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Consumer-Friendly Payday Loans for Idaho Residents

Idaho Online Payday Loans Direct Lender

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Living in Idaho means there’s no shortage of things to do and see. Though the area is home to some of the most diverse and exciting attractions in the nation, many Idahoans find the cost of living a bit challenging to comfortably meet. Some people work several jobs just to make ends meet and do not always have the financial means to cover the additional expenses that occasionally come up. Even those who are fortunate enough to live in low rent areas feel the pinch of rising medical bills, food costs, property prices and utilities.

Payday loans have become a financial resource that many local area residents rely on to help them meet their obligations. Unlike many other available resources that have strict lending requirements and hard-to-meet criteria, payday advances are a product that poses few barriers, making it a smart decision for individuals, no matter what their income level and credit backgrounds are. With the right education and options, payday loans can help them bridge the gap when necessary.

Payday Advances Benefit People From All Walks of Life

Payday loans are not just for cash strapped people.

Unexpected financial obligations can arise at any time, which is why it is so important for those in need to learn the pros and cons of payday loans before they take any out. Anyone from the “Gem of the Mountains” who is interested in learning more about pay advance loans should consider the following information on regulations, options and how to fully reap their benefits. Here’s a quick and handy guide for potential payday loan applicants in the Boise, Meridian, Nampa, Post Falls, Grangeville and surrounding areas to refer to.

Idaho Payday Laws & Stats

Even with proper education, some borrowers need assistance to manage their payday loans. Fortunately, Idaho has consumer protection laws in place to help them. Contrary to common belief, there are no criminal penalties for defaulting on payday loans. Lenders must be state-licensed. They are not allowed to harass or pursue illegal collection activities, i.e., sue for triple times the borrowed amount and associated fees against borrowers who default on their loans. All collection attempts must follow state law, not violate consumer rights and be outlined in the original terms of the borrower’s contract. Potential borrowers should note the following pointers on payday loans in Idaho.

No more than one loan is allowed at a time. Lenders must provide a cool off period of at least 24 hours. The cool off period gives consumers time to review the terms of their loan agreements and to decide if they want to still commit to the loan or cancel it. No reason is required to cancel during the cool off period.

Previous loan balances must be repaid before new loans are approved and dispersed. Loan balance rollovers are not allowed, nor are borrowers allowed to take out new loans to satisfy preexisting loans. Fees and financing costs are capped at $5 and 10% for the check and application verification fee. $100 14-day loans have an APR no greater than 419%.

Clear & Concise Repayment Terms

Under the terms of the repayment plan, a no charge 60-day grace period extension is available upon enrollment into the credit counseling program. The counseling program provides valuable information that can help borrowers better structure their repayment schedule. Borrowers can apply to receive up to $500 for a term length maximum no greater than 21 days and no less than 7 days. Borrowers who require more repayment time can apply for an extension on their repayment plan.

To prevent people from taking on more debt than they can manage, payday loan lenders must enter borrowers into the Deferred Presentment Transaction System. It is a state-managed database of borrowers who have existing payday loans. Before lenders can approve anyone, they must verify the borrower’s information with the database to ensure that all prior loans have been repaid and no active loans remain.

The law also prohibits lenders from using unlawful and harassing collection tactics for repayment. Life happens and situations can rise that can make it challenging for you to honor the repayment terms of your payday loan agreement. Until the loan is repaid, you cannot take out another pay advance anywhere in Idaho. Inform your lender as soon as you suspect problems with repayment, they may have options available to help you get caught up. If you are treated poorly by a lender or feel they were unethical during your dealings with them, file a complaint with the Idaho Office of Financial Regulation.

What Makes Snappy Payday Loans Different?

We’re working hard to restore the reputation of payday loans, cash advances and other short-term lending services. We believe that all kinds of people should have access to the financial products which can help them to deal with unforeseen expenses even if they have less than exemplary credit records. Unfortunately, the reputation of payday loans in Idaho has been marred by less than reputable lenders who prey on the financially vulnerable.

If you’ve made the informed decision to take out a payday loan you can do so safe in the knowledge that Snappy Payday Loans can help you do so in the safest way possible. Remember we are not a payday lender. Instead we put you in touch with the right payday loans direct lenders in Idaho to suit your needs, helping you to make a well informed and zero-obligation decision that’s right for you and your household.

