Payday Loans in Shelby, Alabama

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

Company nameAddressZip codePhone number
Total Vision Payday Advance 1847 University Dr, Huntsville, AL 35801
World Finance 416 S Wilson Dam Rd, Muscle Shoals, AL 35661 +1 (256) 389 - 3233
Title Cash 710 Douglas Ave, Brewton, AL 36426 +1 (251) 809 - 0671
BancorpSouth Bank 1028 Fort Dale Rd, Greenville, AL 36037 +1 (334) 382 - 6944
Instant Cash 106 E Commerce St, Greenville, AL 36037
Covington Credit 2701 Mall Rd #11, Florence, AL 35630
Cash Land 1233 Rucker Blvd # 3, Enterprise, AL 36330
Cash USA 1205 Ashville Rd # 100, Montevallo, AL 35115
Title Cash 4115 AL-14, Millbrook, AL 36054
Lifestyle Cash Advance 925 Decatur Hwy # 109, Fultondale, AL 35068

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Shelby, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Alabaster, AL, Same Day Loans in Albertville, AL, Payday Loan for Anniston, AL, Payday Loans in Athens, AL, Payday Loans in Atmore, AL, Quick Loan in Auburn, AL, Payday Loans in Bessemer, AL and Payday 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 Shelby, AL.

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

35143

Are Payday Loans Legal In Shelby, 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

Shelby, AL payday loan calculator

Payday Loans in Shelby, Alabama: Understanding and Applying

Payday loans are a type of short-term loan that can be helpful in certain situations. If you’re in need of cash quickly and don’t have access to other types of credit, a payday loan may be a viable option. This article will focus on payday loans in Shelby, Alabama.

What are Payday Loans?

Payday loans are typically small, short-term loans that are intended to be repaid on the borrower’s next payday. In Alabama, payday loans are legal and regulated by state law. The maximum loan amount is $500 and the maximum loan period is 31 days. The maximum finance charge is 17.5% of the amount borrowed. These regulations help protect borrowers and prevent them from getting trapped in a cycle of debt.

The Application Process

The application process for a payday loan in Shelby, Alabama is relatively simple. You will need to provide some basic information, including your name, address, employment status, and income. You will also need to provide your bank account information so that the lender can deposit the loan funds and withdraw the repayment amount on the due date.

Most lenders in Shelby, Alabama operate online, so you can complete the application from the comfort of your home. The application process typically takes only a few minutes to complete, and you can usually get a decision within a few hours.

Repayment

Repayment is typically due on your next payday, but some lenders may offer a longer repayment period. When the due date arrives, the lender will withdraw the loan amount and finance charges from your bank account. If you’re unable to repay the loan on the due date, you may be able to extend the loan for an additional fee. However, it’s important to note that this can result in additional finance charges and may make it harder to repay the loan in the future.

The Benefits of Payday Loans

  • Easy application process
  • No credit check required
  • Funds can be deposited directly into your bank account
  • Helpful for emergency expenses

The Risks of Payday Loans

  • High interest rates and fees
  • Can lead to a cycle of debt if not repaid on time
  • May not be the best option for long-term financial needs

Interesting Facts and Statistics

  • In Alabama, the average payday loan amount is $326
  • 60% of payday loan borrowers in Alabama renew their loans at least once
  • Payday lenders in Alabama charge an average of 456% APR

Apply Now

If you’re considering a payday loan in Shelby, Alabama, it’s important to understand the risks and benefits. Remember that TheGuaranteedLoans is a connector service, not a direct lender, and we will facilitate your connection with potential lenders. To apply for a payday loan, simply fill out our online application on the homepage and we’ll take care of the rest. Our network of lenders offers competitive rates and flexible repayment options, so you can get the cash you need without breaking the bank.

In conclusion

Payday loans can be a useful tool in certain situations, but it’s important to use them responsibly. Make sure you understand the terms and conditions of the loan before accepting it, and only borrow what you can afford to repay. With careful consideration and responsible borrowing, a payday loan can help you bridge the gap between paydays and get back on track financially.

F.A.Q.

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

If you are unable to repay your payday loan in Shelby, 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 Shelby, Alabama?

Yes, there are restrictions on the number of payday loans that a borrower can take out in Shelby, 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.