Arkansas Payday loans

If you are thinking of getting an Arkansas short term loan, go through this guide first. If you need cash for some kind of emergency, surely a payday loan (also known as a cash advance) has crossed your mind. This guide will help you make the best of Arkansas loans.  

Are payday loans legal in Arkansas

No, it is illegal to take out an Arkansas payday loan. The law the governed the practice, called the Check Casher Act, is no longer valid since 2011. Since then, Arkansa payday loans are illegal.   Remember that regardless of this, there are other loan options available to you as you will see below and they still require that you read the paperwork and set yourself up correctly.  

Arkansas installment loans you can still legally apply for

Even if you do not have a perfect credit, installment loans are an option that could make sense as Arkansas installment loan companies do a thorough credit check and take everything into consideration. Of course, interest rates are pretty high (not as high as payday loans). It is important to consider all the risks and pay on time.   OPTIONS GO HERE

Options besides Arkansas payday loan loans if I need cash quickly

Just because you cannot get an Arkansas payday loan, it does not mean you do not have other options if you have an emergency or need cash quickly.  

• Apply for a credit card There are many credit cards options for you even if your credit is not that great. The good thing is that credit cards will be a better option that Arkansa payday loans anyways.
• Tribal Loans One option that could make sense even if you live in Arkansas is a tribal lender. Because tribal lenders are located in sovereign land, they have their own laws and regulations.
• Short term loans in other states If you are in Arkansas only temporarily and you still have documents proving your residence in another state, you can consider applying for a payday loan in that State.
• Side jobs Try looking for work elsewhere. Uber driving? Look for extra work with friends, writing online if you feel like it. We recommend you exhaust all options before you try a loan.

Costs of Arkansas payday loans

Anytime you get a loan there will be interest and fee charges or various kinds. Luckily there are laws governing loans in Arkansas that cap small loan APR at 17% and how much companies can charge have to do with your credit score and other factors.   There are various other fees however such as application. Disbursement, settlement and late charge fees. You will pay if your check bounces too. Read the contract carefully.