Payday Loans in Bedford, Kentucky

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

Company nameAddressZip codePhone number
Republic Finance 3201 Olivet Church Rd Suite B, Paducah, KY 42001 +1 (270) 443 - 6790
First Financial Credit 466 Manchester Square, Manchester, KY 40962 +1 (606) 599 - 0732
U.S. Bank Branch 120 Mabry Dr, Morehead, KY 40351 +1 (606) 784 - 9689
Express Check Advance 1852 N Main St, Beaver Dam, KY 42320 +1 (270) 274 - 3989
Old National Bank 301 S 2nd St, Central City, KY 42330 +1 (270) 757 - 6260
Advance America 2017-B Brownsboro Rd., Louisville, KY 40206 +1 (502) 897 - 9656
Fast Payday Loans 2501 Madison Ave, Covington, KY 41014 +1 (859) 291 - 3475
Cash Express 104B Southside Mall Rd, South Williamson, KY 41503 +1 (606) 237 - 0089
BB&T 1104 Chestnut St, Murray, KY 42071 +1 (270) 767 - 2290
Regency Finance Company 509 S L Rogers Wells Blvd c, Glasgow, KY 42141 +1 (270) 261 - 4941

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bedford, KY, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Florence, KY, Short-term Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, Payday Loans in Louisville, KY, Bad Credit Loans in Owensboro, KY and Payday Loans 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 Bedford, KY.

Beautiful sights of Bedford, KY

Payday Loans Available in Bedford, KY By The Following ZIP Codes:

40006

Are Payday Loans Legal In Bedford, 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

Bedford, KY payday loan calculator

Payday Loans in Bedford, Kentucky: An In-Depth Guide

Are you a resident of Bedford, Kentucky, in need of some financial assistance to cover those unexpected expenses? Payday loans may be a solution worth considering. Payday loans are short-term loans that are typically designed to be repaid on your next paycheck. Although these loans may come with high-interest rates, they are generally easy to obtain and can provide quick relief in urgent and unforeseen circumstances.

Legal Status of Payday Loans in Bedford, Kentucky

It is important to note that payday loans are legal in Kentucky, but this only applies to check cashers. According to Kentucky state law, payday loans are subject to some restrictions to protect consumers from predatory lending practices. Lenders are not allowed to lend more than $500 to an individual at any given time and must provide borrowers with a written contract that outlines the loan terms and conditions. The maximum loan term allowed is 60 days, and lenders cannot charge more than $15 per $100 on a loan of up to $500.

How to Qualify for Payday Loans in Bedford, Kentucky

To qualify for payday loans in Bedford, Kentucky, you must meet certain eligibility criteria. These include:

  • Being at least 18 years of age
  • Having a valid government-issued ID
  • Providing proof of income and employment
  • Having an active checking account in your name

If you meet these eligibility requirements and decide to apply for a payday loan, you can either visit a physical lender location or apply online at a lender’s website.

The Pros and Cons of Payday Loans in Bedford, Kentucky

Like any other financial product, payday loans come with their own set of pros and cons. It is important to weigh these before deciding whether to apply for a payday loan.

Pros:

  • Quick approval process
  • Easy to obtain with minimal requirements
  • No credit check required
  • Can provide quick relief for unexpected expenses

Cons:

  • High-interest rates and fees
  • Short repayment terms
  • Potential for debt cycle if not repaid on time
  • May lead to financial instability in the long run

Interesting Facts and Statistics about Payday Loans in Bedford, Kentucky

  • According to the Kentucky Coalition for Responsible Lending, the average payday loan borrower in Kentucky takes out 10 loans per year, with a loan term of 14 days and an average interest rate of 391% APR.
  • As of May 2021, there are at least four licensed payday lenders operating in Bedford, Kentucky.
  • According to the Pew Charitable Trusts, the average payday loan borrower spends about $520 in fees to repeatedly borrow $375. This can lead to a cycle of debt and financial instability.

Apply Now for Payday Loans in Bedford, Kentucky

If you have carefully weighed the pros and cons and decided that a payday loan is the best option for your situation, you can apply for a loan on our website TheGuaranteedLoans. Our platform provides a quick and easy way to connect borrowers with potential lenders. Please note that we are not a direct lender and do not issue loans ourselves. Instead, we work as a connector service to facilitate the process of finding the right lender for your specific needs.

It is important to remember that payday loans are not a long-term financial solution and should only be used in emergency situations. Before applying for any loan, it is advisable to explore other options and seek the guidance of a financial expert.

F.A.Q.

Can I apply for a payday loan if I am on active military duty in Bedford, Kentucky?

Yes, individuals on active military duty are eligible to apply for payday loans in Bedford, Kentucky. However, there are special protections in place for military members, so be sure to inform the lender if you are on active duty.

Are there any restrictions on the interest rate for payday loans in Bedford, Kentucky?

Yes, the maximum interest rate for payday loans in Bedford, Kentucky is 390% APR.