Payday Loans in Burnwell, Alabama

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

Company nameAddressZip codePhone number
Robertson Banking Company 1406 US-80, Demopolis, AL 36732 +1 (334) 289 - 6800
Mann Mortgage LLC 565 S 20th Ave Suite C, Safford, Arizona +1 (928) 428 - 5650
Cash USA 2312 Beltline Rd SW #1, Decatur, AL 35601
Advance America 547 US Hwy. 80 W, Demopolis, AL 36732
Superior Loan Service 1808 3rd Ave N, Birmingham, AL 35203 +1 (205) 252 - 9303
First Citizens Bank & Trust 302 Prairie Ave, Eutaw, AL 35462 +1 (205) 372 - 3311
First Lenders Mortgage Corporation 85 Bagby Dr 204, Birmingham, AL 35209 +1 (205) 942 - 9696
Quik Pawn Shop 1543 Montgomery Hwy suite a, Hoover, AL 35216
Pioneer Credit Company now Mariner Finance 2969 Ross Clark Cir, Dothan, AL 36301 +1 (334) 793 - 0691
Payday Loans Dothan 1397 Co Rd 47, Midland City, AL 36350

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Burnwell, AL, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Gadsden, AL, Payday Loans in Homewood, AL, Bad Credit Loans in Hoover, AL, Payday Loan for Huntsville, AL, Payday Loans in Jasper, AL, Payday Loans in Madison, AL, Quick Loan in Mobile, AL and Payday Loans in Montgomery, 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 Burnwell, AL.

Are Payday Loans Legal In Burnwell, 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

Burnwell, AL payday loan calculator

Welcome to our guide on payday loans in Burnwell, Alabama. If you’re in a tight financial spot and need cash quickly, you might want to consider a payday loan. These loans provide a short-term solution to cash flow problems and are often used to cover unexpected expenses or bills. In this article, we’ll cover everything you need to know about payday loans in Burnwell, Alabama.

How do payday loans work?

Payday loans are a quick and easy way to borrow money when you need it most. They are designed to be short-term loans that you repay in full when you receive your next paycheck. In Burnwell, Alabama, payday loans are legal, meaning anyone over the age of 18 who has a steady income and a bank account can apply for a loan.

To apply for a payday loan, you’ll need to provide some basic information, including your name, address, and employment details. You’ll also need to provide your bank account information so the lender can deposit the loan money directly into your account.

The amount you can borrow with a payday loan in Burnwell, Alabama is usually between $100 and $500, depending on your income and other factors. The loan term is usually between 10 and 31 days, and the interest rates can be quite high, with an average APR of around 400%.

The Pros and Cons of Payday Loans

Before you decide to apply for a payday loan in Burnwell, Alabama, it’s important to weigh the pros and cons. Here are some things to consider:

Pros

  • Quick and easy application process
  • No credit check required
  • No collateral required
  • You can get funds quickly to cover unexpected expenses

Cons

  • High interest rates and fees
  • Short repayment term can be difficult to manage
  • Borrowing too much can lead to a debt cycle
  • Not a long-term solution to financial problems

While payday loans can be a convenient option for some people, it’s important to remember that they’re not a long-term solution to financial problems. If you’re struggling with debt, it may be better to seek help from a financial advisor or debt counselor.

Interest Rates and Fees for Payday Loans in Burnwell, Alabama

In Burnwell, Alabama, the average APR for a payday loan is around 400%. This means that on a $100 loan with a two-week term, you could expect to pay back $115 in total. The fees and interest rates can vary depending on the lender and the loan amount, so it’s important to read the terms and conditions carefully before applying.

Payday loan lenders in Burnwell, Alabama are required to follow state regulations regarding interest rates and fees. For example, the maximum amount you can borrow is $500, and the loan term cannot be less than 10 days or more than 31 days.

Interesting Facts and Statistics about Payday Loans in Burnwell, Alabama

Here are some interesting facts and statistics about payday loans in Burnwell, Alabama:

  • In 2019, there were over 200 payday loan storefronts in Alabama.
  • In 2018, payday lenders in Alabama charged an average APR of 456%.
  • The Consumer Financial Protection Bureau reports that 80% of payday loans are rolled over or renewed, meaning borrowers take out a new loan to pay off the old one.

Apply Now

If you’re considering a payday loan in Burnwell, Alabama, you can apply on our website. TheGuaranteedLoans is a connector service, not a direct lender, so we’ll facilitate your connection with potential lenders. To apply, simply fill out our online application form with your basic information and we’ll connect you with a lender who may be able to offer you a loan.

Remember, payday loans should only be used for short-term financial needs. They’re not a long-term solution, and the high interest rates and fees can make them difficult to manage. If you’re struggling with debt, it may be better to seek help from a financial advisor or debt counselor.

Thank you for reading our guide on payday loans in Burnwell, Alabama. We hope you found it helpful!

F.A.Q.

What are the requirements for taking out a payday loan in Burnwell, Alabama?

To take out a payday loan in Burnwell, Alabama, you must be at least 18 years old, have a regular source of income, and have a valid checking or savings account.

How do I apply for a payday loan in Burnwell, Alabama?

To apply for a payday loan in Burnwell, Alabama, you can either visit a payday lender in person or apply online. In either case, you will need to provide some basic information, such as your personal details, employment information, and bank account information.