United Check Cashing ReviewsUnited Check Cashing is licensed and regulated by the state and it offers payday loans amongst other financial services. The company has been in operation since 1977 when it was founded. However, the lender introduced franchising in 1992 to express its entrepreneurial spirit. Their payday loans service is only available in four states in the US. Website:www.unitedcheckcashing.com
United Check Cashing is a company offering several financial services and also provides payday loans in selected states. With payday loans, they focus on people with low credit scores that may bar them from accessing credit from traditional lenders. The service is in-store based and the online platform is used to locate stores around you. The lender claims to offer an exceptional service and makes the process memorable in positive ways.
Payday loans are short-term personal loans that are aimed to help in solving emergency expenses. By design, they should be a good remedy to short-term financial difficulties. United Check Cashing offers easily accessible loans and people with damaged or no credit records can access the loans.
The application is available in their physical stores in the eligible states. The process is easy and takes a few minutes to get an approval as well as the money.
The cash borrowed can be paid back through several ways. You can choose to set up automatic payments through your bank account or write a post-dated check during the application process. Normally, the payment will be due on the next payday and as will most payday loans, the amount is expected to be paid off in full.
Although payday loans are supposed to be used over a short period, some people tend to use them as a source of long-term financing. However, payday loans lenders are left with minimal options when a customer is having difficulties with loan payments and the most viable option is to roll over the loan for another term. Consequently, the fees and charges tend to accumulate fast and can easily surpass the original amount.
United Check Cashing will work with you in the event when making a scheduled payment becomes impractical. It is advisable to make contact with the lender on the slightest indication of a possible missed payment. When you initiate negotiations for alternative payment plans, it is likely to secure a good deal that favors your budget.
To qualify for a loan with United Check Cash, you have to fulfill the eligibility criteria which include the following.
- You must be at least 18 years or older at the time of application
- You must have a source of stable income that you can verify. Most lenders will accept a pay stub as proof of income. However, if you are in self-employment, you will be required to produce a number of recent tax returns documents.
- You must be a citizen or permanent resident of the US. Further, you must be dwelling in one of the states where the lender offers payday loans. Presenting some utility bills will easily settle this issue.
- You must be having a valid and operational checking account that is in a good standing. To prove this, you will be required to provide a few statements as proof.
- You must be having a government-issued ID like a passport or a driver’s license. Similarly, you will be asked to produce your social security number.
- You must not be on active duty in the military or be a dependent of an active individual in the military. Like most lending companies, United Check Cash will not lend to persons protected by the strict federal law which completely covers the members of the armed forces.
Payday loans are a convenient way of dealing with emergency financial demands. However, responsible borrowing is recommended so that you can reap the benefits of the loans. Because they are an expensive source of funding, it is prudent to only borrow what is needed and make sure it is within your means to pay before the term expires.
Typical with all payday loans, extending an original repayment term is an expensive option. When possible, the whole amount should be settled by the due date to avoid the hefty charges applied on the loans. In most cases, people struggling with payday loan debts have a habit of rolling over the loans which lead to the application of huge fees. Because it is normal for payday loans to have very high APR rates, they are best used within the recommended premises.
The loan term is set to coincide with your next payday which can be a few days to a month. Depending on your financial situation, make sure to settle on the most appropriate option after considering other financial obligations that must be attended.
On the due date for the loan, the money is debited from your account in most cases. This requires the bank account in question to have enough funds to make the payments. Otherwise, the lender will apply late payment charges on your loan; this is soon followed by other charges from your bank.
The fees will vary depending on the state of residence, the amount borrowed and your qualifications. The exact rates are disclosed to applicants during the application process at the store. In addition to APR fees, there are other charges like late fees and missed payments where applicable.
The payday loan offered is easy to access and the application and approval process takes quite a short time. If you have all the documents required, you can have the money on the same day.
Most people with bad credit scores have been left out of the traditional lending platforms. But with lenders like United Check Cash, access to loans is easy and fast.
Unlike most payday lenders, this company has flexible working hours to accommodate a varied clientele. Their customer service is good and you can easily engage them on the toll-free phone number provided on the website.
The money borrowed can be used for any expenses and the lender will not require you to specify the intended use. However, in an effort to uphold responsible borrowing, finance experts recommend that you spend the money on emergencies or other pressing matters that can’t be postponed.
At the moment, the lender offers payday services in Colorado, Delaware, Ohio, and Florida.
United Check Cash has several discounts for their services but they don’t seem to have any that are specific to the payday loans.