Payday Loans in Collinsville, Alabama

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

Company nameAddressZip codePhone number
Capstone Finance 2332 McFarland Blvd E, Tuscaloosa, AL 35404 +1 (205) 349 - 1600
Clanton Financial Services Inc 220 7th St S, Clanton, AL 35045 +1 (205) 755 - 8034
Russellville Financial Inc 16109 US-43 A, Russellville, AL 35653 +1 (256) 332 - 0709
Quick Credit 3183 US-431, Roanoke, AL 36274
Liberty Tax and Loans 1378 S Eufaula Ave, Eufaula, AL 36027 +1 (334) 687 - 3207
Credit Central 1409 Gilmer Ave, Tallassee, AL 36078 +1 (334) 246 - 0073
Regional Finance 1123 N McKenzie St, Foley, AL 36535 +1 (251) 952 - 1100
Security Finance 14923 AL-59 b, Foley, AL 36535 +1 (251) 970 - 3777
Community Neighbor Bank 16 Camden Bypass, Camden, AL 36726 +1 (800) 422 - 0198
Union State Bank 3460 AL-9, Cedar Bluff, AL 35959

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Collinsville, AL, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Mountain Brook, AL, Payday Loan Companies in Northport, AL, Payday Loans in Opelika, AL, Payday Loans in Oxford, AL, Quick Loan in Pelham, AL, Payday Loan for Pell City, AL, Guaranteed Loans in Phenix City, AL and Quick Loan 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 Collinsville, AL.

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

35961

Are Payday Loans Legal In Collinsville, 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

Collinsville, AL payday loan calculator

Understanding Payday Loans in Collinsville, Alabama

If you find yourself short on cash and in need of a quick loan, you may be considering a payday loan. While payday loans can be a helpful option in a financial pinch, it is important to understand how they work and what the regulations are in Collinsville, Alabama.

What is a Payday Loan?

A payday loan is a short-term loan that is typically due on your next payday. These loans are usually for relatively small amounts, ranging from $100 to $1000, and are meant to help you cover unexpected expenses until your next paycheck arrives.

To apply for a payday loan, you will typically need to provide proof of income and a valid government-issued ID. Some lenders may also require a post-dated check, which they will cash on the due date of the loan.

Regulations in Alabama

In Alabama, payday loans are legal, but there are regulations in place to protect consumers. The maximum amount you can borrow is $500, and the loan term cannot exceed 31 days. Lenders are also required to cap the interest rate at 17.5% of the loan amount, which can add up quickly.

It is important to note that rollovers or extensions on payday loans are not allowed in Alabama. This means that if you are unable to pay back the loan on time, you will not be able to extend the loan and will instead be at risk of additional fees or legal action from the lender.

Interest Rates and Fees

As mentioned above, the maximum interest rate on payday loans in Alabama is 17.5% of the loan amount. This means that on a $100 loan, you would pay a maximum of $17.50 in interest.

However, it is important to note that some lenders may charge additional fees, such as application fees, processing fees, or late payment fees. These fees can add up quickly, so be sure to read the fine print and understand the total cost of the loan before agreeing to the terms.

Apply Now

If you are in need of a payday loan in Collinsville, Alabama, TheGuaranteedLoans can help. As a connector service, we work with a network of trusted lenders to match you with the best loan options for your needs.

To get started, simply fill out our online application and provide the necessary information. From there, we will connect you with potential lenders and help you find the loan that works best for you.

Interesting Facts and Statistics

  • In 2017, Alabama lawmakers declined to vote on a bill that would have imposed stricter regulations on payday lending in the state.
  • The average borrower in Alabama takes out an average of 8 payday loans per year.
  • As of 2020, there were over 1,100 payday loan storefronts in Alabama.

By understanding the regulations and risks associated with payday loans, you can make an informed decision and avoid taking on more debt than you can handle. If you need a payday loan in Collinsville, Alabama, turn to TheGuaranteedLoans for assistance in finding the right lender for you.

F.A.Q.

Can I renew or extend my payday loan in Collinsville, Alabama?

Some lenders may allow borrowers to renew or extend their payday loans in Collinsville, Alabama, but this option is not available in all cases. It is important to carefully read the terms of your loan agreement before deciding whether to renew or extend your loan.

What are payday loans in Collinsville, Alabama?

Payday loans in Collinsville, Alabama are short-term loans that are designed to provide borrowers with quick access to cash to cover unexpected expenses or urgent financial needs. These loans typically range from $100 to $500 and are due on the borrower's next payday, hence the name.