Payday Loans in Weogufka, Alabama

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

Company nameAddressZip codePhone number
1st Franklin Financial 704 E Battle St Suite E, Talladega, AL 35160 +1 (256) 362 - 3600
FNB Bank 51616 AL-277, Bridgeport, AL 35740 +1 (256) 495 - 2236
Cash Express 260 McCurdy Ave N 3, Rainsville, AL 35986 +1 (256) 867 - 2459
West Alabama Bank & Trust 211 Lafayette St, Livingston, AL 35470 +1 (205) 652 - 9636
IBERIABANK 613 Montgomery Hwy, Vestavia Hills, AL 35216 +1 (205) 803 - 5988
Title Cash 700 Highway 31 SW, Hartselle, AL 35640 +1 (256) 751 - 2835
Sun Loan Company 201 Veterans Dr 105, Scottsboro, AL 35768 +1 (256) 259 - 2710
Peoples Bank of Alabama 12081 Hwy 69 N, Suite D, Baileyton, AL 35019 +1 (256) 796 - 7082
Western Finance 228 Town Mart, Clanton, AL 35045
Republic Finance 127 Ana Dr, Florence, AL 35630 +1 (256) 765 - 3748

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Weogufka, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Alabaster, AL, Short-term Loans in Albertville, AL, Payday Loans in Anniston, AL, Guaranteed Loans in Athens, AL, Payday Loan for Atmore, AL, Payday Loans in Auburn, AL, Payday Loans in Bessemer, AL and Payday Loan Without a Credit Check 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 Weogufka, AL.

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

35183

Are Payday Loans Legal In Weogufka, 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

Weogufka, AL payday loan calculator

Payday Loans in Weogufka, Alabama: A Comprehensive Guide

In Alabama, payday loans are a popular solution for those in need of quick cash. Weogufka, a small town in Coosa County, is no exception. However, it’s important to understand the terms and risks associated with payday loans before deciding to take one out. In this guide, we’ll provide a detailed overview of payday loans in Weogufka, Alabama, including the legal requirements, common terms, and potential pitfalls to watch out for.

Legal Requirements

In Alabama, payday loans are legal and regulated by state law. This means that lenders must adhere to certain guidelines when offering payday loans. Under the Alabama Deferred Presentment Services Act, lenders are required to:

  • Obtain a license from the State Banking Department
  • Disclose all terms and fees of the loan in writing
  • Limit the loan amount to $500 or less
  • Limit the loan term to no more than 31 days
  • Charge no more than 17.5% interest on the loan
  • Allow borrowers to rescind the loan within 24 hours at no cost

It’s important to note that these regulations are in place to protect consumers from predatory lending practices and excessive fees. If you are considering taking out a payday loan in Weogufka, make sure the lender is licensed and adheres to these guidelines.

Common Terms

Payday loans are short-term loans designed to provide quick cash for those in need. Typically, borrowers must repay the loan on their next payday, hence the name. In Weogufka, Alabama, payday loans often come with the following terms:

  • Loan amount: up to $500
  • Loan term: up to 31 days
  • Interest rate: up to 17.5%
  • Finance charges: up to 17.5%
  • Repayment: due on the borrower’s next payday

It’s important to understand the fees associated with payday loans. While Alabama law limits the interest and finance charges, they can still add up quickly. For example, if you take out a $500 loan with a 17.5% interest rate and finance charge, you’ll owe $587.50 when the loan is due in 31 days. This can be a significant burden on those with limited income.

Potential Pitfalls

While payday loans can provide quick cash when needed, they also come with potential risks and pitfalls. Here are a few things to watch out for:

  • High fees and interest rates
  • Rollover fees and extended payment plans
  • Debt cycle and repeated borrowing
  • Negative impact on credit score

It’s important to weigh the potential risks and benefits of payday loans before deciding to borrow. Make sure you understand the terms and fees associated with the loan, and be prepared to repay the loan on time to avoid additional fees and interest charges.

Interesting Facts and Statistics

  • The average payday loan in Alabama is for $326 and has an interest rate of 456%
  • Alabama has the highest concentration of payday lenders per capita in the country
  • 17% of Alabamians have used a payday loan in the past 5 years
  • Payday loan borrowers in Alabama are more likely to be female and African American
  • The majority of payday loan borrowers use the funds to pay for unexpected expenses

Apply Now

If you’re in need of quick cash in Weogufka, Alabama, TheGuaranteedLoans can help. We’re a connector service that can connect you with potential lenders who offer payday loans. Our online application process is easy and confidential, allowing you to get the cash you need without leaving your home. Keep in mind that we are not a direct lender and do not make loan decisions. We simply connect you with potential lenders who may be able to provide the funds you need. Apply now and get the cash you need to cover unexpected expenses!

F.A.Q.

What are payday loans in Weogufka, Alabama?

Payday loans in Weogufka, Alabama are short-term, high-interest loans that are designed to be repaid on the borrower's next payday. These loans are often used to cover unexpected expenses or to bridge the gap between paychecks.

How do payday loans in Weogufka, Alabama work?

To take out a payday loan in Weogufka, Alabama, a borrower typically writes a check for the amount of the loan plus a fee, which the lender holds until the borrower's next payday. On that date, the borrower has the option to either repay the loan in full, including the fee, or roll the loan over for another term by paying only the fee.