Payday Loans in Morris, Alabama

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

Company nameAddressZip codePhone number
Speedy Cash 1129 Dr M L K Jr Expy, Andalusia, AL 36420
Listerhill Credit Union 13400 US-43, Russellville, AL 35654 +1 (256) 332 - 7755
Fast Cash 11170 AL-75, Henagar, AL 35978
Regional Finance 1811 Hwy 78 E Suite 110, Jasper, AL 35501 +1 (205) 384 - 0225
Check 'n Go 700 Pratt Ave NW, Huntsville, AL 35801
Emergi-Cash 3909-D, Pepperell Pkwy, Opelika, AL 36801 +1 (334) 737 - 3770
Alabama Title Loans, Inc. 2233 E South Blvd, Montgomery, AL 36116 +1 (334) 288 - 7181
Check n Go 3214 20th Ave B, Valley, AL 36872 +1 (334) 219 - 3722
First State Loans of Hartselle, Inc 240 US-31 51, Hartselle, AL 35640 +1 (256) 751 - 0300
Advance America 1906 Glenn Blvd SW #800, Fort Payne, AL 35968

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Morris, 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 Loan Without a Credit Check in Albertville, AL, Payday Loans in Anniston, AL, Same Day Loans in Athens, AL, Payday Loans in Atmore, AL, Guaranteed Loans in Auburn, AL, Payday Loan Without a Credit Check in Bessemer, AL and Same Day Loans 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 Morris, AL.

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

35116

Are Payday Loans Legal In Morris, 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

Morris, AL payday loan calculator

Payday Loans in Morris, Alabama: A Comprehensive Guide

If you are a resident of Morris, Alabama, and facing a financial emergency, getting a payday loan may seem like a quick and easy fix. Payday loans offer short-term financial assistance and can be a lifesaver in times of unexpected expenses.

However, payday loans have a high-interest rate and can lead to a cycle of debt if not managed carefully. Before taking out a payday loan in Morris, Alabama, it is essential to understand the terms of the loan and the laws governing payday lending.

The Basics of Payday Loans in Morris, Alabama

Payday loans are legal in Alabama, including Morris. These loans are designed to help individuals with short-term financial needs and are typically due on the borrower’s next payday.

In Morris, Alabama, payday lenders can charge the maximum annual percentage rate (APR) of 456.25%. The loan amount cannot exceed $500, and the term cannot exceed 31 days. A borrower can take out only one payday loan at a time and can renew the loan once.

If a borrower is unable to pay back the loan on time, the lender can charge a maximum of 3% per month (or 36% per year) after the loan becomes due.

How to Apply for a Payday Loan in Morris, Alabama

To apply for a payday loan in Morris, Alabama, you need to provide proof of income, a valid government-issued ID, and proof of residency. You can apply in person at a payday lending store or online.

If you apply online, the lender may require you to provide additional information, such as your banking information. Once you submit your application, the lender will review it and let you know if you are approved. If you are approved, the funds will be deposited directly into your bank account.

The Risks of Payday Loans

While payday loans can be a helpful tool in a financial emergency, they come with significant risks. Due to their high-interest rates and short repayment terms, payday loans can trap borrowers in a cycle of debt.

If you are unable to pay back the loan on time, the lender may charge additional fees and interest, which can make it even harder to pay back the loan. Moreover, defaulting on a payday loan can hurt your credit score and make future borrowing more difficult.

Interesting Facts and Statistics about Payday Loans in Morris, Alabama

– Alabama ranks among the top ten states for the highest concentration of payday lenders in the country.

– In 2019, Alabamans took out approximately 2.2 million payday loans, with an average loan amount of $326.

– The average APR for payday loans in Alabama is 300-500%.

– In Morris, Alabama, there are several payday lending stores, including Check Into Cash and Advance America.

Apply Now for a Payday Loan in Morris, Alabama

If you have a financial emergency and need a payday loan in Morris, Alabama, The Guaranteed Loans can help. We are a connector service that works with a network of lenders who may be able to provide you with the cash you need.

To apply, simply fill out our online application, and we will match you with potential lenders. Keep in mind that we are not a direct lender and cannot guarantee approval or loan terms. However, we can help you connect with reputable lenders who can provide you with the financial assistance you need.

The Bottom Line

Getting a payday loan in Morris, Alabama, can be a viable option for individuals who need short-term financial assistance. However, it is essential to understand the risks and terms of the loan and borrow responsibly. If you are considering a payday loan, make sure you have a plan to pay it back on time and avoid falling into a cycle of debt.

F.A.Q.

What are payday loans in Morris, Alabama?

Payday loans in Morris, 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 Morris, Alabama work?

To take out a payday loan in Morris, 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.