Payday Loans in Shorterville, Alabama

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

Company nameAddressZip codePhone number
Southeastern Commercial Finance 1500 1st Ave N 5, Birmingham, AL 35203 +1 (205) 250 - 8026
Check Exchange 2035 E 280 Byp, Phenix City, AL 36867 +1 (334) 298 - 6080
Check 'n Go 11437 Memorial Pkwy SW, Huntsville, AL 35803
Eagle Title Loans 616 US-31 F, Athens, AL 35611
Check Cashing Store 121 Piedmont Hwy, Centre, AL 35960 +1 (256) 927 - 9211
Advance America 2501 Government Blvd #5, Mobile, AL 36606
Alabama Title Loans, Inc. 10220 US-43, Creola, AL 36525
1st Franklin Financial 428 N Carlisle St Suite D, Albertville, AL 35950
Title Cash of Pratville Inc 315 S Memorial Dr, Prattville, AL 36067
Regional Finance 700 Airport Rd SW Suite E, Huntsville, AL 35802 +1 (256) 881 - 9899

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Shorterville, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Gadsden, AL, Payday Loans in Homewood, AL, Same Day Loans in Hoover, AL, Emergency Loan in Huntsville, AL, Payday Loans in Jasper, AL, Payday Loans in Madison, AL, Guaranteed Loans in Mobile, AL and Online 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 Shorterville, AL.

Are Payday Loans Legal In Shorterville, 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

Shorterville, AL payday loan calculator

Payday Loans in Shorterville, Alabama:

Getting a loan in Shorterville, Alabama, can be challenging, but not impossible. Payday loans are a popular short-term financial solution for many people in Alabama. Although they come with high-interest rates, they can be useful when you need quick cash for emergency expenses like medical bills or car repairs.

What Are Payday Loans?

A payday loan is a small short-term loan that you repay with your next paycheck. These loans are meant to help people with emergency expenses that they cannot afford to pay for with their current cash flow. Most payday loan applications are processed within 24 hours, and lenders do not require the borrower to have a good credit score or collateral.

Are Payday Loans Legal in Alabama?

Yes, payday loans are legal in Alabama. However, the state has set strict regulations on the fees and interest rates that lenders can charge. The maximum amount you can borrow in Alabama is $500, and lenders cannot charge more than 17.50% of the loan amount in fees and interest.

Applying for Payday Loans in Shorterville, Alabama

To apply for a payday loan in Shorterville, Alabama, you’ll need a few things:

  • A valid form of identification, like a driver’s license or state ID
  • A recent paycheck or proof of income
  • A bank account for the loan deposit and repayment

Once you have these documents, you’ll need to complete an application form providing your personal information and the loan amount you want to borrow. It’s important to read the loan agreement carefully before signing to understand the loan amount, fees, due date, and repayment terms.

Repaying Your Payday Loan

The repayment terms for payday loans in Shorterville, Alabama, vary by lender. In most cases, you’ll have to repay the loan with your next paycheck, usually within two weeks. If you cannot repay the loan on time, you can request a rollover or extension from the lender. However, this will come with additional fees and interest charges, so it’s important to repay your loan on time.

Interesting Facts and Statistics about Payday Loans in Shorterville, Alabama

  • The average interest rate for payday loans in Alabama is 456%, one of the highest in the country.
  • According to a report by the Alabama Appleseed Center for Law & Justice, payday lenders in Alabama make up to $240 million a year in fees from borrowers.
  • Shorterville, Alabama, has one of the highest poverty rates in the state, with nearly 30% of residents living below the poverty line.

Apply Now

Are you in need of a payday loan in Shorterville, Alabama? TheGuaranteedLoans can help you find a lender to meet your needs. Fill out our online application today to get started. Please note that TheGuaranteedLoans is not a direct lender and will only connect you with potential lenders in our network.

In conclusion, payday loans could be a viable option for Shorterville residents who need cash fast for emergency expenses. However, due to the high interest rates, it’s important to repay the loan on time and avoid extending the repayment term to avoid going deeper into debt. Please consult a financial advisor if you are unsure about the loan terms or your ability to repay the loan.

F.A.Q.

Is there a limit on the amount of fees and interest that a payday lender can charge in Shorterville, Alabama?

Yes, there is a limit on the amount of fees and interest that a payday lender can charge in Shorterville, Alabama. The state has specific regulations in place that limit the amount of fees and interest that can be charged on payday loans. Lenders are required to disclose the fees and interest charges associated with the loan upfront, and borrowers should carefully review these charges before agreeing to the loan.

Can a payday lender garnish my wages if I default on my loan in Shorterville, Alabama?

Yes, a payday lender can garnish your wages if you default on your loan in Shorterville, Alabama. If you are unable to repay your payday loan, the lender may be able to take legal action to collect the debt, including garnishing your wages. It is important to avoid defaulting on your loan if at all possible, as this can have serious consequences.