank account opened in his/her name. Besides, to help the communication between the borrower and the lender, the former needs to have a personal phone number and a valid email address.

As for the other requirements, they are associated with a person's employment. The direct online loan cannot be issued to a customer who doesn't have a regular and legal source of income. It is best when you are employed with the same company for the period exceeding 90 days.

VA Application Form Details

In case you are sure that you match as a payday loan borrower, you need to fill out a loan application form on Express-Cash.Biz. The document consists of three blocks. The first one collects your personal information, including home address, name, and date of birth. The second one is concentrated on the employment details like the employer name, job position, term of being employed, income amount, and the nearest payday date. Finally, you will have to complete the questions regarding your bank and bank account, as well as your credit score.

Cash Advance Loans, Online Loan Application

The time needed for the lenders to approve your request is usually less than 30 minutes. Notice that you won't get the money until you sign a loan agreement with the lender. You'll receive this document to the email. Besides, you'll be noted about the loan approval via a phone call or a message. To check if the loan terms are acceptable for you and read through the agreement text, and if any questions appear, contact your loaner for detail. When you accept the rules and requirements stated in the document, you need to sign it online with an e-signature. Since this moment, you should wait for the money to credit your bank account. It shouldn't take more than one business day to receive the cash.

Virginia Payday Cash Advance Terms

The payday loan laws in Virginia regulate the activity of the payday lenders and set limits both for the amount of money one can obtain from such services and for the term for using the cash. As for the sum of money payday cash borrowers can count on, it is limited to $500. The smallest sum is not stated in the law; therefore, it is up to the loaner to decide what the minimum and maximum they can offer is. The period for using the cash loans in VA is tied to the borrower's payday. According to the legal regulations, the loan duration period should be not less than two pay periods. It means that if you get paid every week, the minimum term for you to take the loans for is 14 days. Being paid once a month, this period increases to 60 – 62 days.

As for the fees the customer has to pay to the lender, they are 36% of annual percentage rates (though, based on the information provided by the Center for Responsible Lending, the APR can reach 254% in Virginia), up to 20% of the obtained cash amount as a loan fee, and not more than $5 of the verification fee.

Neither rollovers, nor payday loan extensions are allowed in Virginia institutions. However, the customers can ask for repaying the loans by the extended payment plan. This service can only be used once in a 12-months period. This plan is also available for the clients applying for the fifth loan within 180 days in case they still haven't used such a possibility within a year.

In the state of Virginia, only one payday loan at a time is allowed. It is impossible to trick the lenders in this regard as they are obliged to check every applicant in a special database where the information about all the borrowers is placed.

Payday Loans for the Military in Virginia

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In many states, payday loans are allowed for the military on condition that the APR is not higher than 36%. But it is prohibited to provide cash advance loans in Virginia to the military, as well as their spouses and children under the age of 18 or children who have been in the financial care of their military parents within 180 days prior to asking for a cash loan.

Loan Repayment in Virginia

The bulk of US states allow loan repayment by means of debiting the loan amount in full from the customer's bank account. On the contrary, payday loans in Virginia can be repaid only by providing a post-dated check to the lender bureau. The state prohibits the lenders to electronically withdraw the deposit from the borrower's bank accounts.

The clients of the money-lending companies can also repay their debt by making partial payments not more than $5 per day before their loan due date comes. Such payments are not charged with penalties for preterm cash advance repayment.

In case the borrower cannot pay the loan back on the due date, he/she can ask for getting on an alternative such as an extended loan repayment plan. It presupposes covering the debt in at least four equal installments within the term not less than 60 days. Those who are late with their loan repayment are charged with interest fees up to 6% per year.

Cancelling the Loan in Virginia

Prior to getting cash loans in Virginia, it is crucial to weigh and find all the pros and cons of your decision. Some people apply for fast credits on emotion and understand that they've made a mistake only after they receive the bills. The laws on payday loans in VA allow the customers to change their mind and cancel the loan the same day or before the close of the business day following payday loan crediting to the borrower's account. The money can be returned to the creditor in cash, cashier's check, certified check, or in other ways acceptable for the lender.

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VA Loan Cooling-off Periods

The customers of payday lending companies may get a quick loan refusal in case they are on a cooling-off period. This term differs for the borrowers depending on the number of payday loans they have already taken within a 12-months period, their being on the extended loan repayment plan, and the date of their paying back the previous cash advance. Let's stop on the cooling-off periods in details:

  • A 24-hour cooling-off period is needed for a customer who has repaid the cash advance in full within the terms determined by the loan agreement.

  • 45 days is the cooling-off period required for the borrowers who have taken five consecutive loans within 180 days.

  • 90 days cooling-off period is for those who have repaid the payday cash loan on the terms of the extended payment loan plan.

Cash Advance VA. Reasons to Apply

Urgency is the main thing that makes people obtain cash loans. Thanks to the application process, which goes online, the borrowers can get the needed funds no matter where they are. Staying in a hospital or working a full-time job, you always have the possibility to apply for fast credit. Online loans require only basic documents (ID or driving license). You may also be asked to provide a fax copy of the recent utility bill or bank account statement, but anyway, it all can be done remotely. Besides, for online payday loans in VA, your credit history is not the thing that matters because the main one is getting you out of financial trouble.

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Frequently Ask Questions

How many consecutive loans can I take?

The number of loans one can obtain with a 24-hour cooling-off period is five. To get the sixth consecutive loan, you have to wait for 45 days.

Is it legal to apply for online loans in Virginia?

Yes. However, the lender offering the services online needs to have physical locations on the territory of the state or get a special license for online lenders.

Can I get payday loans if my father is a military?

Yes. To be eligible for getting a cash advance, you need to be older than 18. Besides, you are to be financially independent of your parents for at least 180 days prior to applying for a fast credit.

What is the shortest term for using payday loans?

The laws of Virginia claim that the minimum term for cash advance use depends on how you are paid. The period of your using the cash should last not less than for two pay periods of the borrower. So if you are paid daily, your minimum loan term is 2 days. If your approved payday comes once a week, you can use the loan for at least 14 days, and so on.

Can I take a new credit if I have an outstanding cash loan?

No. It is prohibited to have more than one outstanding payday cash advance in Virginia.

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