Payday Loans in Georgia are Illegal but You Can Consider the Alternatives

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Many people at least once in their lives find themselves in a situation where they urgently need funds, but there are no savings. The most popular solution for this is payday loans ranging from $100 to $1,000 and paid off in one installment after 30 or 60 days. However, payday loans, unfortunately, are not considered legal in every state. For example, in Georgia payday loans are still not recognized by law and because of this, many find themselves in a hopeless situation. But do not despair, because you can always find an alternative and get out of the situation.

Payday loan alternatives

If you are a Georgia resident, there are several types of payday loan alternatives available to you:

  • installment loans – thanks to them, you can get from $1,000 to $5,000 and pay them back in monthly payments. The advantage of such loans is the fact that you can regulate the amount of monthly payments and the APR with such loans is much lower than in the case of payday loans.
  • personal loans – they are essentially installment loans, but they are issued for up to $35,000 and for a period of up to 60 months. It is worth noting that any type of loans can be used for absolutely any purpose and the lender does not need to provide documents on expenses.
  • title loans – this type of loans involves the presence of a car as collateral. Title loans in Georgia can be as high as $50,000 for up to 30 days. At the same time, you can use the car throughout the entire term of the loan repayment.

All these types of loans are useful in their own way and are issued to customers with any credit history.

Loan application 

Loan application for different loan types is almost the same and requires the same documents and steps. To apply for a loan in Georgia, you have to provide:

  • ID card;
  • American citizenship and residence in Georgia;
  • proof of income;
  • age 18 and older;
  • valid phone number, email and bank account in an American bank. 

If you are planning on applying for a title loan, you should also provide:

  • model of your vehicle;
  • year – not older that 12 years;
  • insurance;
  • be the only owner of the car;
  • second copy of keys.  

Another alternative would be to apply for a loan in a nearby state, such as Pennsylvania. Thus, title loans in Pennsylvania are the most popular option and require all the same documents as in the state of Georgia. When applying online, you will not even need to indicate your permanent residence.

How to take a loan online right away?

Taking a loan right away is not difficult. Loan online is the simplest loan available in Georgia and you must submit an uncomplicated online application to receive it.

The application process is very simple and only takes a few minutes. It all starts with choosing the right loan offer. The customer can compare and choose a loan from among many proposals. Often, customers use loan rankings to increase their chances of receiving money. In order to submit an application quickly and without undue delay, it is worth preparing all the elements necessary to complete it. The loan will be possible, as before proceeding to obtain it, the customer will have with him: ID card, mobile phone and own bank account number. This will definitely speed up the sending of a correctly completed application and, consequently, the receipt of the loan.

To sum up – how to take a loan in Georgia

Even though payday loans are now available in Georgia, you can find many alternatives that can save you in emergency situations. You can borrow online loans 24/7, even on Saturdays and Sundays. It should only be remembered that an online loan in Georgia is a financial obligation that must be repaid. If your income allows it, you can go ahead and take a loan online in 5 minutes. You will receive the loan almost immediately. 

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