payday loans in south carolina

Can You Have 2 Payday Loans In SC?

Have you ever wondered if you can have 2 payday loans in SC at the same time? A lot of customers who have taken out a payday loan with lenders like Carolina Payday Loans, Inc. find that they need another, but wonder if it’s even an option. That may leave you wondering about less appealing forms of funding.

So, if you are curious about whether you can get a second loan while you still have one to pay off, keep reading.

Are 2 Payday Loans In SC An Option?

State Law Prohibits This

Unfortunately, you cannot have 2 payday loans in South Carolina, State law prohibits this which means that customers who have an existing payday loan cannot take out another loan until they have repaid the first.

The law states that a loan cannot be given to a customer who has an existing payday loan, or to a person who has just repaid their payday loan in the last 1 to 2 business days. That means that if your loan is still active, or if you’ve only just finished paying it off, you may not be able to take out a second loan.

If you’ve paid off your loan and a few working days have passed, you are then, and only then, able to take out another loan.

two people looking to get payday loans in sc

Can I Get Advice On 2 Payday Loans In SC If I Need More Information?

If you want to discuss your situation, you can get in touch with one of our helpful agents by filling out the online inquiry form on Carolina Payday Loans, Inc., or by giving us a call. If You would like to find a store near you that you can call directly, simply click the “locations” tab on our website.

When you speak with one of our agents, they will be able to offer you guidance on your options, but will not be able to give you a secondary loan if you already have one.

So, if you are still wondering “Can you have 2 payday loans in SC”, the answer is no, state law prohibits this.

That’s true even if you try to take out loans with different lenders or avoid declaring the loans. It may not be legal for you to acquire a second payday loan, and different companies will likely have checks in place to prevent this from happening.

Can You Have 2 Payday Loans In SC If One Has Been Repaid?

If you have fully paid back a payday loan, you may be able to get another loan, although there might be a “cooling off” period before you can apply. It’s important to talk to an agent if you are in this position so you can get accurate advice about your loan needs.

In most cases, if you have only just repaid your payday loan, you will need to wait 1 or 2 business days to get another, regardless of the lender you are working with.

If you’re not sure where that leaves you, Carolina Payday Loans, Inc. can help. Our agents will be able to offer input on your loan and may be able to check on how soon you will be eligible to borrow against your paycheck again. All you need to do is get in touch via our website or by phone, and we’ll discuss your options.

sign to get a payday loan

How Do You Get A Payday Loan?

Taking out a payday loan is usually straightforward and takes very little time. Although the answer to “Can you have 2 payday loans in SC” is “no,” you can get 1 even if you have poor credit and few other assets.

To do this, you simply need to fill in a quick form on our website, and then speak to one of our agents over the phone. They’ll help you organize the paperwork you need, which will generally be a state-issued ID, a blank check from your checking account, and your latest pay stub. Note that you also need to be over the age of 18.

If you have everything you need to qualify, you can come down to one of our handy locations to fill in the forms and ask any questions you may have, and that’s all there is to it! You can get the money you need that day or the next business day.

Get Your Payday Loan Application Rolling Now

Carolina Payday Loans, Inc. is a specialist in helping individuals get payday loans in South Carolina. So, if you’re looking to begin your loan request or learn more about the process, you can call for advice. If you already have a payday loan, state laws prohibit getting another, but a store representative may be able to help you understand your options.

Financial emergencies happen to everybody, and a payday loan can provide a quick and simple solution. Rather than having to spend weeks waiting for a bank loan to be approved, you can apply and get the money you need in just a few days. Fill out our online inquiry form to get started today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.