Payday Loans in Midway, Alabama

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

Company nameAddressZip codePhone number
Regional Finance 1811 Hwy 78 E Suite 110, Jasper, AL 35501 +1 (205) 384 - 0225
Republic Finance 9200 Hwy 119 Suite 1500, Alabaster, AL 35007 +1 (205) 621 - 8015
Check Into Cash 460 George Wallace Dr, Gadsden, AL 35903
World Finance 1243 Hwy 231 S, Troy, AL 36081 +1 (334) 566 - 7443
Complete Cash 317 Troy Edmundson Rd, Daleville, AL 36322 +1 (334) 503 - 0410
Regions Bank 1805 S Alabama Ave, Monroeville, AL 36460 +1 (251) 575 - 4169
First Citizens Bank & Trust 302 Prairie Ave, Eutaw, AL 35462 +1 (205) 372 - 3311
Pay Day Cash Advance 522 Liberty Hill Dr, Evergreen, AL 36401 +1 (251) 578 - 5055
World Finance Corporation 216 Walker Springs Rd #106, Jackson, AL 36545
Money To Lend Inc 460 E Main St, Dothan, AL 36301 +1 (334) 793 - 7777

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Midway, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Prichard, AL, Payday Loans in Sylacauga, AL, Bad Credit Loans in Talladega, AL, Payday Loans in Troy, AL, Emergency Loan in Trussville, AL, Payday Loans in Tuscaloosa, AL, Same Day Loans in Valley, AL and Payday Loans in Vestavia Hills, 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 Midway, AL.

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

36053

Are Payday Loans Legal In Midway, 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

Midway, AL payday loan calculator

Payday Loans in Midway, Alabama: A Comprehensive Guide

Living paycheck to paycheck is a common reality for many Americans. Unexpected expenses can easily throw a wrench into anyone’s budget, leaving them scrambling to make ends meet. For those in Midway, Alabama, payday loans are a popular solution to bridge the gap between paychecks. This guide aims to provide a comprehensive overview of payday loans in Midway and how they can help in times of financial need.

What are Payday Loans?

Payday loans are small, short-term loans that are intended to be paid back with the borrower’s next paycheck. Lenders typically require proof of income and a checking account to qualify for a payday loan. The maximum loan amount in Alabama is $500, and the loan term cannot exceed 31 days. Payday loans are legal in Alabama, but they are subject to certain regulations to protect consumers.

The Application Process

Applying for a payday loan in Midway is a relatively simple process. Most lenders offer online applications, making it easy to apply from the comfort of your own home. To apply, you will need to provide basic personal and financial information, including your name, address, Social Security number, and employment information. Lenders may also require proof of income and a checking account.

The Pros and Cons of Payday Loans

Like any type of loan, payday loans come with their own set of pros and cons. Some of the benefits of payday loans include:

  • Quick and easy approval process
  • No credit check required
  • Predictable repayment terms
  • No collateral required

However, there are also some potential drawbacks to be aware of:

  • High interest rates and fees
  • Short repayment periods can lead to a cycle of debt
  • Failure to repay can result in additional fees and damage to credit score

Maintaining Financial Responsibility

While payday loans can be a helpful tool in times of financial need, it’s important to use them responsibly. Borrow only what you need and can realistically repay with your next paycheck.

Additionally, be sure to read and understand all the terms and conditions of your loan before signing. Make note of the repayment date and ensure you have the funds available to repay the loan on time. Late payments can result in additional fees and damage to your credit score.

Interesting Facts and Statistics about Payday Loans in Midway, Alabama

  • In Alabama, the average payday loan amount is $350.
  • According to a 2020 report by Alabama Arise, payday lenders in Alabama charge an average annual percentage rate (APR) of 456 percent.
  • As of 2021, there were over 1,000 licensed payday and title lenders operating in Alabama.

Apply Now

If you’re in need of a payday loan in Midway, Alabama, TheGuaranteedLoans can help. Our online application process is simple and straightforward, and we’ll connect you with potential lenders who can provide the funds you need. Remember, we’re a connector service, not a direct lender, so you can trust us to facilitate a safe and secure connection with a reputable lender.

To get started, simply fill out our online application form. We’ll take care of the rest!

F.A.Q.

What happens if I can't repay a payday loan in Midway, Alabama?

If you are unable to repay a payday loan in Midway, Alabama, the lender may attempt to collect the outstanding balance through a variety of methods, including contacting you by phone, mail, or email, or by using a collections agency. In some cases, the lender may also take legal action against you.

Can I be arrested for not paying back a payday loan in Midway, Alabama?

No, you cannot be arrested for not paying back a payday loan in Midway, Alabama.