Payday Loans in Billingsley, Alabama

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No payday loan companies in Billingsley, AL. Consider companies in other cities:

Company nameAddressZip codePhone number
Choice Finance Co Inc 1347 S Eufaula Ave D1, Eufaula, AL 36027 +1 (334) 687 - 8340
pls Loan Store 505 Highland Ave, Selma, AL 36701 +1 (334) 872 - 5569
First US Bank 131 Main St, Grove Hill, AL 36451 +1 (251) 275 - 4111
First South Farm Credit 41655 St, AL-59, Bay Minette, AL 36507 +1 (251) 580 - 8678
Woodforest Bank 2578 Douglas Ave, Brewton, AL 36426 +1 (251) 867 - 7002
Check n Go 2491 US-431 N, Anniston, AL 36206 +1 (256) 847 - 8889
Tower Loan 1703 14th St, Phenix City, AL 36867 +1 (334) 664 - 9330
Advance America 53 Vaughan Ln, Pell City, AL 35125
Money Store 222 Haynes St c, Talladega, AL 35160
Friend Bank of Hartford 307 W Main St, Hartford, AL 36344 +1 (334) 588 - 3802

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Billingsley, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mountain Brook, AL, 24-Hour Loan in Northport, AL, Quick Loan in Opelika, AL, Payday Loan for Oxford, AL, Payday Loans in Pelham, AL, Payday Loans in Pell City, AL, Payday Loans in Phenix City, AL and Same Day Loans in Prattville, AL. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Billingsley, AL.

Payday Loans Available in Billingsley, AL By The Following ZIP Codes:

36006

Are Payday Loans Legal In Billingsley, Alabama?

Loan Rates and Fees, Laws and Regulations in Alabama.

Alabama Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)456
Maximum Loan Amount$500
Minimum Loan Term10 days
Maximum Loan Term31 days
Number of Rollovers Allowed1
Finance Charges17.5% of the amount advanced

Billingsley, AL payday loan calculator

Understanding Payday Loans in Billingsley, Alabama

Life is full of surprises, and sometimes those surprises come in the form of unexpected expenses. Unfortunately, these sudden financial needs often occur between paychecks, leaving many people struggling to cover the cost. That’s where payday loans come in.

Payday loans are a type of short-term loan designed to help people bridge the gap between paychecks. While these loans can be a lifesaver in some situations, they’re not without controversy. In this article, we’ll take a closer look at payday loans in Billingsley, Alabama, and provide you with all the information you need to decide if they’re the right solution for your financial needs.

How Do Payday Loans Work?

Payday loans are typically small loans, usually ranging from $100 to $500. To apply for a payday loan, you’ll need to provide proof of income and a valid ID. You’ll also need to postdate a check, which the lender will cash on your next payday. Alternatively, you can give the lender permission to withdraw the loan amount and any fees from your checking account.

The loan term for a payday loan is usually around two to four weeks, or until your next payday. However, some lenders may offer longer terms for larger loans.

Are Payday Loans Legal in Alabama?

Yes, payday loans are legal in Alabama, and regulations govern how much you can borrow and how much lenders can charge in fees. According to Alabama law, payday loans are limited to $500, and lenders can charge a maximum fee of 17.5% of the loan amount.

What Are the Pros and Cons of Payday Loans in Billingsley, Alabama?

Pros

  • Quick access to cash when you need it most.
  • Easy application process, with little to no credit requirements.
  • Short-term loan that can be paid off quickly.

Cons

  • High interest rates and fees. On average, payday loan fees can equate to an annual percentage rate (APR) of 400% or more.
  • Short repayment term can lead to a cycle of debt if you can’t pay the loan off in full by your next payday.
  • Some lenders may engage in predatory practices, such as rolling over loans or adding hidden fees, which can make it difficult to pay back the loan.

Applying for Payday Loans on TheGuaranteedLoans

At TheGuaranteedLoans, we understand that unexpected expenses can be stressful. That’s why we’ve made it easy to apply for a payday loan online from the comfort of your own home.

To get started, simply fill out our online application form, which takes just a few minutes to complete. We’ll then send your application to our network of lenders, who will review your information and determine if you’re eligible for a loan. If you are connected with a lender, they will contact you directly to discuss the details of your loan.

Please note that TheGuaranteedLoans is a connector service, not a direct lender. We work with a network of reputable lenders to help connect you with the best loan options for your needs.

Interesting Facts About Payday Loans in Billingsley, Alabama

  • According to a 2016 report by the Alabama Appleseed Center for Law and Justice, payday lenders in Alabama charge an average APR of 300-456%.
  • Alabama has the highest concentration of payday lenders in the nation, with more than 1,000 payday lending storefronts located throughout the state.
  • A 2019 report by the Alabama State Banking Department found that fewer than 15% of payday loan borrowers in Alabama repay their loans in full on the first due date, leading to a cycle of debt and additional fees.

Conclusion

Payday loans can be a useful tool for managing unexpected expenses, but they’re not without risks. If you’re considering a payday loan in Billingsley, Alabama, it’s important to do your research and understand the terms and conditions of the loan. Consider all your options and only borrow what you can afford to pay back. And remember, if you need help finding a payday loan lender, TheGuaranteedLoans is here to help.

Apply Now

Ready to apply for a payday loan in Billingsley, Alabama? Fill out our online application form now, and we’ll connect you with our network of reputable lenders. Remember, TheGuaranteedLoans is a connector service, not a direct lender. We’re here to help you find the best loan options for your needs.

F.A.Q.

What are payday loans in Billingsley, Alabama?

Payday loans in Billingsley, Alabama are short-term, high-interest loans that are designed to be repaid on the borrower's next payday. These loans are often used to cover unexpected expenses or to bridge the gap between paychecks.

How do payday loans in Billingsley, Alabama work?

To take out a payday loan in Billingsley, Alabama, a borrower typically writes a check for the amount of the loan plus a fee, which the lender holds until the borrower's next payday. On that date, the borrower has the option to either repay the loan in full, including the fee, or roll the loan over for another term by paying only the fee.