Wyoming Cash Advance (WY)
There are probably a select few of us who have never had an unexpected financial emergency. When you are living from paycheck to paycheck, even the smallest sudden monetary situation can send consumers across Wyoming and the U.S. into a tailspin, with returned check and past due fees coming at you from every direction. It’s no doubt that settings such as this contributes to the increase of cash advance storefronts and websites nationwide.
What would happen if your car’s radiator blew out and you didn’t have the cash to repair it so that you have transportation to and from work? You know that you will have the money when you get your next paycheck, which unfortunately isn’t until next Thursday. This would be a prime reason for a cash advance.
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With a cash advance, or other payday loan, your credit report and score aren’t used as a basis for your loan. All that is needed is your current pay stub for the potential cash advance lender to calculate your eligible loan amount. Some lenders may require that your employer directly deposit your paycheck into your checking account, or you may be able to get the cash you need more quickly by utilizing this option.
One popular means of paying your short-term, single payment loan is by writing a personal check out to the lender for the full loan amount along with any applicable fees and post-dating it for your cash advance’s due date.
Wyoming has some laws to protect consumers and lenders alike within the payday loan industry:
- Time frame for loan cannot be more than one calendar month.
- Fees cannot be more than 20% of the loan amount ($20 per $100 borrowed) or $30, whichever is greater.
- No rollovers (refinancing one cash advance with another) are allowed.
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* Cash-Advance-USA.org provides information and research on cash advances/payday loans. We are not a payday lender or broker, nor are we necessarily affiliated with the companies profiled on this site. Not all products and services are available in each state.
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