Payday Loans in Gaylesville, Alabama

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

Company nameAddressZip codePhone number
New Horizons Credit Union 6320 Airport Blvd, Mobile, AL 36608 +1 (251) 361 - 3240
TitleMax Title Loans 1127 W Meighan Blvd, Gadsden, AL 35901 +1 (256) 543 - 3330
Covington Credit 1527 S Broad St, Scottsboro, AL 35768
Check 'n Go 2019 6th Ave SE STE 10, Decatur, AL 35601
Regional Finance 2140 E University Dr Suite E, Auburn, AL 36830 +1 (334) 887 - 4440
Southern States Bank 21044 Main St, Ranburne, AL 36273 +1 (256) 568 - 2265
New Hope Auto Sales 6528 Lower York Rd, New Hope, Pennsylvania +1 (215) 862 - 9555
ISLAND CASH 1545 Gulf Shores Pkwy, Gulf Shores, AL 36542
Speedee Cash 431 Douglas Ave, Brewton, AL 36426
Advance America 7345 US-431 C, Albertville, AL 35950 +1 (256) 878 - 0532

Payday Loan Companies in Nearby Cities

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

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

35973

Are Payday Loans Legal In Gaylesville, 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

Gaylesville, AL payday loan calculator

What You Need to Know About Payday Loans in Gaylesville, Alabama

If you’re facing a financial emergency in Gaylesville, Alabama, and need quick cash, a payday loan can help. Payday loans are a useful financial tool for people who need money fast but don’t have the credit score to qualify for a traditional loan from a bank or credit union.

In Alabama, payday loans are legal, meaning you can apply for and receive a payday loan in Gaylesville. However, before you commit to a payday loan, it’s essential to understand how they work, the benefits and drawbacks, and your legal rights as a borrower.

What is a Payday Loan?

A payday loan is a short-term, high-interest loan designed to help you cover unexpected financial expenses, such as medical bills or car repairs. Payday loans are meant to be repaid in full on your next payday, hence the name payday loan.

In Gaylesville, Alabama, payday lenders offer loans up to $500 with loan fees capped at 17.5% of the loan amount. The maximum loan term is 31 days. If you’re unable to repay your payday loan on time, you may be charged additional fees and higher interest rates.

The Benefits of Payday Loans in Gaylesville

Payday loans offer several advantages, including:

  • Fast Approval: You can receive approval for a payday loan within minutes of submitting your application. If you’re approved, you can receive the loan amount in your bank account the next business day.
  • No Credit Check: Payday lenders typically don’t conduct a credit check before approving your loan application, making payday loans accessible to people with poor credit or no credit history.
  • Fewer Requirements: Applying for a payday loan is simple, and lenders typically require only proof of income, a bank account, and a government-issued ID.
  • Flexibility: Payday loans can be used for any purpose, from paying rent to covering unexpected medical bills.

The Drawbacks of Payday Loans in Gaylesville

While payday loans offer quick access to cash, they also come with significant drawbacks, including:

  • High-Interest Rates: Payday loans carry high-interest rates, which can lead to significant debt if you’re unable to repay the loan on time.
  • Additional Fees: If you’re unable to repay your payday loan on time, you may be charged additional fees and higher interest rates, leading to a cycle of debt.
  • Risk of Predatory Lending: Some payday lenders engage in predatory lending practices, such as charging excessive fees and interest rates or encouraging borrowers to take out more debt than they can afford.

Your Legal Rights as a Payday Loan Borrower in Gaylesville, Alabama

As a borrower in Gaylesville, Alabama, you have legal rights when it comes to payday loans. Payday lenders must be licensed to operate in the state and follow state regulations and guidelines. Alabama law also provides several protections for payday loan borrowers, including:

  • Loan caps and term limits. Payday lenders in Alabama must cap loans at $500 with a maximum loan term of 31 days.
  • Past-due balance limits. If you’re unable to repay your payday loan on time, lenders can only charge you up to 3% of the past-due balance for each month that your loan is delinquent.
  • Protections against harassment. Payday lenders are prohibited from harassing or threatening borrowers or using false or misleading information to collect on a loan.

Interesting Facts and Statistics About Payday Loans in Gaylesville, Alabama

  • According to the Alabama State Banking Department, there were 1.6 million payday loans issued in Alabama in 2019, with consumers paying over $160 million in fees.
  • Alabama has the highest concentration of payday lenders in the United States, with over 1,000 payday lender storefronts operating in the state.
  • The average payday loan borrower in Alabama takes out 8 loans per year, with the average loan size being $350.

Apply Now With TheGuaranteedLoans

At TheGuaranteedLoans, we understand that unexpected financial emergencies can happen to anyone. That’s why we offer a simple, fast, and secure way to apply for payday loans online. We work with a network of trusted lenders to help you find the best loan for your needs.

With TheGuaranteedLoans, you can apply for a payday loan in Gaylesville, Alabama, and receive approval within minutes. Our online application process is straightforward, and you can complete it from the comfort of your home.

Remember, TheGuaranteedLoans is not a direct lender. We are a connector service that will help facilitate your connection with potential lenders. Fill out our online application today, and get the cash you need to cover your unexpected expenses.

F.A.Q.

What is the maximum APR for payday loans in Gaylesville, Alabama?

The maximum APR for payday loans in Gaylesville, Alabama is 456%.

What are the fees associated with payday loans in Gaylesville, Alabama?

The fees associated with payday loans in Gaylesville, Alabama are determined by the amount of the loan and the length of the loan term. Typically, the fee is a flat rate that is a certain percentage of the loan amount, such as $15 per $100 borrowed.