Payday Loans in Forest Home, Alabama

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

Company nameAddressZip codePhone number
Alabama Title Loans, Inc. 2901 University Dr NW, Huntsville, AL 35816 +1 (256) 536 - 0993
Local Cash Advance-Scottsboro 1603 S Broad St, Scottsboro, AL 35768 +1 (256) 259 - 9777
Moneytree Athens, AL 35611
Renasant Bank 3216 20th Ave, Valley, AL 36854 +1 (334) 768 - 3461
Express Loans Co 1477 Center Point Pkwy, Birmingham, AL 35215 +1 (205) 853 - 3339
1 Stop Cash for Gold 2614 Citizens Pkwy e, Selma, AL 36701
Great American Loans 993 S Alabama Ave, Monroeville, AL 36460
Cash Max IV 602 Springville Rd, Birmingham, AL 35215
Beaverton Kia 12520 SW Canyon Rd, Beaverton, Oregon +1 (503) 526 - 2131
BB&T 255 5th St, Ashville, AL 35953 +1 (205) 594 - 4141

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Forest Home, 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, Payday Loan for Northport, AL, 24-Hour Loan in Opelika, AL, Bad Credit Loans in Oxford, AL, Bad Credit Loans in Pelham, AL, Emergency Loan in Pell City, AL, Payday Loan for Phenix City, AL and Payday 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 Forest Home, AL.

Are Payday Loans Legal In Forest Home, 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

Forest Home, AL payday loan calculator

Payday Loans in Forest Home, Alabama

If you find yourself in a tight financial situation and need quick cash to cover unexpected expenses, you might be considering a payday loan. In Alabama, payday loans are legal, and they can be a helpful option for those who need immediate cash. In this article, we’ll explore how payday loans work in Forest Home, Alabama, and what you need to know before applying.

What are Payday Loans?

Payday loans are short-term loans that are typically due on your next payday. These loans are meant to help you cover unexpected expenses, such as car repairs or medical bills, when you don’t have enough cash on hand. To apply for a payday loan, you typically need to provide proof of income and a valid government-issued ID.

How Do Payday Loans Work in Alabama?

As we mentioned earlier, payday loans are legal in Alabama. The maximum loan amount in the state is $500, and lenders can charge up to 17.5% of the loan amount as a finance charge. The repayment term for payday loans in Alabama is between 10 and 31 days.

It’s essential to note that Alabama law also requires lenders to offer a repayment plan to borrowers who are unable to repay their loans on time. This plan allows borrowers to repay the loan in installments over a period of 90 days.

Benefits of Payday Loans

  • Quick access to cash
  • Easy application process
  • No credit check required
  • Funds can be used for any purpose

Risks of Payday Loans

  • High interest rates and fees
  • Short repayment term
  • Potential for cycle of debt
  • Defaulting on the loan can result in legal action

Interesting Facts and Statistics

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

  • Alabama has more payday lenders per capita than any other state in the US.
  • Approximately 1.7 million payday loans were taken out in Alabama in 2018.
  • The average annual interest rate on a payday loan in Alabama is 456%.
  • Most payday loan borrowers in Alabama have low or moderate incomes and are unable to get credit from traditional lenders.

Apply Now

If you’re interested in applying for a payday loan in Forest Home, Alabama, you can fill out an application on our website. At TheGuaranteedLoans, we’re a connector service that works with a network of reputable lenders to help you find the best loan option for your needs. Remember to borrow responsibly and only take out a loan if you can afford to repay it on time.

In conclusion, payday loans can be a helpful option for those who need quick cash in Forest Home, Alabama. However, it’s essential to understand the risks and benefits before applying. By following the tips in this article and borrowing responsibly, you can make an informed decision about whether a payday loan is the right choice for your situation.

F.A.Q.

What are the fees and interest charges associated with payday loans in Forest Home, Alabama?

The fees and interest charges associated with payday loans in Forest Home, Alabama are regulated by state law. Lenders are limited in the amount of fees and interest they can charge on payday loans, and these charges are typically expressed as a percentage of the amount borrowed. For example, a lender may charge a fee of $15 for every $100 borrowed.

Can I renew or rollover my payday loan in Forest Home, Alabama?

No, payday loans in Forest Home, Alabama cannot be renewed or rolled over. Borrowers are only allowed to take out one payday loan at a time, and once the loan is repaid, they cannot take out another loan until they have waited at least seven days.