Payday Loans in Peterson, Alabama

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

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

Company nameAddressZip codePhone number
Lifestyle Cash Advance 1420 McFarland Blvd #5, Northport, AL 35476
Parker Johnstone's Wilsonville Honda 30600 SW Parkway Ave, Wilsonville, Oregon +1 (503) 985 - 6958
Check Into Cash 965 Hwy 80 West, Suite 200, Demopolis, AL 36732
Cash Express 11110 AL-157, Moulton, AL 35650
Always Money 12993 Wintzell Ave # B, Bayou La Batre, AL 36509
LoanMax Title Loans 1010 6th Ave SE, Decatur, AL 35601 +1 (256) 274 - 4350
Regions Mortgage 13316 Co Rd 14, Gilbertown, AL 36908
West Alabama Bank & Trust 245 Main St S, S Main St, Gordo, AL 35466 +1 (205) 364 - 8223
Check Into Cash 1726 Cherokee Ave SW b, Cullman, AL 35055
World Finance 80 McFarland Blvd Ste 6, Northport, AL 35476 +1 (205) 247 - 7878

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Peterson, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Cullman, AL, Payday Loans in Daphne, AL, Payday Loans in Decatur, AL, Short-term Loans in Dothan, AL, Payday Loan for Enterprise, AL, Payday Loans in Eufaula, AL, Payday Loans in Florence, AL and Quick Loan in Foley, 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 Peterson, AL.

Are Payday Loans Legal In Peterson, 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

Peterson, AL payday loan calculator

Everything You Need to Know About Payday Loans in Peterson, Alabama

Payday loans have become an increasingly popular way for people to manage unexpected expenses or make ends meet between paychecks. If you live in Peterson, Alabama, you may be wondering if payday loans are legal and how they work. In this article, we’ll give you a comprehensive overview of payday loans in Peterson and provide some tips to help you make the best decision for your financial situation.

What are Payday Loans?

Payday loans are short-term loans (typically two weeks) that are designed to help people bridge the gap between paychecks. They are often used to cover unexpected expenses like car repairs or medical bills. Payday loans in Alabama typically range from $100 to $500 and carry an average interest rate of 456%.

Are Payday Loans Legal in Peterson, Alabama?

Yes, payday loans are legal in Peterson, Alabama. The state of Alabama has laws governing payday lending, including the Alabama Deferred Presentment Services Act (Alabama Code § 5-18A-1 et seq.). These laws regulate the amount of money a borrower can receive, the length of the loan term, and the maximum amount of interest that can be charged.

How Do Payday Loans Work?

When you take out a payday loan, you’ll typically provide the lender with a postdated check or authorization to electronically debit your bank account on your next payday. The lender will provide you with the loan amount, plus interest and fees, in cash or deposited directly into your bank account.

When your next payday arrives, the lender will deposit the check or debit your account for the loan amount plus interest and fees. If you don’t have sufficient funds to cover the payment, you may be charged additional fees and interest and your credit score may be negatively impacted.

What Are the Pros and Cons of Payday Loans?

Like any financial product, payday loans have both pros and cons. Here are some of the advantages and disadvantages of payday loans:

  • Pros
    • They are easy to get and don’t require a credit check
    • They can be helpful in emergency situations
    • The application process is fast and easy
  • Cons
    • They carry extremely high interest rates
    • They can trap borrowers in a cycle of debt if not used responsibly
    • Defaulting on a payday loan can negatively impact credit scores

It’s important to carefully consider the pros and cons of payday loans before deciding whether to take one out. If you do decide to take out a payday loan, make sure you have a plan to repay it in full on your next payday.

Interesting Facts and Statistics About Payday Loans in Peterson, Alabama

  • Payday loans are legal in Alabama, but they have been heavily regulated in recent years.
  • In 2019, Alabama lawmakers passed reform legislation that limited the amount of interest payday lenders can charge. Under the new law, lenders can only charge up to 28% APR for payday loans.
  • Despite the regulatory changes, Alabama still has one of the highest rates of payday loan usage in the country.
  • The typical payday borrower in Alabama takes out eight loans per year, with an average loan amount of $306.

Apply Now with TheGuaranteedLoans

If you’re considering a payday loan in Peterson, Alabama, TheGuaranteedLoans can help you find the right lender for your needs. We’re a connector service, not a direct lender, and we work with a network of reputable lenders who can provide you with the loan you need at a fair rate.

Our online application process is fast and easy, and you can find out if you’re approved within minutes. Apply now and take control of your finances today!

F.A.Q.

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

Payday loans in Peterson, 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 Peterson, Alabama?

The interest rates on payday loans in Peterson, 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.