Payday Loans in Staffordsville, Kentucky

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

Company nameAddressZip codePhone number
Cash Express 5414 US-27, Somerset, KY 42501 +1 (606) 561 - 3143
Best Financial Service 2340 US-127, Russell Springs, KY 42642 +1 (270) 866 - 2996
Walmart Money Center 201 Waldon Dr, Harlan, KY 40831 +1 (606) 573 - 2206
BB&T 2198 Lakeway Dr, Russell Springs, KY 42642 +1 (270) 866 - 3134
Check Advance 1575 Old US Hwy 68 Loop 2, Maysville, KY 41056 +1 (606) 759 - 7514
Kraftcor Federal Credit Union 2960 Squirrel Tail Hollow Rd, Hawesville, KY 42348 +1 (270) 927 - 8293
Community Trust Bank 211 W Russell St, Elkhorn City, KY 41522 +1 (606) 754 - 5589
Community Trust Bank 108 Clark St, Flemingsburg, KY 41041 +1 (606) 849 - 2304
Check Into Cash 3525 Frederica St Ste 2, Owensboro, KY 42301 +1 (270) 683 - 3250
Crossroads Cash Advance 284 W Main St, Beattyville, KY 41311 +1 (606) 464 - 9250

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Staffordsville, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Florence, KY, 24-Hour Loan in Georgetown, KY, Guaranteed Loans in Hopkinsville, KY, Payday Loans in Louisville, KY, 24-Hour 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 Staffordsville, KY.

Are Payday Loans Legal In Staffordsville, 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

Staffordsville, KY payday loan calculator

Payday Loans in Staffordsville, Kentucky: What You Need to Know

Payday loans are short-term loans that are designed to provide fast cash to borrowers that need it. These loans are typically due on the borrower’s next payday and come with high interest rates and fees. In Staffordsville, Kentucky, payday loans are legal, but only for check cashers.

How Payday Loans Work

Payday loans are meant to be a quick and easy way to get cash when you need it. Typically, borrowers will go to a lender and fill out an application. The lender will then give the borrower cash, typically in exchange for a post-dated check or automatic withdrawal from the borrower’s bank account on their next payday.

The amount that a borrower can receive from a payday loan varies depending on the lender, but is generally limited to a few hundred dollars. However, the interest rates and fees associated with payday loans are incredibly high, meaning that borrowers can easily end up owing several times the amount they borrowed.

Legal Status of Payday Loans in Staffordsville, Kentucky

As previously mentioned, payday loans are legal in Kentucky, but only for check cashers. This means that traditional banks and credit unions cannot offer payday loans in the state. The Kentucky Office of Financial Institutions regulates payday lenders in the state, and lenders are required to comply with a number of regulations to operate.

For example, payday lenders in Kentucky are banned from issuing loans to borrowers who have outstanding payday loans, and they must provide certain disclosures to borrowers before issuing a loan. Borrowers also have the right to cancel a payday loan within 24 hours of taking out the loan without penalty.

Benefits and Drawbacks of Payday Loans in Staffordsville, Kentucky

Payday loans can be a lifeline for borrowers who need cash quickly, but they come with a number of drawbacks. One of the biggest disadvantages of payday loans is the high interest rates and fees associated with them. Because these loans are meant to be short-term, lenders charge high fees and interest rates to recoup their costs and make a profit. This can quickly lead to a cycle of debt for borrowers.

That said, payday loans can be beneficial for borrowers who need cash to cover an unexpected expense, such as a car repair or medical bill. These loans are easy to obtain and don’t require a credit check, making them accessible to borrowers who may not qualify for traditional loans.

Interesting Facts About Payday Loans in Staffordsville, Kentucky

  • In Kentucky, borrowers can only take out two payday loans at a time, and lenders can only charge up to $15 per $100 borrowed.
  • According to a report by the Kentucky Coalition for Responsible Lending, the average payday loan in Kentucky carries an APR of 391%.
  • In 2019, Kentucky lawmakers introduced a bill that would cap the interest rates charged by payday lenders in the state at 36%, but the bill did not pass.

Apply Now with TheGuaranteedLoans

If you need fast cash, TheGuaranteedLoans can help. We are a connector service that works with a network of potential lenders to help you find the best loan option for your needs. By filling out our online application, you can connect with lenders that offer payday loans, title loans, and other types of short-term loans. Best of all, our service is free to use, and you are under no obligation to accept any loan offers that you receive.

Note: TheGuaranteedLoans is not a direct lender and does not make lending decisions. Instead, we work to connect you with potential lenders based on the information you provide in your application. If you are approved for a loan, the lender will provide you with all the information you need to make an informed decision about whether to accept the loan.

Conclusion

Payday loans can be a risky form of borrowing, but they can also be a valuable resource for borrowers who need cash quickly. If you decide to take out a payday loan in Staffordsville, Kentucky, make sure you understand the risks and have a plan to repay the loan on time. And if you’re looking for a short-term loan, be sure to check out TheGuaranteedLoans to connect with potential lenders and get the cash you need.

F.A.Q.

Can I apply for a payday loan if I am receiving Social Security benefits in Staffordsville, Kentucky?

Yes, individuals who are receiving Social Security benefits are eligible to apply for payday loans in Staffordsville, Kentucky. However, they will need to provide proof of income in order to qualify.

Can I apply for a payday loan if I am a student in Staffordsville, Kentucky?

Yes, students are eligible to apply for payday loans in Staffordsville, Kentucky, as long as they meet the other eligibility requirements. However, it is important to carefully consider whether a payday loan is the best option for managing their finances as a student.