Not everyone qualifies for a cash advance loan. Most people assume if they are on disability that they will not qualify for a cash advance (often called payday) loan.
However, in some cases, people who are receiving disability payments as their primary income source may well qualify for a loan. Why? Because if you have a reliable source of monthly income, you may qualify.
Everyone can face a money emergency in their lives. It happens all the time. That sudden auto problem, the air conditioning breaking in the heat of summer (or vice versa in the winter), an unexpected medical bill to pay, and so on. But there are personal loans for people on disability payments.
You have to be careful while applying for a cash advance loan because there are some bad people out there who specifically target those with disabilities.
Never, ever talk to direct phone callers who want to provide a loan.
And, even more important, never pay anything “up front” for any kind of loan.
These are always 100% SCAMS. They use names of legitimate companies but are just stealing your money.
If you apply for a loan and are then connected to a lender, i.e., you are pre-qualified, and the lender is interested in lending to you, then be sure to ask them about all terms and conditions of your loan.
Expect they will ask for proof of your ongoing disability income source and some other information.
Remember that even if you qualify and a lender wants to provide the loan, you are under no obligation to accept that loan.
If you are not comfortable with the costs and repayment terms, you should not accept the loan.
Always be sure you can pay back your loan on the schedule provided to you by your lender… before you agree to get the loan.
When applying online, you’ll simply need to state your source of income and the amount you receive each month.
Every state has different laws related to cash advance loans and some states do not allow them. Be sure to check your state laws (you can easily find them online).
The process of getting a loan is simple and straightforward. Generally, there is not much difference in how the process works for borrowers with a disability and those without. You still must be:
At least 18 years of age
Have a current bank account
Provide proof of your income even if it is a disability check
Kimmy Burgess is the Manager of Cash in a Snap, which helps clients get connected to its large network of reputed lenders to get a no fax payday cash advance when they need it. Kimmy has over 20+ years’ experience in Administrative Management, with many years in the lending industry.