Payday Loans in Odenville, Alabama

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

Company nameAddressZip codePhone number
Acceptance Loan Company, Inc. 3494 SpringHill Ave, Mobile, AL 36608 +1 (251) 345 - 0590
First Citizens Bank & Trust 302 Prairie Ave, Eutaw, AL 35462 +1 (205) 372 - 3311
Western Finance 2542 Mall Rd, Florence, AL 35630
Security Finance 4880 US Hwy 231, Wetumpka, AL 36092
Fast Cash of Hazel Green 12819 US-231, Hazel Green, AL 35750 +1 (256) 829 - 1883
1st Franklin Financial 4662 US-231, Wetumpka, AL 36092
Cash Monster, Inc. 705 Martin St N, Pell City, AL 35125
Check Into Cash 1104 A South Gilmer Avenue, Lanett, AL 36863
First-Sun Finance 2328 McFarland Blvd E, Tuscaloosa, AL 35404 +1 (205) 349 - 1530
Metro Bank 1022 Coleman St, Heflin, AL 36264 +1 (256) 463 - 8900

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Odenville, 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 Loans in Northport, AL, Online Loans in Opelika, AL, No Credit Check Loans in Oxford, AL, Payday Loans in Pelham, AL, Payday Loan Without a Credit Check in Pell City, AL, Payday Loan for Phenix City, AL and Quick Loan 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 Odenville, AL.

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

35120

Are Payday Loans Legal In Odenville, 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

Odenville, AL payday loan calculator

Payday Loans in Odenville, Alabama: What You Need to Know

If you live in Odenville, Alabama, and you are in need of short-term financial help, you may be considering a payday loan. These loans can be helpful in times of emergency, but they can also be risky and potentially lead to debt. It is important to understand the laws and regulations surrounding payday loans in Odenville, Alabama, and to make sure you are making an informed decision.

What are Payday Loans?

Payday loans are short-term loans that are typically due on your next payday. They are meant to help you bridge the gap between paychecks when unexpected expenses arise, such as medical bills or car repairs. In Odenville, Alabama, payday loans are legal, but there are specific regulations that lenders must follow.

Regulations in Odenville, Alabama

Under Alabama law, payday lenders in Odenville are allowed to lend up to $500 to borrowers. The loan term cannot be less than 10 days or more than 31 days. Lenders are also allowed to charge up to 17.5% of the loan amount as a finance charge, which equates to a maximum APR of 456.25%.

It is important to note that Alabama does not have a cooling-off period for payday loans. This means that if you take out a loan and want to cancel it, you will not have a certain amount of time to do so without penalty. Additionally, Alabama does not have a database that tracks payday loans, so lenders cannot check to see if a borrower already has a loan outstanding with another lender.

Pros and Cons of Payday Loans

Like any financial product, payday loans have both pros and cons. Some of the pros include:

  • The ability to get quick cash
  • No credit check required
  • No collateral needed

However, there are also a number of cons to consider:

  • High interest rates and fees
  • Short repayment terms
  • Potential to trap borrowers in debt cycle

It is important to carefully consider these pros and cons before deciding whether or not to take out a payday loan.

Interesting Facts and Statistics about Payday Loans in Odenville, Alabama

  • In 2019, over 220,000 payday loans were taken out in Alabama for a total of over $139 million in loans.
  • The average payday loan amount in Alabama is $350.
  • Alabama has over 1,200 payday lending locations.
  • The average APR for a payday loan in Alabama is 300%.

Apply Now

If you have carefully considered the pros and cons of payday loans and have decided that one is the right choice for you, TheGuaranteedLoans can help connect you with potential lenders. It is important to remember that TheGuaranteedLoans is a connecting service, not a direct lender. We can help you find a lender that fits your needs and facilitate the connection between you and the lender. To get started, fill out our online application and receive a decision within minutes.

Conclusion

Payday loans can be a helpful source of financial assistance in times of emergency, but they can also be risky and lead to debt if not used carefully. It is important to understand the regulations surrounding payday loans in Odenville, Alabama, and to carefully consider the pros and cons before deciding whether or not to take out a loan. If you do decide to take out a loan, TheGuaranteedLoans can help connect you with potential lenders to get the cash you need.

F.A.Q.

How long do I have to repay a payday loan in Odenville, Alabama?

Payday loans in Odenville, Alabama are typically due on the borrower's next payday. However, some lenders may offer longer repayment terms, depending on the borrower's circumstances.

What are the interest rates on payday loans in Odenville, Alabama?

The interest rates on payday loans in Odenville, Alabama can vary depending on the lender and the borrower's credit history. In general, these loans carry higher interest rates than traditional bank loans.