Payday Loans in Marrowbone, Kentucky

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

Company nameAddressZip codePhone number
World Finance Corporation 1261 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 6129
Rich Hendrickson - Raymond James 105 W 5th St, Benton, KY 42025 +1 (270) 906 - 2139
Bluegrass Credit Corporation 908 E Main St 1, Richmond, KY 40475 +1 (859) 625 - 5561
Wilson & Muir Bank & Trust 123 W Main St, Vine Grove, KY 40175 +1 (270) 877 - 2116
U.S. Bank Branch 108 S Main St, Mortons Gap, KY 42440 +1 (270) 824 - 3072
Lendmark Financial Services LLC 611 Marion Rd Suite C, Princeton, KY 42445 +1 (270) 365 - 7031
Heights Finance Corporation 658 N 12th St B, Murray, KY 42071 +1 (270) 759 - 0310
First South Credit 512 E Stephen Foster Ave 103, Bardstown, KY 40004 +1 (502) 331 - 0808
Check Into Cash 8520 Preston Hwy, Louisville, KY 40219 +1 (502) 966 - 0285
Lendmark Financial Services LLC 2400 William Thomason Byway b, Leitchfield, KY 42754 +1 (270) 259 - 9614

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Marrowbone, 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 Loan Without a Credit Check in Georgetown, KY, 24-Hour Loan in Hopkinsville, KY, Payday Loans in Louisville, KY, Emergency Loan 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 Marrowbone, KY.

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

42759

Are Payday Loans Legal In Marrowbone, 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

Marrowbone, KY payday loan calculator

What Are Payday Loans?

Payday loans are a type of short-term loan that are typically used to cover unexpected expenses. These loans are typically due on the borrower’s next payday, which has given rise to the name “payday loan.”

In Kentucky, payday loans are legal, but they are subject to certain limitations. Specifically, only check cashers are allowed to offer payday loans in the state. This means that traditional banks and other financial institutions cannot offer these types of loans.

The Pros and Cons of Payday Loans

Like any financial product, payday loans have their pros and cons. Some of the advantages of payday loans include:

  • They are quick and easy to obtain. Unlike traditional bank loans, which may take several days or weeks to process, payday loans are generally approved and disbursed within hours.
  • They are available to borrowers with poor credit. Because payday loan lenders do not typically perform credit checks, borrowers with low credit scores or a history of financial difficulties may still be able to obtain a payday loan.
  • They can be used for a variety of purposes. Unlike traditional bank loans, which may require the borrower to specify the purpose of the loan, payday loans can be used for anything.

However, there are also several disadvantages to payday loans. Some of the most significant drawbacks include:

  • They can be expensive. Payday loans often have high interest rates and fees, which can make them more costly than other types of loans.
  • They can lead to a cycle of debt. Because payday loans are due on the borrower’s next payday, some borrowers may find themselves unable to repay the loan on time. This can lead to additional fees and interest charges, which can make it difficult to break free of the debt cycle.
  • They can be difficult to understand. Payday loans are often associated with complex terms and conditions, which can be difficult for borrowers to understand.

Payday Loans in Marrowbone, Kentucky

In Marrowbone, Kentucky, payday loans are legal, but they are subject to certain restrictions. Specifically, check cashers can offer payday loans in the state, but they cannot charge more than $15 per $100 in loans. Additionally, payday loans in Kentucky are limited to a maximum of $500 and are subject to a 14-day repayment period.

Despite these limitations, payday loans remain a popular financial product in Kentucky, including in the Marrowbone area. According to recent data, there are several payday loan lenders operating in the Marrowbone area. While these lenders may offer different terms and conditions, they are all subject to Kentucky’s payday lending laws.

Interesting Facts and Statistics

  • In Kentucky, there are more payday lenders than McDonald’s and KFC restaurants combined.
  • According to a 2020 study, the average payday loan borrower in Kentucky takes out 10 payday loans per year, totaling $3,203 in loan principal.
  • As of January 2021, the average interest rate for a 14-day payday loan in Kentucky is approximately 391% APR.

Apply Now

If you are in need of a payday loan in Marrowbone, Kentucky, TheGuaranteedLoans can help. We are a connector service that can help connect you with potential lenders who may be able to offer the cash you need. To begin, simply fill out our online application, which takes just a few minutes to complete. Remember, TheGuaranteedLoans is not a direct lender, but we can help facilitate your connection with potential lenders who may be able to offer you a loan. Apply now to see what options are available to you.

F.A.Q.

Can I be sued or have my wages garnished if I default on my payday loan in Marrowbone, Kentucky?

Yes, you can be sued or have your wages garnished if you default on your payday loan in Marrowbone, Kentucky.

Are there any consumer protection laws for payday loans in Marrowbone, Kentucky?

Yes, Kentucky has consumer protection laws for payday loans that regulate the terms and conditions of these loans.