Payday Loans in Hampton, Kentucky

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

Company nameAddressZip codePhone number
Cash Connection Inc 370 W 5th St, Benton, KY 42025 +1 (270) 527 - 5544
Check Exchange 1805 Monmouth St, Newport, KY 41071 +1 (859) 491 - 6888
Mariner Finance 493 University Dr, Prestonsburg, KY 41653 +1 (606) 886 - 8743
World Finance 310 US-62 W, Princeton, KY 42445 +1 (270) 365 - 7177
Pure Country Automotive 333 C W Stevens Boulevard 2010, Grayson, KY 41143 +1 (606) 474 - 5414
World Finance Corporation 125 Sam Walton Dr #110, Russellville, KY 42276 +1 (270) 725 - 8511
Ace Pawn Shop 10343 Regina Belcher Hwy, Elkhorn City, KY 41522 +1 (606) 754 - 0503
Cash Express 15 2nd Street, Vanceburg, KY 41179 +1 (606) 796 - 0142
Easy Money Express DBA Barkley Financial 4677 Alben Barkley Dr, Paducah, KY 42001 +1 (270) 534 - 4337
Pfc Internal Audit 3240 Lone Oak Rd, Paducah, KY 42003 +1 (270) 554 - 5997

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hampton, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Florence, KY, Payday Loans in Georgetown, KY, Payday Loan for Hopkinsville, KY, Payday Loan Without a Credit Check in Louisville, KY, Payday Loans in Owensboro, KY and Online 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 Hampton, KY.

Are Payday Loans Legal In Hampton, 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

Hampton, KY payday loan calculator

In Hampton, Kentucky, payday loans are legal and regulated by the state. For those who are facing unexpected expenses or emergencies, payday loans can be a useful resource to cover those immediate costs when there is no other option available.

Understanding Payday Loans

Payday loans are short-term loans designed to be paid off quickly, usually within two weeks to a month. They typically come with high-interest rates and fees, making them a costly option if not paid back on time.

When a borrower applies for a payday loan, they provide the lender with proof of income and a post-dated check or authorization for an automatic debit on their next payday. If the borrower does not have enough funds in their account to cover the loan amount, they may be hit with overdraft fees in addition to the high-interest rates and fees already charged.

Hampton Payday Loan Regulations

In Kentucky, payday loans are only legal for check cashers, meaning that traditional banks and credit unions cannot offer payday loans. This is meant to protect consumers from falling into a cycle of debt that can be difficult to escape.

Despite these regulations, it is still important for borrowers to carefully consider the terms and conditions of any payday loan before agreeing to it. In Hampton, Kentucky, payday loan lenders are allowed to charge up to $15 per $100 borrowed. This means that a borrower taking out a payday loan of $500 would end up paying back $575 in total.

It is important to note that payday loans should only be used as a last resort, as the high-interest rates and fees can make them difficult to pay back in a timely manner. Borrowers should also only take out the amount they need and can realistically pay back on their next payday.

Pros and Cons of Payday Loans

Payday loans can be a useful option for those who are facing unexpected expenses and have no other means of covering them. They are quick and easy to obtain, often requiring minimal documentation or credit checks, making them accessible to a wide range of people.

However, payday loans come with a number of significant drawbacks. The high-interest rates and fees can make them a costly option, and if not paid back on time, borrowers may find themselves caught in a cycle of debt that can be difficult to escape.

Additionally, payday loan lenders often target low-income individuals and communities, making them particularly vulnerable to exploitation. Borrowers should be aware of their rights and protections under the law and carefully review the terms and conditions of any payday loan before agreeing to it.

Facts and Statistics about Payday Loans in Hampton, Kentucky

  • Payday loans are legal in Kentucky, but only for check cashers.
  • Payday loan lenders in Kentucky are allowed to charge up to $15 per $100 borrowed.
  • According to the Center for Responsible Lending, the average payday loan borrower takes out eight loans per year, with an average loan amount of $375 and an average fee of $55 per loan.
  • A report by the Pew Charitable Trusts found that the average payday loan borrower spends approximately $520 in fees to borrow $375, and they often have to take out new loans to pay off old ones.
  • In Kentucky, borrowers can take out a payday loan for up to $500 for a term of 14 to 60 days.

Apply Now

If you are considering a payday loan in Hampton, Kentucky, TheGuaranteedLoans can help. As a connector service, we work with a network of potential lenders who may be able to offer you a payday loan that fits your needs.

Our online application process is quick and easy, allowing you to get the funds you need as soon as possible. Remember, payday loans should only be used as a last resort, and you should carefully consider the terms and conditions of any loan before agreeing to it.

Apply now and see if you qualify for a payday loan in Hampton, Kentucky.

F.A.Q.

What fees are associated with payday loans in Hampton, Kentucky?

Payday loans in Hampton, Kentucky may have fees for late payments, insufficient funds, or other penalties. Be sure to carefully review the terms of the loan before agreeing to it.

Can I apply for a payday loan if I am currently in bankruptcy in Hampton, Kentucky?

No, individuals who are currently in bankruptcy are not eligible for payday loans in Hampton, Kentucky.