Payday Loans in New Albany, Kansas

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

Company nameAddressZip codePhone number
Sunflower Bank 4831 Quail Crest Pl, Lawrence, KS 66049 +1 (785) 312 - 7274
The Bank 108 N Kansas Ave, Selden, KS 67757 +1 (785) 386 - 4389
Morgan Stanley 1617 Waterfront Ste 200, Wichita, KS 67206 +1 (316) 383 - 8300
Synchrony Financial 9510 W 67th St, Shawnee, KS 66203 +1 (866) 419 - 4096
Community National Bank & Trust 606 W St John St, Girard, KS 66743 +1 (620) 724 - 4446
U.S. Bank ATM - 5th & Jackson 434 SW Jackson St, Topeka, KS 66603 +1 (785) 354 - 4050
Brookdale Salina Kirwin 1200 E Kirwin Ave, Salina, KS 67401 +1 (785) 825 - 8200
Western Union Walgreens, 2600 Vine St, Hays, KS 67601 +1 (785) 628 - 1767
Equity Bank 3825 SW 29th St, Topeka, KS 66614 +1 (785) 272 - 5257
Kansas State Bank 400 Maple St, Overbrook, KS 66524 +1 (785) 665 - 7121

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in New Albany, KS, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Shawnee, KS, Payday Loan Companies in Topeka, KS, Payday Loans in Wichita, KS, Same Day Loans in Hutchinson, KS, Payday Loans in Kansas City, KS, Payday Loans in Lawrence, KS, Payday Loans in Leavenworth, KS and Quick Loan in Leawood, 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 New Albany, KS.

Beautiful sights of New Albany, KS

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

66759

Are Payday Loans Legal In New Albany, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to New Albany, 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 New Albany, 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

New Albany, KS payday loan calculator

Payday Loans in New Albany, Kansas

Are you struggling to cover unexpected expenses or pay bills on time? If so, you may have considered taking out a payday loan. In New Albany, Kansas, these types of loans are legal and can be a helpful option for those who need cash quickly. In this article, we will dive deeper into payday loans in New Albany, Kansas, to help you better understand the benefits and drawbacks of this financial option.

What Are Payday Loans?

A payday loan is a short-term loan designed to help borrowers cover unexpected expenses until their next payday. These loans are typically for small amounts, often ranging between $100 and $1,000, and are repaid in full when the borrower receives their next paycheck. To obtain a payday loan, borrowers must provide proof of income and a checking account to receive the money. Payday loans are also known for their high annual percentage rates (APRs), which can be as high as 400% or more.

Legal Status of Payday Loans in Kansas

In Kansas, payday loans are legal and regulated by state law. The Kansas Office of the State Bank Commissioner is responsible for overseeing the industry and ensuring that lenders comply with the law. Under Kansas law, payday lenders can only charge up to 15% of the value of the loan in fees and interest. Loans must be repaid within 30 days, and borrowers are limited to two loans at a time. Though it is legal to take out a payday loan in Kansas, borrowers should be aware of the high costs and potential risks associated with these loans.

The Pros and Cons of Payday Loans

Pros:

  • Payday loans can provide quick cash to cover unexpected expenses or bills
  • Credit history is not a determining factor in the approval process
  • The application process is typically quick and easy, with minimal requirements

Cons:

  • The high APRs of payday loans can make them difficult to pay back on time, potentially leading to a cycle of debt
  • Payday loans can be expensive, with fees and interest adding up quickly
  • The short repayment term can be challenging for some borrowers, especially those living paycheck to paycheck
  • Some lenders may engage in unethical practices, such as charging excessive fees or making unauthorized withdrawals from borrowers’ bank accounts

Interesting Facts and Statistics about Payday Loans in New Albany, Kansas

  • In Kansas, the average payday loan is $300, with an average APR of 391%
  • In 2019, there were nearly 600 payday loan companies in Kansas, providing over $300 million in loans to borrowers
  • A study by the Consumer Financial Protection Bureau found that four out of five payday loans are rolled over or renewed, leading to additional fees and interest for borrowers

Apply Now

If you are considering a payday loan in New Albany, Kansas, it is important to research lenders and compare terms and fees before applying. TheGuaranteedLoans can help connect you with potential lenders and facilitate the application process. Keep in mind that we are a connector service, not a direct lender, and we do not guarantee approval for any loans.

To apply for a payday loan through TheGuaranteedLoans, simply fill out our online application form. We will then provide you with a list of lenders who may be a good fit for your needs. From there, you can review their terms and decide if you would like to proceed with a loan.

Conclusion

Payday loans can be a helpful financial tool in certain situations, but they are not without risks and drawbacks. As a borrower, it is important to understand the terms and requirements of any loan before signing on. By doing your research and seeking out reputable lenders, you can make an informed decision about whether a payday loan is right for you.

F.A.Q.

Can I be arrested for not repaying a payday loan in New Albany, Kansas?

No, you cannot be arrested for not repaying a payday loan in New Albany, Kansas. However, the lender may take legal action to recover the funds, which could result in wage garnishment or other consequences.

Are there alternatives to payday loans in New Albany, Kansas?

Yes, there are alternatives to payday loans in New Albany, Kansas, such as borrowing from friends or family, applying for a small personal loan from a bank or credit union, or seeking assistance from a nonprofit organization.