Payday Loans in South Union, Kentucky

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

Company nameAddressZip codePhone number
Cash Express 1309 W Lexington Ave #1, Winchester, KY 40391 +1 (859) 737 - 5949
Traditions Finance Company 1877 Main St, Cadiz, KY 42211 +1 (270) 522 - 3377
Easy Money Shoppe 5162 Hinkleville Rd, Paducah, KY 42001 +1 (270) 443 - 2999
Commonwealth Bank & Trust Co 422 Main St, Shelbyville, KY 40065 +1 (502) 232 - 7020
Cash Express 465 Mountain Pkwy, Salyersville, KY 41465 +1 (606) 349 - 7745
BB&T 102 NW Park Square, Russellville, KY 42276 +1 (270) 726 - 2451
River Valley Agcredit 102 N Washington St, Clinton, KY 42031
Cash Express 2385 Lakeway Dr, Russell Springs, KY 42642 +1 (270) 418 - 3589
First Farmers Bank 506 E Main St, Warsaw, KY 41095 +1 (859) 567 - 6100
Cash Express 9342 KY-805 #2, Jenkins, KY 41537 +1 (606) 832 - 4790

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In South Union, 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

South Union, KY payday loan calculator

Payday Loans in South Union, Kentucky

If you’re considering taking out a payday loan in South Union, Kentucky, it’s essential to understand the laws and regulations that govern these types of loans. Payday loans are a quick and easy way to get cash when you need it, but they can also come with high-interest rates and fees that can make it challenging to pay them back on time.

What are Payday Loans?

Payday loans are a type of short-term loan that is typically due on your next payday or within a couple of weeks. These loans are designed to provide quick cash to people who are in need of funds for unexpected expenses or other financial emergencies. In South Union, Kentucky, payday loans are legal for check cashers only.

When you apply for a payday loan, you’ll typically need to provide proof of income, a valid ID, and a post-dated check or your bank account information. The lender will use this information to determine how much you can borrow and when the loan will be due.

How Do Payday Loans Work in South Union, Kentucky?

Payday loans in South Union, Kentucky can be obtained from check cashers. Once you agree to the loan terms, the lender will deposit the loan funds directly into your bank account. You’ll then be responsible for repaying the loan, plus interest and any fees, by the due date. If you don’t repay the loan in full by the due date, the lender may charge additional fees and interest, as well as report your late payment to the credit bureaus.

What Are the Pros and Cons of Payday Loans?

If you’re considering a payday loan in South Union, Kentucky, it’s essential to understand both the benefits and risks associated with these types of loans. Some of the advantages of payday loans include:

  • Fast access to cash in an emergency
  • No credit check required
  • No need to provide collateral

However, payday loans also come with several disadvantages, including:

  • High-interest rates and fees
  • Short repayment terms
  • Potential for debt trap and cycles of debt

Interesting Facts and Statistics about Payday Loans in South Union, Kentucky

  • In 2019, the Kentucky Department of Financial Institutions reported that there were 1,913 payday lenders in the state, with a total of 225,539 loans issued, amounting to $81,505,136 in total loan volume.
  • The average payday loan amount in Kentucky was $361.32, with an average interest rate of 456% APR.
  • In a survey conducted by the Pew Charitable Trusts, 62% of payday loan borrowers reported using the loans to cover unexpected expenses, while 16% used them for regular expenses like rent and utilities.

Apply Now

If you’re in need of quick cash and are considering a payday loan in South Union, Kentucky, TheGuaranteedLoans can help connect you with potential lenders. We are a connection service, not a direct lender, and can help you find lenders who can provide you with the cash you need. Fill out our online application to get started today.

Conclusion

While payday loans can be a convenient way to get quick cash, it’s crucial to understand the potential risks and benefits before applying for one. Consider all your options and make sure you can afford to repay the loan on time to avoid additional fees and interest charges.

F.A.Q.

Are there any alternatives to payday loans in South Union, Kentucky?

Yes, there are several alternatives to payday loans in South Union, Kentucky, such as small personal loans, credit union loans, or borrowing from friends or family.

What should I do if I am unable to repay my payday loan in South Union, Kentucky?

If you are unable to repay your payday loan in South Union, Kentucky, you should contact your lender immediately and discuss your options, such as negotiating a payment plan or seeking financial counseling.