Payday Loans in Honoraville, Alabama

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

Company nameAddressZip codePhone number
Always Money 1803B University Dr, Huntsville, AL 35801 +1 (256) 427 - 6848
World Finance 1447 7th St S, Clanton, AL 35045 +1 (205) 755 - 5000
TitleMax Title Loans 233 Cox Creek Pkwy, Florence, AL 35630 +1 (256) 764 - 9091
First Bank of Alabama 44388 AL-21, Munford, AL 36268 +1 (256) 358 - 9000
Cash USA 800 US Hwy 72 W # M, Athens, AL 35611
EZ Money Payday & Title Loans 6816 1st Ave N, Birmingham, AL 35206
Regions Bank 582 4th Ave, York, AL 36925 +1 (205) 376 - 6950
First Cash Express LLC 263 W Spring St, Florence, AL 35630 +1 (256) 760 - 9951
J&M Trading Post & Pawn 44890 AL-17, Vernon, AL 35592 +1 (205) 695 - 7725
McIntosh Chemical Federal CU 7895 US-43, McIntosh, AL 36553 +1 (251) 944 - 8034

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Honoraville, 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

Honoraville, AL payday loan calculator

Understanding Payday Loans in Honoraville, Alabama

Payday loans are a popular type of short-term loan that is available to borrowers in Honoraville, Alabama. These loans provide quick access to cash, which can be useful for people facing unexpected expenses or emergencies. While payday loans can be helpful in certain situations, it is essential to understand their features, requirements, and risks before applying for one.

How Does a Payday Loan Work?

Payday loans are designed to be short-term loans that are typically due on the borrower’s next payday. When a borrower applies for a payday loan, they must provide the lender with proof of income, a valid ID, and a post-dated check. The check is typically made out for the amount borrowed plus fees and interest charges. If the borrower cannot repay the loan in full on the due date, the lender can cash the check and collect the owed amount.

Payday Loan Requirements in Honoraville, Alabama

In Honoraville, Alabama, payday loans are legal, but there are regulations that companies must follow to operate in the state. The maximum loan amount is $500, and the maximum loan term is 31 days. The maximum finance charge for a $100 payday loan is $17.50, which equals an annual percentage rate (APR) of 456.25%.

To qualify for a payday loan in Honoraville, Alabama, borrowers must meet specific requirements. They must be at least 18 years old, provide a valid government-issued ID, have an active bank account, and provide proof of income.

The Risks of Payday Loans

While payday loans can be useful for people facing financial emergencies, they also come with significant risks. Many payday lenders charge high fees and interest rates, which can trap borrowers in a cycle of debt. If a borrower cannot repay the loan on the due date, they may be charged additional fees and interest charges, making it challenging to escape the debt.

Applying for a Payday Loan in Honoraville, Alabama

If you’re considering a payday loan in Honoraville, Alabama, it’s important to compare lenders and understand the terms of each loan offer. TheGuaranteedLoans is a connector service that can help you find a reputable lender in Honoraville, Alabama. Our platform allows you to fill out an online application easily, and we’ll connect you with a lender that meets your needs. It’s important to remember that TheGuaranteedLoans is not a direct lender but a connector service that facilitates connections with potential lenders.

Interesting Facts and Statistics

  • In 2020, the average payday loan in Alabama was $350.
  • Approximately 18.5% of all Alabama households have used a payday loan in the last 12 months.
  • Alabama has one of the highest payday loan usage rates in the United States.
  • Payday loans can come with an APR of up to 456.25% in Alabama.

Apply Now

If you need a payday loan in Honoraville, Alabama, apply now through TheGuaranteedLoans. Our platform is secure, easy to use, and can connect you with reputable lenders in your area. Remember, payday loans can be helpful in the right situation, but it’s crucial to understand the costs and risks before applying for one.

F.A.Q.

What are payday loans in Honoraville, Alabama?

Payday loans in Honoraville, Alabama are short-term, high-interest loans that are designed to be repaid on the borrower's next payday. These loans are often used to cover unexpected expenses or to bridge the gap between paychecks.

How do payday loans in Honoraville, Alabama work?

To take out a payday loan in Honoraville, Alabama, a borrower typically writes a check for the amount of the loan plus a fee, which the lender holds until the borrower's next payday. On that date, the borrower has the option to either repay the loan in full, including the fee, or roll the loan over for another term by paying only the fee.