Payday Loans in Saint Elmo, Alabama

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

Company nameAddressZip codePhone number
Advance America 189 Baldwin Sq, Baldwin Square Shopping Center, Fairhope, AL 36532
Woodforest Bank 15445 AL-24, Moulton, AL 35650 +1 (256) 974 - 6764
Sun Loan Company 6273 US-431, Albertville, AL 35950
BankFirst 30966 US-278, Addison, AL 35540 +1 (256) 747 - 1406
QC Financial Services 3606 Hwy 78 #200, Jasper, AL 35501
Pronto Pawn - Theodore 5790 US-90, Theodore, AL 36582 +1 (251) 653 - 5151
Covington Credit 1605 Beltline Rd SW Ste D-10, Decatur, AL 35601 +1 (256) 355 - 0224
Security Finance 521 E Battle St East, Talladega, AL 35160 +1 (256) 761 - 9003
Check n Go 4922 Highway 78, West Dr, Oxford, AL 36203 +1 (256) 832 - 3700
Chattahoochee Federal Credit Union 519 Fob James Dr, Valley, AL 36854

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Saint Elmo, AL, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Gadsden, AL, Payday Loans in Homewood, AL, Quick Loan in Hoover, AL, Online Loans in Huntsville, AL, No Credit Check Loans in Jasper, AL, Payday Loans in Madison, AL, Payday Loan for 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 Saint Elmo, AL.

Are Payday Loans Legal In Saint Elmo, 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

Saint Elmo, AL payday loan calculator

Payday loans are a popular type of loan option in Saint Elmo, Alabama. These loans are short-term and designed to help borrowers get through a financial emergency. In Alabama, payday loans are legal, but there are strict regulations in place to protect consumers. In this article, we will take a closer look at payday loans in Saint Elmo, Alabama, and provide you with all the information you need to know before applying for one.

What are Payday Loans?

Payday loans are a type of short-term loan that borrowers can use to cover unexpected expenses between paychecks. Typically, these loans are due in full on the borrower’s next payday. In Saint Elmo, Alabama, payday loans can range from $100 to $500, but the amount can vary depending on the lender and the borrower’s financial situation. Payday loans also come with high-interest rates and fees, making it important for borrowers to repay the loan in full on the due date.

The Application Process

The application process for payday loans in Saint Elmo, Alabama is relatively simple. Borrowers must be at least 18 years old, have a valid ID, and provide proof of income. Most lenders will also require a checking account in good standing. Once approved, borrowers can receive the funds in as little as 24 hours.

Repayment Process

Repaying a payday loan in Saint Elmo, Alabama is just as important as the application process. The loan is typically due on the borrower’s next payday, which is usually within two weeks. If a borrower cannot repay the loan in full, they can choose to roll over the loan for an additional fee. However, this can lead to a cycle of debt, making it important to repay the loan on time.

Benefits of Payday Loans

  • Quick access to cash when you need it most
  • No credit check required
  • Straightforward application process

Drawbacks of Payday Loans

  • High-interest rates and fees
  • May lead to a cycle of debt if not repaid on time
  • Not a long-term financial solution

Interesting Facts about Payday Loans in Saint Elmo, Alabama

  • According to a report by The Pew Charitable Trusts, in Alabama, the average payday loan borrower takes out eight loans per year, with an average of $374 per loan.
  • Alabama has one of the highest maximum interest rates for payday loans in the country, with a maximum interest rate of 17.5% of the amount borrowed.
  • In 2019, the Alabama Senate passed a bill that would have given borrowers more time to repay payday loans, but the bill ultimately failed to become law.

Apply Now with TheGuaranteedLoans

If you find yourself in need of a payday loan in Saint Elmo, Alabama, TheGuaranteedLoans can help. We are a connector service, not a direct lender, and we specialize in helping borrowers find the right payday loan lender. Our online application is simple and secure, and we work with a network of trusted lenders to ensure that you receive the best possible loan terms. Apply now and get the cash you need to handle your financial emergency.

Remember, payday loans are not a long-term financial solution, and it is important to repay them on time to avoid a cycle of debt. However, if used responsibly, they can be a helpful tool in managing unexpected expenses. We hope this article has provided you with valuable information about payday loans in Saint Elmo, Alabama, and that you are now equipped to make the best financial decision for your situation.

F.A.Q.

What should I do if I can't repay my payday loan in Saint Elmo, Alabama?

If you are unable to repay your payday loan in Saint Elmo, Alabama, it is important to contact your lender as soon as possible to discuss your options. Depending on the lender and your individual circumstances, you may be able to negotiate a repayment plan or extend the due date of your loan. It is important to avoid defaulting on your loan, as this can have serious consequences, including damage to your credit score and potential legal action.

Are there any restrictions on the number of payday loans I can take out in Saint Elmo, Alabama?

Yes, there are restrictions on the number of payday loans that a borrower can take out in Saint Elmo, Alabama. Borrowers are only allowed to take out one payday loan at a time, and they must wait at least seven days before taking out another loan.