Cash 1 Blog

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Seniors can qualify for payday loans

Are Seniors Eligible for Payday Loans?

Updated on April 20, 2021


When members of the workforce think about their future retirements, they imagine enjoying all their free time because they won't have to work anymore.

Unfortunately, new economic realities have made this fantasy difficult to obtain for many retirees. Many people are struggling to make ends meet, barely scraping by off their savings and social security checks. Sometimes the money doesn't come fast enough to cover every expense. Options can seem limited, and some retirees may consider going back to work, even if they aren't physically able.

Payday loans are available to anyone who has a steady income, and that includes people who receive social security benefits. Seniors post-date their next check and sign it over to a lending house to receive cash immediately in order to cover any necessary expenditures. Retirees are charged the same annual percentage rate (APR) and transaction fees as everyone else, so applicants still have to account for a diminished future check. This additional financial planning helps consumers avoid taking out multiple loans and falling into debt.

CASH 1 provides short-term loans to seniors who earn regular incomes. The payday lenders make it simple and convenient for retirees to get quick cash whenever they need it.

Photograph of author Joseph Priebe

Joseph Priebe

Joseph Priebe takes pride in assisting audiences with his articles to help them make sound financial decisions.

With over ten years of experience writing financial content his goal at CASH 1 has always been creating engaging and easy-to-digest information for anyone searching for immediate or long-term monetary solutions.

When Joseph is not writing about personal finance, you can find him photographing the Southwest United States with his 4x5 Graflex Crown Graphic camera. He is based in Phoenix, Arizona.