If you receive disability benefits and an unexpected expense comes up, you may wonder whether you can still apply for a payday loan without a traditional paycheck.
The answer is that receiving disability benefits does not automatically prevent you from applying for a payday loan.
Payday lenders generally require applicants to show income from a job or another source. Nevada Title and Payday Loans, Inc. also states that people receiving disability benefits may be able to use that income when applying, although the documentation accepted can depend on the individual application and location.
Qualified Nevada borrowers may receive up to $500* with a payday loan, depending on income and approval.
Here's what you should know about payday loans for people on disability, what income documentation you may need, and how the Nevada application process works.
Key Takeaways
- You do not necessarily need income from a traditional job to explore a payday loan.
- Disability benefits may be considered a form of non-employment income, subject to verification and the lender's requirements.
- Nevada Title and Payday Loans, Inc. offers qualified borrowers payday loans of up to $500*.
- Standard required items are a state-issued photo ID, proof of income, and an active checking account.
- If you don't receive a regular pay stub, confirm what disability-benefit documentation the representative will accept before visiting the store.
- You can start online, but the current process is completed at a Nevada location.
- Approval and same-day funding are not guaranteed.
- Payday loans are short-term borrowing and can carry relatively high costs, so review the total repayment amount before signing.
What Is A Payday Loan?
A payday loan is an emergency loan designed to be paid back when your next payday rolls around. However, as we mentioned, you can still qualify for one without having regular paychecks.
Nevada payday loans are an option to cover emergency expenses. For example, people that use payday loans will use them to cover the following:
- Emergency repair bills.
- Cover bills in danger of going late.
- Cover a missed rent payment.
- Needed appliance replacement.
- Medical expenses.
Basically, a payday loan is an option for those expenses that need to be covered right away. It is an option for those expenses that really cannot wait until the next payday.
Can You Obtain A Payday Loan While On Disability?
As the name suggests, payday loans are for those that are in employment. However, at Nevada Title and Payday Loans, Inc., we offer payday loans for people on disability.
This is known as non-employment income. You will be able to qualify by providing us with proof of this income. That is why those on both short and long-term disability benefits may be able to obtain a payday loan through us.
What Is The Process For Obtaining A Payday Loan?
Nevada Title and Payday Loans, Inc. has simplified the process for inquiring about and requesting Nevada payday loans. You can borrow up to $500, and the money would be in your account on the same day or the following business day. Let us walk you through the process of obtaining a payday loan if you are on disability benefits:
Fill In The Inquiry Form
The process begins with filling in an inquiry form for Nevada payday loans. We will just ask you a few questions. This allows us to get some basic information that is required to start the process.
Starting the process online reduces the time you would need to spend at one of our stores. But you can alternatively also give us a call at 1-800-514-2274.
Wait For A Call From One Of Our Team
Within a few minutes of filling in a form, one of our team will give you a call. They will be from the closest location we have to where you live. They will tell you the documents that you need to bring to qualify and answer any questions you may have. They will also schedule an appointment with you at your local location to continue the process.
Gather The Required Documentation
We will require a few documents from you if you are looking for a payday loan using your disability benefit. This includes:
- State-issued photo ID.
- A blank check from an active checking account.
- Proof of income.
The standard proof of income for obtaining a payday loan is your most recent paystub. However, if you are on benefits, you may not have that. This means that you can instead bring proof of your disability benefits. Our team member will remind you of this during the discussion on the phone. They will also tell you which documents are going to be acceptable to prove your disability benefits. This may vary by location so be sure to call ahead to make sure disability is accepted as a form of income.
Head To One Of Our Lending Locations
Once you have your documents in order, you can head to our closest location for payday loans near me. We will go over your documents and carry out a few final checks.
Receive Your Money
If everything is in order, the store representative will inform if you that you qualify and how much money you qualify for. From there, you will be asked to sign a few forms to finalize the paperwork and you can receive your money on the same day or the following business day.
Nevada Title And Payday Loans, Inc. Helps While On Disability Benefits
Nevada Title and Payday Loans, Inc. prides itself on ensuring that the process of obtaining Nevada payday loans is as simple and headache-free as possible.
Starting the process online means that you will have to spend very little time at one of our locations. And because our loans are quick to obtain, often taking less than an hour, we could be an option for those that need emergency cash quickly.
Inquire About A Payday Loan Today
Now that it’s clear that payday loans for people on disability are possible, you can start the process to obtain your Nevada payday loans by filling in a short inquiry form on our website today. Our payday loans could be an option to deal with any urgent expense that appeared in your life.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
