Payday Loans in Trosper, Kentucky

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

Company nameAddressZip codePhone number
First Community Bank 114 E Jackson St, Clinton, KY 42031 +1 (270) 653 - 4301
Peoples Exchange Bank 53 E Pendleton St, Stanton, KY 40380 +1 (606) 663 - 9500
First National Bank 2140 US-127, Russell Springs, KY 42642 +1 (270) 866 - 4343
Clinton Bank 220 E Clay St, Clinton, KY 42031 +1 (270) 653 - 4001
Check Into Cash 4046 Fort Campbell Blvd, Hopkinsville, KY 42240 +1 (877) 244 - 8254
Easy Money Shoppe 1014 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 2000
Citizens Commerce Bank 108 Sea Hero Rd A, Frankfort, KY 40601 +1 (502) 695 - 7233
Pioneer Credit Company 416 Hopkinsville Rd, Russellville, KY 42276 +1 (270) 725 - 9185
Cash Express 128 Clark St, Flemingsburg, KY 41041 +1 (606) 845 - 5313
PNC Mortgage 400 S Main St, London, KY 40741 +1 (606) 877 - 4521

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Trosper, 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

Trosper, KY payday loan calculator

What are Payday Loans?

Payday loans are a type of short-term loan that can help financial emergencies such as unexpected bills, medical expenses, or car repairs. These loans are typically due in full on the borrower’s next payday, which is where they get their name from.

Payday Loans in Trosper, Kentucky

Payday loans in Trospser, Kentucky, are legal, but only for check cashers. This means that while payday lenders can technically operate in Trosper, they must be licensed with the state as check cashers.

It’s important to note, however, that payday loans can be incredibly expensive due to their high APR rates. The maximum APR rate that lenders can charge in Trosper is 459%, and borrowers are only allowed to take out up to two loans at a time, with a total maximum of $500. Borrowers also cannot renew or rollover their loans, which means they must pay off the entire balance on their next payday.

The Application Process

When applying for a payday loan in Trospser, Kentucky, borrowers must provide proof of income, a government-issued ID, and a personal check. The check is post-dated for the borrower’s next payday, and if the borrower is unable to repay the loan on time, the lender can deposit the check for payment.

While payday loans can be an attractive option for those in need of quick cash, it’s important to carefully consider the high costs associated with these loans. Alternatives such as personal loans or credit cards may have lower interest rates and fees, making them a more cost-effective solution in the long run.

Interesting Facts and Statistics

  • The average APR rate for a payday loan in Kentucky is 391%.
  • According to a study by Pew Charitable Trusts, more than 80% of payday loans in Kentucky are taken out within two weeks of paying off a previous payday loan.
  • According to the Kentucky Department of Financial Institutions, nearly 90% of payday loans in Kentucky are taken by borrowers who take out five or more loans each year.

Apply Now

If you’re considering a payday loan in Trosper, Kentucky, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we can help you find the loan that meets your needs. Fill out our simple online application today to get started.

Please note that TheGuaranteedLoans is not a direct lender. We work with a network of trusted lenders to help you find the loan that’s right for you.

F.A.Q.

Is there a cooling-off period between payday loan payments in Trosper, Kentucky?

Yes, there is a mandatory cooling-off period of at least 7 days between payday loan payments in Trosper, Kentucky.

Can I be charged additional fees for late or missed payments on my payday loan in Trosper, Kentucky?

Yes, you may be charged additional fees for late or missed payments on your payday loan in Trosper, Kentucky.