Payday Loans in Ledbetter, Kentucky

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

Company nameAddressZip codePhone number
Farm Credit Mid-America 115 Commerce Dr, Russellville, KY 42276 +1 (270) 726 - 2011
Premier Payday Loans & Cash 112 Grand Vue Plz, Hazard, KY 41701 +1 (606) 435 - 1157
Cash-A-Check 1125 N Main St, Beaver Dam, KY 42320 +1 (270) 274 - 7779
Eagle Finance 2945 Scottsville Rd. Suite B14, Bowling Green, KY 42104 +1 (270) 936 - 8535
Bank of Clarkson 417 S Main St, Leitchfield, KY 42754 +1 (270) 230 - 0120
Community Trust Bank 1918 Cumberland Ave, Middlesboro, KY 40965 +1 (606) 248 - 9600
Cash Express 68 N Franklin St, Madisonville, KY 42431 +1 (270) 245 - 5171
River Valley AgCredit 12350 US-60, Kevil, KY 42053 +1 (270) 462 - 2155
First American Cash Advance 6661 Dixie Hwy 5, Louisville, KY 40258 +1 (502) 937 - 5186
Lendmark Financial Services LLC 391 N S Mayo Trail, Paintsville, KY 41240 +1 (606) 789 - 9200

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ledbetter, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Florence, KY, No Credit Check Loans in Georgetown, KY, Payday Loan for Hopkinsville, KY, Bad Credit Loans in Louisville, KY, Quick Loan 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 Ledbetter, KY.

Beautiful sights of Ledbetter, KY

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

42058

Are Payday Loans Legal In Ledbetter, 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

Ledbetter, KY payday loan calculator

Payday Loans in Ledbetter, Kentucky: Everything You Need to Know

If you’re in a financial bind and need cash quickly, a payday loan may seem like an attractive option. At TheGuaranteedLoans, we understand that unexpected expenses can arise, and we want to provide you with the information you need to make an informed decision.

In this comprehensive guide to payday loans in Ledbetter, Kentucky, we’ll cover everything from the legalities of these types of loans to the pros and cons of using them. You’ll leave with a solid understanding of what payday loans entail and whether they’re right for you.

The Basics of Payday Loans in Ledbetter, KY

Payday loans are a type of short-term loan that enables borrowers to get cash quickly. Typically, these loans are for relatively small amounts, ranging from a few hundred to a few thousand dollars. Borrowers usually have to repay the loan in full on their next payday.

In Kentucky, payday loans are legal but are regulated by state law. Check cashers are authorized to offer payday loans to consumers. These lenders must be licensed by the state and are subject to various limits and restrictions regarding interest rates, fees, and loan terms.

How Payday Loans Work

The process of obtaining a payday loan is relatively simple. You’ll typically need to provide proof of income, such as a pay stub or bank statement, and your identification. You’ll also need to provide your bank account information to facilitate the loan transfer.

If you’re approved for the loan, you’ll receive the cash you need upfront. In exchange, you’ll need to sign a contract agreeing to repay the loan, typically within two to four weeks. The contract will include the loan amount, interest rate, fees, and repayment terms.

It’s important to note that payday loans are short-term loans with high-interest rates and fees. Borrowers are typically charged an average interest rate of 391% per year, which means that if you borrow $100 for two weeks, you’ll owe $115, on average, when the loan is due.

Pros and Cons of Using Payday Loans

Payday loans can be a convenient way to get cash quickly, but they’re not without their risks. Here are some of the pros and cons of using payday loans:

Pros

  • Quick and easy access to cash: If you need money right away, payday loans can provide you with the funds you need within 24 hours.
  • No credit check required: Unlike other types of loans, payday lenders don’t typically check your credit history, which can make it easier for you to qualify for a loan.
  • Easy to obtain: The application process for payday loans is quick and straightforward, so you can get approved for a loan with minimal effort.

Cons

  • High-interest rates and fees: Payday loans come with high-interest rates and fees, which can add up quickly and make it difficult to repay the loan.
  • Risk of predatory lending: Some payday lenders use aggressive tactics to encourage borrowers to take out loans they can’t afford to repay, which can lead to a cycle of debt.
  • Short repayment terms: Borrowers usually have to repay payday loans within two to four weeks, which can be challenging if you don’t have the funds available.

Are Payday Loans Right for You?

Ultimately, whether payday loans are a good option for you will depend on your individual circumstances. If you’re in a financial bind and need cash quickly, a payday loan may be an attractive option. However, it’s important to be aware of the risks involved and to only borrow what you can afford to repay.

If you decide to take out a payday loan, it’s important to choose a reputable lender and to carefully review the terms of the loan. Make sure you understand the interest rate, fees, and repayment terms before signing a contract.

Interesting Facts and Statistics About Payday Loans in Ledbetter, Kentucky

  • Kentucky has approximately 784 payday loan stores, which is more than three times the number of McDonald’s restaurants in the state.
  • In Kentucky, the average payday loan borrower takes out eight loans per year, with a total amount borrowed of $2,462.
  • The average interest rate on a payday loan in Kentucky is 391%, which is one of the highest rates in the country.

Apply Now

If you need cash quickly and are considering a payday loan, TheGuaranteedLoans can help. We’re a connector service that can match you with potential lenders in Ledbetter, Kentucky. Fill out our online application today to get started.

Remember, we are not a direct lender, and we cannot guarantee approval or loan terms. However, we work with a network of reputable lenders who can provide you with the cash you need quickly and easily.

Don’t let unexpected expenses derail your financial well-being. Contact TheGuaranteedLoans today and get the cash you need to take control of your finances.

F.A.Q.

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

Yes, individuals on active military duty are eligible to apply for payday loans in Ledbetter, 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 Ledbetter, Kentucky?

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