Payday Loans in Castleberry, Alabama

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

Company nameAddressZip codePhone number
TitleMax Title Loans 542 W Fairview Ave, Montgomery, AL 36105 +1 (334) 293 - 9060
Clanton Financial Services Inc 220 7th St S, Clanton, AL 35045 +1 (205) 755 - 8034
1st Franklin Financial 11227 Al Hwy 157, Suite J, Moulton, AL 35650
Samson Banking Co 2 W Main St, Samson, AL 36477 +1 (334) 898 - 7107
Check n Go 3753 Highway 431 N, Ste F, Phenix City, AL 36867 +1 (334) 480 - 9060
Covington Credit 2031 E 280 Byp, Phenix City, AL 36867 +1 (334) 448 - 7887
Security Finance 2207 Gault Ave N Suite E, Fort Payne, AL 35967 +1 (256) 997 - 0511
Neighborhood Cash Advance 5928 Wares Ferry Rd, Montgomery, AL 36117 +1 (334) 819 - 7647
Woodforest Bank 170 E Fort Morgan Rd, Gulf Shores, AL 36542 +1 (251) 239 - 3266
Alabama Title Loans, Inc. 1021 Coffeeville Rd, Jackson, AL 36545

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Castleberry, AL, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Alabaster, AL, Payday Loans in Albertville, AL, Payday Loans in Anniston, AL, Payday Loans in Athens, AL, Payday Loans in Atmore, AL, Emergency Loan in Auburn, AL, Payday Loans in Bessemer, AL and Payday Loans in Birmingham, 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 Castleberry, AL.

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

36432

Are Payday Loans Legal In Castleberry, 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

Castleberry, AL payday loan calculator

Payday loans are a type of short-term borrowing that are designed to help individuals cover urgent financial needs until their next paycheck. In Castleberry, Alabama, such loans are perfectly legal, and many people turn to lenders to help make ends meet. Read on to learn more about payday loans in Castleberry, AL.

What is a Payday Loan?

A payday loan is a type of unsecured loan that is meant to cover a borrower’s expenses until their next paycheck. These loans are typically associated with high-interest rates, and the amount borrowed is often relatively small. Payday loans often come with fees rather than interest rates, which can make them very expensive in the long run.

To get a payday loan, a borrower will typically provide a postdated check or authorization for electronic debit, allowing the lender to collect the loan amount plus fees on the borrower’s next payday.

How Do Payday Loans Work in Castleberry, Alabama?

Payday loans are legal in Alabama, and lenders are allowed to charge up to 17.5% of the face value of the check or up to $17.50 per $100 borrowed, whichever is less. There are no limits on how much a borrower can take out, and lenders in Alabama are not required to be licensed or registered. However, they must comply with certain regulations governing payday loans.

In Castleberry, Alabama, borrowers can apply for a payday loan from a storefront lender or an online lender. To qualify for a payday loan, a borrower typically needs to provide a valid government-issued ID, proof of income, and a checking account. Lenders may also require a postdated check or authorization for electronic debit.

The Pros and Cons of Payday Loans in Castleberry, Alabama

Like all financial products, payday loans come with upsides and downsides. Here are some of the key pros and cons of payday loans in Castleberry, Alabama:

Pros:

  • Easy to Qualify: Payday loans typically have few requirements, and borrowers can often qualify even if they have bad credit.
  • Fast Funding: Payday loans are designed to provide quick cash, and many lenders can process applications in minutes.
  • No Collateral Required: Payday loans are unsecured loans, which means borrowers don’t need to put up any collateral to qualify.

Cons:

  • High Fees: Payday loans often come with steep fees or high-interest rates, which can make them very expensive in the long run.
  • Potential Debt Trap: Borrowers who can’t pay back their payday loans on time may have to roll them over or take out new loans to cover the original loan, which can lead to a cycle of debt.
  • Not a Long-Term Solution: Payday loans are meant to be a short-term solution, and they are typically not suitable for borrowers who need to borrow larger amounts or for longer periods.

Interesting Facts and Statistics about Payday Loans in Castleberry, Alabama

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

  • According to the Alabama Banking Department, payday lenders issued more than 1.6 million loans in Alabama in 2018, with the average borrower taking out eight loans per year.
  • The average payday loan amount in Alabama was $350 in 2018, with an average fee of $50. This means that borrowers paid an average of $450 to borrow $350.

Apply Now

Do you need a payday loan in Castleberry, Alabama? TheGuaranteedLoans can help. We are not a direct lender but a connector service that can connect you with potential lenders who may be able to meet your needs. Fill out an online application now to get started.

Note: Payday loans are not available in every state. Please check your local laws to ensure that payday lending is available in your area.

F.A.Q.

What are the eligibility requirements for payday loans in Castleberry, Alabama?

To be eligible for a payday loan in Castleberry, Alabama, a borrower must have a regular source of income and an active checking account. In addition, the borrower must be at least 18 years old and a resident of Alabama.

How much can I borrow with a payday loan in Castleberry, Alabama?

The maximum amount that can be borrowed with a payday loan in Castleberry, Alabama is $500.