Payday Loans in Athol, Kentucky

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No payday loan companies in Athol, KY. Consider companies in other cities:

Company nameAddressZip codePhone number
Woodforest Bank 1015 New Moody Ln, La Grange, KY 40031 +1 (502) 222 - 3476
World Finance 2916 Fort Campbell Blvd, Hopkinsville, KY 42240 +1 (270) 885 - 8100
American Check Advance 1440 Nashville Rd # O, Franklin, KY 42134 +1 (270) 586 - 4500
Community Trust Bank 1218 E Broadway St, Campbellsville, KY 42718 +1 (270) 789 - 5900
CVNB Cumberland Valley National Bank and Trust 1376 Master St, Corbin, KY 40701 +1 (606) 528 - 3120
Partners 1st Federal Credit Union 690 W College Ave, Stanton, KY 40380 +1 (606) 663 - 5233
First & Farmers National Bank 224 Public Square, Columbia, KY 42728 +1 (270) 384 - 2361
Check Into Cash 1801 Alexandria Dr Ste 188, Lexington, KY 40504 +1 (859) 277 - 9828
Advance America 2845 W Parrish Ave Suite J Suite J, Owensboro, KY 42301 +1 (270) 688 - 8448
Cash Connection Inc 370 W 5th St, Benton, KY 42025 +1 (270) 527 - 5544

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Athol, KY, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Florence, KY, Payday Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, 24-Hour Loan in Louisville, KY, Payday Loans in Owensboro, KY and Payday Loan Companies in Richmond, KY. 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 Athol, KY.

Are Payday Loans Legal In Athol, Kentucky?

Loan Rates and Fees, Laws and Regulations in Kentucky.

Kentucky Loan Regulations

Legal StatusLegal (Applies to check cashers only)
Interest Rate (APR, %)460
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term60 days
Number of Rollovers Allowed0
Finance Charges$15 per $100

Athol, KY payday loan calculator

Payday Loans in Athol, Kentucky: What You Need to Know

Are you strapped for cash and considering taking out a payday loan? If you live in Athol, Kentucky, you’re in luck. Despite payday loans being legal in Kentucky, not all cities or counties within the state have them readily available. However, payday loans are available in Athol through check cashers.

In this article, we’ll explore everything you need to know about payday loans in Athol, Kentucky, including how they work, the laws surrounding them, and their potential pros and cons.

How Payday Loans Work

Payday loans are designed to provide short-term financial relief to borrowers who need cash quickly. These loans are typically for small amounts, typically ranging from $100 to $500, and are meant to be repaid within a few weeks.

Payday loans are also known for their high-interest rates, which can range from 300% to 700% APR, making them an expensive option for borrowing money.

To qualify for a payday loan, you’ll need to provide a lender with proof of income, a valid ID, and an active checking account. Once approved, you’ll receive the funds you need, which you’ll need to repay, plus interest and fees, by your next payday.

Payday Loan Laws in Athol, Kentucky

Payday loans are legal in Kentucky, but the state does have laws and regulations in place to protect borrowers. For instance, Kentucky law limits the amount of a payday loan to $500, and lenders cannot charge more than $15 per every $100 borrowed. Additionally, borrowers can only take out two payday loans at a time and must have a cooling-off period of 24 hours between loans.

While payday loans in Athol, Kentucky, are legal, there are still risks involved. The biggest risk is the high interest rates, which can lead to a cycle of debt if borrowers can’t repay their loans on time. Additionally, there have been instances of predatory lending practices among some payday lenders, so it’s essential to research lenders thoroughly before taking out a loan.

The Pros and Cons of Payday Loans

Before taking out a payday loan, it’s essential to weigh the pros and cons carefully. On the one hand, payday loans can be a valuable source of emergency cash for borrowers who may not have other options. Additionally, payday loans can be a fast and easy way to get cash, sometimes within an hour of applying.

On the other hand, payday loans are incredibly expensive, which can make them difficult to repay for some borrowers. Additionally, payday loans can lead to a cycle of debt if borrowers aren’t careful, as they can be rolled over for additional fees and interest.

Interesting Facts and Statistics About Payday Loans in Athol, Kentucky

  • In 2019, Kentucky lawmakers passed a bill that would cap payday loans interest rates at 36% APR to protect consumers from high-interest loans.
  • In 2020, the Consumer Financial Protection Bureau proposed new regulations for the payday lending industry, which would include requiring lenders to assess a borrower’s ability to repay and limit the number of loans borrowers can take out in a row.
  • In 2018, the Kentucky Coalition for Responsible Lending reported that payday loans in Kentucky cost borrowers $249 million annually in fees and interest.

Apply Now for a Payday Loan in Athol, Kentucky

If you’re in Athol, Kentucky, and need a payday loan, TheGuaranteedLoans can help connect you with potential lenders. We’re a connector service, not a direct lender, which means we can help you find a lender quickly and easily.

To get started, fill out our online application today. Remember to borrow responsibly and only take out a payday loan if you can afford to repay it on time.

F.A.Q.

Are there any restrictions on the number of payday loans I can take out in Athol, Kentucky?

Yes, you are only allowed to take out one payday loan at a time in Athol, Kentucky.

Can I take out a payday loan if I have bad credit?

Yes, you can still take out a payday loan in Athol, Kentucky even if you have bad credit.