Get Approved Fast for Affordable Online Payday Loans in Utah

We Are Here for You When You Need Us

Hi guys! Randy, here from payday loans. If you are struggling to make it to your next paycheck, I just want to let you know that you are not alone. A little while ago, I was in your shoes.

I had a couple of surprise expenses, and I wasn’t sure how I was going to be able to cover them before my next paycheck. Boy, was I stressed! 

Luckily, the guys at Ready Payday Loans were there for me when I needed them most. They were able to help me get an affordable payday loan and deposit the money in my account the next day. Then I was able to pay them off with my next paycheck and got a nice little boost to my credit score. 

Everyone at Ready Payday Loans was so understanding and delivered on their promises. If you need Utah payday loans, emergency loans, or bad credit loans, fill out your online application today. 

What Exactly Is a Payday Loan?

In simple terms, a payday loan is a small short-term loan that can help you pay for unexpected expenses and emergencies that happen between paychecks. They are also sometimes called paycheck advances because you usually repay your loan once you get your next paycheck

How Is It Different Than Other Types of Loans?

Payday loans are unsecured, much like personal loans and even credit cards. This means that you don’t need collateral like you would with a pawn loan, home equity loan, or title loan. However, unlike most unsecured loans, you usually don’t need a credit check. 

Payday loans also have a much shorter repayment period, usually two weeks to a month. In many cases, you only need to make one payment. Sometimes, the term may be longer, and you may be able to make several payments. 

But I Live in Utah. What Do I Need to Know About Utah Payday Loans?

If you live in Utah, you are in luck. While each state has different rules and requirements, Utah has some of the best and least restrictive payday laws in the country, designed to protect both the lender and the borrower. Keep reading to learn more about payday loan rules in Utah.

How Much Money Can I Borrow?

Utah is one of a few states that does not have a limit on the amount you can borrow with a payday loan, though local and municipal laws may vary. However, it’s essential not to borrow more than you can afford to pay back.

What Can I Use the Money For?

One of the great things about payday loans in Utah is that you can use them to pay for anything you need to. This can be car repairs, groceries, medical expenses, and anything else. There are no restrictions on how you can spend the money.

What Is the Maximum Loan Term for Utah Payday Loans?

In Utah, payday loans cannot extend beyond ten weeks from when they originated. Even if you need to extend the loan, your lender is not allowed to roll over your payday loan beyond that ten-week period.

Wait, What if I Can’t Pay My Payday Loan Back

Of course, you should do everything possible to ensure you pay your loans back on time. However, the State of Utah provides you and your lender several options to ensure everyone is treated fairly. 

If you cannot pay your loan back on time, your lender can extend the term up to 10 weeks from the origination date. They can also offer to roll over the loan amount into a new loan as long as it does not exceed the ten-week limit. You may also request an interest-free Extended Payment Plan (EPP) once a year. If approved, the lender must give you at least four payments and 60 days to repay the loan. 

If you are having trouble making the payment, always reach out to your lender. Most lenders want to avoid sending your loan to collections or filing a civil lawsuit and may want to help you take advantage of other options allowed in Utah.

Who Is Responsible for Overseeing Payday Loans in Utah?

The Utah Department of Financial Institutions oversees all payday loans. If you are ever concerned about the validity of a payday lender in Utah, you can check with them to make sure the lender is licensed. At Ready Payday Loans, we only work with licensed lenders.

What Are My Rights as a Borrower in Utah?

When it comes to payday loans, Utah offers much more freedom than some other states. This allows you to take out more money and allows you more options to extend your loan. However, Utah also offers many protections for borrowers. Here are some rights you have under the law.

You Can Change Your Mind

Utah has a cooling-off period. If you change your mind before 5 pm the following business day, you can return your loan and not worry about being penalized.

You Can May Payments on Your Loans Without Penalties

Want to make payments towards your loan before it is due? You have the right to make payments in increments of $5 toward your loan with no penalty.

You Cannot Face Criminal Charges for Nonpayment

Ok, it stinks if you can’t pay back your loan, and your credit might take a hit, but you can’t go to jail in Utah for nonpayment. Your lender can, however, take you to civil court to collect what they are owed, so it’s still a good idea to work with the lender.

What About Online Payday Loans in Utah? Am I Still Protected?

Yes! Utah, as with most states, recognizes your rights as a borrower whether you get your loan online or in person. This allows you to get a loan even if you can’t get to an in-person location.

Wait, I Have Good Credit. Does a Payday Loan Still Make Sense for My Needs?

Well, it depends on your situation, but in many cases, the answer is still yes. While many people view them as loans for bad credit in Utah, that’s not always the case. Even if you have perfect credit, you still might benefit from a payday loan. Keep reading to learn more.

Perfect for Emergencies

Need money right away? Even if you could easily get approved for another unsecured loan, like a personal loan, you might have to wait weeks to hear from a lender. With a payday loan, we can get you approved right away and get you your cash in as little as 24 hours.

No Credit Check

If you have a perfect credit score, you can often get great rates on loans for large purchases like a home or car. However, when a lender checks your credit, it can lower your credit score, and those hard inquiries can remain on your credit score for up to two years. With a payday loan, there is no credit check.

Boost Your Credit

Payday loans can also boost your credit score by showing other lenders that you can commit to paying back the money you borrow. This makes them an excellent choice for people who have a steady income but who haven’t needed to borrow money in the past.

Well, That Sounds Great, but I Bet It’s Hard to Get a Payday Loan

Step 1: What You’ll Need

Actually, it’s not hard at all. All you need is a valid ID, checking account, proof of income, and contact information. You also need to be at least 18.

Step 2: Apply Online

Once you have everything you need, simply fill out our online application. It should only take about 5 minutes.

Step 3: Fast Approval

We can usually let you know within a few minutes whether or not we can approve your application. Then all you have to do is choose the loan that makes sense for you.

Step 4: Get Your Money

Once you have chosen your loan, we’ll process it and send your money to your account. You should get your money by the next business day.

Step 5: Pay Us Back

After you get your next paycheck, all you have to do is pay us back and be on your way. Apply online today to get fast cash.

How Much Do Utah Payday Loans Cost?

At Ready Payday Loans, we’ve got your back. We’ll help you get the lowest rate with terms that meet your needs. Contact us today for current rates and fees.

Apply for Payday Loans in Utah, TX, Today

If you need cash right away, payday loans can be an excellent choice regardless of your circumstances. Apply online today or contact Randy (that’s me!) and the team with any questions.