Payday Loans in Coats, Kansas

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No payday loan companies in Coats, KS. Consider companies in other cities:

Company nameAddressZip codePhone number
Advance America 215 W 15th St, Wellington, KS 67152 +1 (620) 399 - 8620
Citizens Financial 1120 N Main St, El Dorado, KS 67042 +1 (316) 321 - 1591
American AgCredit 1422 Main St, Scott City, KS 67871 +1 (620) 872 - 5391
TitleMax Title Loans 1218 S Rock Rd, Wichita, KS 67207 +1 (316) 215 - 8063
Barri Agent 116 Gunsmoke St, Dodge City, KS 67801
Skyward Credit Union 1 Cessna Blvd, Independence, KS 67301 +1 (833) 759 - 1941
RFC 4230 S Broadway St, Wichita, KS 67216 +1 (316) 522 - 0100
MoneyGram 204 E Parkway Blvd, Liberal, KS 67901 +1 (620) 626 - 7115
ANB Bank 15301 W 87th St, Lenexa, KS 66219 +1 (913) 888 - 8490
Valley Auto Sales 102 S 20th St 1765, Fredonia, KS 66736 +1 (620) 378 - 4470

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Coats, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Hutchinson, KS, Payday Loans in Kansas City, KS, Emergency Loan in Lawrence, KS, Payday Loans in Leavenworth, KS, Quick Loan in Leawood, KS, Payday Loans in Lenexa, KS, Payday Loan for Manhattan, KS and Payday Loans in Olathe, KS. 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 Coats, KS.

Payday Loans Available in Coats, KS By The Following ZIP Codes:

67028

Are Payday Loans Legal In Coats, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Coats, Kansas residents may only be for $500 for the first loan and $300 for each additional loan. The lender must give a monthly statement in which the borrower will see how much money was borrowed, how much was repaid, and how much the total cost of the loan is. The Kansas Finance Charge on payday loans is a standard $15 per $100 borrowed. The APR for payday loans in Coats, Kansas is 391%.

Multiple payday advances are not allowed and banks cannot make loans to the same borrower for more than $500 on the borrower’s written agreement. There must be at least 7 days between successive loans and the lender must return a payment made before deducting finance charges if the lender could not reasonably have expected the advance to be paid.

Kansas Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)391
Maximum Loan Amount$500
Minimum Loan Term7 days
Maximum Loan Term30 days
Number of Rollovers AllowedNot specified
Finance Charges15% of the amount advanced

Coats, KS payday loan calculator

Payday Loans in Coats, Kansas

Payday loans are common in Kansas, and residents of the small town of Coats in Pratt County have access to them as well. These loans provide a short-term financial solution for people who need cash to cover unexpected expenses or make ends meet until their next paycheck arrives. This article will cover everything you need to know about payday loans in Coats, Kansas, including how they work, where to find them, and the benefits and drawbacks.

How Payday Loans Work

Payday loans are short-term loans that typically provide a borrower with cash advances to bridge their financial gap until their next paycheck. The loan is usually due on the borrower’s next payday or within a few weeks. A borrower can generally receive a payday loan ranging from $100 to $1,000.

To qualify for a payday loan, a borrower must have a regular source of income, a valid checking account, and a national ID or driver’s license. Typically, the lender will not perform a credit check or ask for collateral. Instead, the amount given is based on the borrower’s income.

Benefits of Payday Loans

The biggest advantage of payday loans is their speed and convenience. Traditional loans typically require extensive documentation, including credit scores and asset valuations, that can take days or even weeks to gather. With payday loans, the application process is quick, easy, and streamlined. The borrower receives the money within hours, providing quick relief during a financial crisis.

Payday loans can also be used for any purpose the borrower sees fit, giving them complete control. Unlike a traditional loan, the lender does not dictate how the money is spent.

Drawbacks of Payday Loans

The drawbacks of payday loans include their high fees and interest rates. Since payday loans are short-term loans, the lenders compensate for the risk by charging higher fees and interest rates. This means that borrowers can get caught in a trap, where they are continually renewing their loans, accruing more fees and interest. This can lead to a never-ending cycle of debt that’s difficult to get out of.

Another drawback is that payday loans do not help build credit. Unlike traditional loans, payday loans are not reported to credit bureaus, meaning that they do not improve a borrower’s credit score. If a borrower is looking to build their credit history, then a payday loan will not help.

Interesting Facts and Statistics about Payday Loans in Coats, Kansas

  • In Kansas, payday loans are legal, and regulations are in place to cap the interest rates at 15%. The law also limits the number of loans a borrower can take out to two at any given time.
  • The average payday loan in Kansas is $310, with an average interest rate of 391%.
  • In Kansas, payday lenders are required to disclose all fees and interest up front and in writing. They are also prohibited from rolling over loans more than three times for a borrower.
  • According to the Center for Responsible Lending, 75% of the fees paid by payday borrowers in Kansas are from people who take out 10 or more loans per year.

Apply Now

If you are in Coats, Kansas, and need a payday loan, you can apply online on TheGuaranteedLoans. We provide a fast and easy way to connect borrowers with lenders across the country. However, it’s important to note that TheGuaranteedLoans is not a direct lender. Instead, we connect you with potential lenders that may offer you a loan that meets your financial needs.

It’s important to remember that payday loans should only be used as a short-term financial solution. They should not be used to manage long-term debt or financial difficulties. If you are struggling with debt, there are other solutions available, including debt consolidation or credit counseling. Always be sure to read the terms and conditions of any loan before making a commitment, and ensure that you can afford to repay the loan on time.

Conclusion

Payday loans can provide a useful financial solution to those who need quick cash. However, they’re not without their risks. With high-interest rates and fees, there’s a potential for borrowers to get trapped in a cycle of debt that’s difficult to escape. Therefore, It’s important to use payday loans responsibly and avoid borrowing more than you can afford to repay. Before taking out a payday loan, consider your other options and ensure that it’s the right choice for your financial situation.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Coats, Kansas?

No, taking out a payday loan in Coats, Kansas is not a crime. However, if you intentionally provide false information on your loan application, you may be subject to criminal charges.

Can a payday lender take legal action against me in Coats, Kansas if I default on my loan?

Yes, if you default on your payday loan in Coats, Kansas, the lender may take legal action to recover the funds. This could include wage garnishment, a judgment against you, or other legal action. It is important to communicate with the lender and try to come up with a repayment plan if you are unable to make your payments on time.