How the Loan Process Works

When you apply for payday loans through our website, the process is completely secure and confidential. Our 128-bit encrypted connection transmits your application to our partners without the risk of interception by third parties. We pride ourselves on our simple, streamlined application process. Most people are approved if they meet the following requirements:

  • Have an active checking account in good standing
  • Are a permanent resident or citizen of the United States
  • Are age 18 or older
  • Have had a job for at least one month
  • Can supply a working phone number and email address

The Types of Lenders Available

You can get payday loans and cash advances in Idaho either online or in person. Scores of brick-and-mortar lenders operate in Idaho, and some of these lenders also operate online. You can go in person during the lender’s business hours or call the lender and begin the process that way. Alternatively, you can fill out an online request form if the lender has one. Then there are online-only companies such as Snappy Payday Loans. We offer a variety of helpful features:

  • With our quick service, most loans distributed within one business day.
  • Loans are deposited right into your bank account.
  • Lenders are often willing to work with applicants who have bad credit.
  • You only have fill out a simple online form.

We do not loan you the money, but we use the information you submit to match you with a direct lender (assuming you qualify for a loan). The direct lenders working with us operate by Online Lenders Association best practices. This online option is convenient because you don’t have to leave your home and wait in line or wait for a business to open. We process applications on secure servers 24 hours a day, seven days a week.

Get Cash Now

If you want a loan as soon as possible, check out our easy online form. Start the process here, and see if you’re matched to a lender. If you don’t like the rates or terms proposed, you are under no obligation to accept the offer. It’s a win-win situation in which you get to see whether you qualify and what the terms are like.

Upcoming Changes in Payday Loan Regulations

Recent changes in payday loan regulations are due to take effect in July 2019. Idahoans will be able to borrow up to $1,000. This gives people more borrowing power to better meet their financial needs without overextending themselves. Of course, the repayment period is increased up to 90 days, which is a moderate change from the current one week to 31-day repayment time frame.

The Snappy Payday Loans Difference

Payday loan lenders have gotten a bad rep. While there are some predatory organizations you should stay away from, there are still some good and reputable lenders out there. Snappy Payday Loans prides itself on maintaining a partner network of the top payday loan lenders. We work hard to provide consumers with the borrowing power they need for those unexpected times where a little more money is necessary. Our short-term lending solutions are available to all kinds of people, regardless of income, credit and background. We don’t prey on our customers and work hard to restore their faith in the payday loan industry.

Part of our mission is to make the payday loan process as smooth and eventless as possible. By providing consumers with in-depth knowledge about local regulations, borrowing requirements and lender options, we enable them to make the best-informed decisions for their circumstances. This includes us maintaining a network of credible direct payday loan lenders in Idaho.

Borrow Today for Peace of Mind

Getting the cash you need has never been easier with payday loans. With Snappy Payday Loans, just apply online, choose a lender from our network of partners and review the rates and terms. If you decide to accept them, you should see the money in your account within a business day. If you decide that you no longer need or want the payday advance, say no. Remember, there’s no obligation during the 24-hour cooling off period. You control the process.

Seniors who are interested in payday loans should check with the Idaho Department of Elder Affairs first for information on organizations and resources that can help them when they are strapped for cash. Financial assistance may be available and more suitable instead of payday loans. Of course, seniors who still need a little extra can take advantage of payday loans as long as they have social security or some other type of income. However, we strongly suggest careful consideration of every possible alternative resource first.

Stop worrying and take action to get your finances under control. Fill out our application to get started and find out which lenders have the lending options you need to give yourself some breathing room while you’re in between paychecks.

Kelly Stone

Kelly is a graduate of Northwestern University's Kellogg School of Management with a Master's Degree in Finance. She began her career in the short-term lending industry in 1996. Starting with one store, she grew the business to over 50 storefronts offering payday loans. As the industry started to shift online, she changed gears and started Snappy Payday Loans, allowing consumers nationwide to apply online for a payday loan. Through relationships and time, Kelly has built a large network of lenders that offer loans that Snappy utilizes today.