How to Get a Payday Loan When You Already Have One?

By  //  June 15, 2021

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For everyone, that wonders if it’s possible to have multiple payday loans, the answer is YES! However, the process of getting a second payday loan is not the same as getting the first one.

On top of that, interest rates are probably worse and you actually won’t get the loan under the same conditions. Therefore, it’s a good idea to find a reliable lender company, for example with the help of  Cashloansnearby and get a valuable piece of info.

And, by doing so, you will definitely increase your chances of getting a better second deal in case you already have one loan behind you. Meaning, not every lender will consider you as a potential business option if you already are burdened – no matter the income you have.

So, let’s take a look at so how to get a payday loan when you already have one. Let’s see some of the crucial aspects you should know.

What Does the Law Say?

When it comes to payday loans or so-called short-term loans, the Law is strict – You can have as many payday loans as you can handle. However, it’s not that easy to get a second one, not to mention a third or even a fourth one.

For example, payday loans are legal in Florida, and therefore, laws are not prohibiting any activity of this kind. Sure, in the eyes of the law, you can get a second payday loan, but there’s no guarantee a lender will allow you to get another one.

Also, you need to remember that the exact number or total amount of outstanding payday loans you can have at the same time can be restricted by your state law regulation. Thus, you can’t have several online payday loans in Florida but will be able to get an unlimited number of these cash advances in Texas or Wyoming. There are also states when payday loans are prohibited, meaning that you won’t be able to get them at all.

How to Get a Second Payday Loan?

As we already saw, it’s both possible and legal to get a second payday loan. You can even apply for a title loan without a job if you use the right strategy. So, let’s now see how you can get it.

Getting a second payday loan requires you to fulfill the standard requirements needed for the first one. Therefore, you need to:

■ Have an open bank account that’s up and running

■ Be at least 18 years old

■ Have a steady income – Proof as well

In most cases, you already met these requirements when you applied for the first loan.

How to increase your chances to get a second loan?

For most, getting approved for a second loan is definitely hard. But, there’s always a way – So make sure to have these on your mind:

1. Calculate your eligibility – Truth be told, there’s a certain number of borrowers that use a second loan to pay off the first one. Therefore, lenders will definitely lookout for these types of people and not allow them the second loan.

2. Fees will start to rise – Once you take the second loan, the interest rate from the first one will rise in comparison to the second loan. Meaning, you will become more in-depth.

3. Beware of your money – It’s definitely best to check your budget first and then consider whether you need a second loan.

What Lenders look out for?

Since every lender’s goal is to make a deal with someone who’s able to repay, they will look out for your financial situation. Meaning, you will have to provide every detail of your financial life and allow them to make a decision.


Getting a second payday loan is not nearly as easy as getting the first one. But, with a little help from us, you can get it without any complications.