Payday Loans in Palmerdale, Alabama

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

Company nameAddressZip codePhone number
Stevews Fast Money Loans 765 Hwy 78 E, Sumiton, AL 35148 +1 (205) 255 - 6282
Title Cash 1409 S College St # 120, Auburn, AL 36832
World Finance 3418 20th Ave Ste J, Valley, AL 36854 +1 (334) 592 - 5022
TitleMax Title Loans 3117 Moffett Rd, Mobile, AL 36607 +1 (251) 471 - 3601
Lion Auto Finance,Inc 11527 Jones Rd, Houston, Texas +1 (713) 927 - 6123
Covington Credit 2411 College Ave, Jackson, AL 36545
World Finance Corporation 1409 2nd Ave E b, Oneonta, AL 35121
Regional Finance 959 Gilbert Ferry Rd SE Suite M, Attalla, AL 35954 +1 (256) 570 - 0388
LoanMaster 203 7th St S Suite A, Clanton, AL 35045 +1 (205) 755 - 1125
Security Finance 114 Calhoun St, Alexander City, AL 35010 +1 (256) 329 - 9395

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Palmerdale, AL, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Gadsden, AL, No Credit Check Loans in Homewood, AL, Payday Loans in Hoover, AL, Emergency Loan in Huntsville, AL, Payday Loan Without a Credit Check in Jasper, AL, 24-Hour Loan in Madison, AL, Payday 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 Palmerdale, AL.

Are Payday Loans Legal In Palmerdale, 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

Palmerdale, AL payday loan calculator

Understanding Payday Loans in Palmerdale, Alabama

Are you struggling to make ends meet this month? Unexpected bills can throw a wrench in even the most carefully planned budget. If you’re facing a cash crunch, a payday loan could be a solution for you. Alabama law allows for payday loans, making them a popular choice for many residents. Here’s what you need to know about payday loans in Palmerdale, Alabama.

What is a Payday Loan?

A payday loan is a small, short-term loan designed to cover unexpected expenses until your next paycheck. The repayment period typically lasts two to four weeks, and borrowers must pay back the loan plus interest and fees in a single payment. These loans are usually for amounts less than $500, but can vary depending on the lender and borrower’s income.

How Do Payday Loans Work in Palmerdale, Alabama?

Payday loans are legal in Alabama, but state law regulates them to protect consumers. Lenders must be licensed and are limited to charging a maximum of 17.5% interest per $100 borrowed. Additionally, borrowers can only take out one loan at a time, and the loan must have a minimum term of 10 days.

When you apply for a payday loan, the lender will ask for proof of income and employment, identification, and a post-dated check or electronic access to your checking account. If approved, you will receive the loan amount, minus the lender’s fees, in cash or deposited directly into your bank account.

On the due date, the lender will cash your check or electronically debit your account for the loan amount plus fees and interest. If you cannot repay the loan on time, you may be subject to additional fees and interest charges, and the lender may take legal action to collect the debt.

Benefits of Payday Loans

Payday loans can be a useful tool to help bridge a short-term cash gap. Some benefits of payday loans include:

  • Quick access to cash: Most payday lenders will fund your loan in as little as one business day. This can be a lifesaver in emergencies.
  • No credit check: Payday lenders typically don’t require a credit check, making these loans accessible to those with poor credit or no credit history.
  • Flexible repayment options: Some lenders allow you to extend your repayment term for a fee, which can give you more time to pay back the loan if needed.

Things to Consider Before Taking Out a Payday Loan

Before taking out a payday loan, it’s important to understand the risks involved. Payday loans can come with high fees and interest rates, and if you cannot repay the loan on time, you can end up in a cycle of debt. Here are some things to consider before taking out a payday loan:

  • High interest rates and fees: While Alabama law limits the interest rate to 17.5% per $100 borrowed, this can still add up to a high APR if you cannot repay the loan on time.
  • Debt cycle: If you cannot repay the loan on the due date, you may be faced with additional fees and interest charges, and the lender may take legal action to collect the debt. This can lead to a cycle of debt that can be difficult to break.
  • Alternative options: Before taking out a payday loan, consider other options such as asking for an advance from your employer or borrowing from family or friends.

Interesting Facts About Payday Loans in Palmerdale, Alabama

  • As of 2021, there are over 1,000 payday lenders operating in Alabama.
  • Alabama has one of the highest concentrations of payday lenders per capita in the United States.
  • The average payday loan amount in Alabama is $350.

Apply Now

Ready to apply for a payday loan in Palmerdale, Alabama? TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application today to get started. Remember, we are a connector service, not a direct lender, and we’ll do our best to facilitate your connection with potential lenders.

Note: While TheGuaranteedLoans strives to connect borrowers with reputable lenders, it’s important to carefully read the terms and conditions of any loan agreement before accepting. Understand the fees, interest rates, and repayment terms before agreeing to a loan.

F.A.Q.

What are the eligibility requirements for payday loans in Palmerdale, Alabama?

To be eligible for a payday loan in Palmerdale, Alabama, a borrower must have a regular source of income and an active checking account. In addition, the borrower must be at least 18 years old and a resident of Alabama.

How much can I borrow with a payday loan in Palmerdale, Alabama?

The maximum amount that can be borrowed with a payday loan in Palmerdale, Alabama is $500.