Payday Loans in Turners Station, Kentucky

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

Company nameAddressZip codePhone number
Regency Finance Company 11 Village Plz, Shelbyville, KY 40065 +1 (502) 633 - 3060
Southwest Funding LP 2850 Adams St, Paducah, KY 42001 +1 (270) 442 - 7557
Cash Express 228 Lexington Rd, Lancaster, KY 40444 +1 (859) 792 - 1926
Cash Express 483 N Wallace Wilkinson Blvd, Liberty, KY 42539 +1 (606) 787 - 0818
Cash Express 103 Morningside Dr, Marion, KY 42064 +1 (270) 965 - 9965
Cecilian Bank 1119 Old Highway 60 East, Hardinsburg, KY 40143 +1 (270) 756 - 2154
Jefferson Financial Services, Inc. 5618 Bardstown Rd, Louisville, KY 40291 +1 (502) 426 - 1333
Limestone Bank 949 S Dixie Hwy, Munfordville, KY 42765 +1 (270) 524 - 7283
First Financial Bank 2652 N Bend Rd, Hebron, KY 41048 +1 (859) 815 - 1520
Cash Express 15 2nd Street, Vanceburg, KY 41179 +1 (606) 796 - 0142

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Turners Station, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Florence, KY, Payday Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, Payday Loans in Louisville, KY, 24-Hour Loan in Owensboro, KY and Guaranteed 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 Turners Station, KY.

Beautiful sights of Turners Station, KY

Are Payday Loans Legal In Turners Station, 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

Turners Station, KY payday loan calculator

Payday Loans in Turners Station, Kentucky: Understanding the Basics

When unexpected expenses arise, such as medical bills, home repairs, or car troubles, many individuals in Turners Station, Kentucky turn to payday loans as a source of financial relief. Payday loans are a common way for individuals to obtain quick cash, with the promise of repaying the loan with their next paycheck.

It’s important to understand the basics of payday loans before taking out one of these loans. The state of Kentucky has specific laws and regulations regarding payday loans, and Turners Station residents must follow these regulations in order to protect themselves from predatory lenders and high interest rates.

Legalities of Payday Loans in Turners Station, Kentucky

Payday loans are legal in Kentucky, but only for check cashers. Check cashers are defined as entities who cash checks for a fee, and may also offer payday loans to customers. Under Kentucky law, payday loans must adhere to specific rules and regulations in order to protect borrowers from predatory lending practices.

Some of the key regulations for payday loans in Kentucky include:

  • Lenders may only provide loans up to $500
  • The loan term must be between 14-60 days
  • The maximum finance charge for a $100 loan is $15
  • A borrower may only have two outstanding loans at once, with a total combined amount of $500
  • Lenders must provide borrowers with a written agreement outlining the terms of the loan, including the total cost of the loan and the APR
  • Lenders are prohibited from rolling over loans

It’s important for Turners Station residents to be aware of these regulations and to only work with lenders who follow them. Doing so can protect them from high interest rates, aggressive collection practices, and other unfair lending practices.

Applying for a Payday Loan in Turners Station, Kentucky

The process of applying for a payday loan can vary by lender, but there are some general steps that most borrowers can expect to follow.

First, the borrower must provide proof of income and identification. This can include a recent pay stub and a driver’s license or other government-issued ID. They must also provide their bank account information, as the lender will deposit the loan funds directly into the borrower’s account.

Once the borrower is approved, the loan funds will typically be deposited into their bank account within one business day. The borrower must then repay the loan, including any finance charges, when they receive their next paycheck.

Understanding the Risks of Payday Loans

While payday loans can offer quick relief for unexpected expenses, they can also come with significant risks. The high interest rates and short repayment terms can make it difficult for borrowers to repay the loan on time, leading to a cycle of debt.

It’s important for borrowers to carefully consider the risks and benefits of payday loans before taking out one of these loans. If possible, it may be better to explore other options for financial assistance, such as a personal loan from a bank or credit union, or asking for help from family or friends.

Interesting Facts and Statistics about Payday Loans in Turners Station, Kentucky

  • The average payday loan amount in Kentucky is $327
  • Kentucky has the 7th highest average payday loan interest rate in the country, at 456%
  • Over 83,000 payday loans were taken out in Kentucky in 2019
  • Payday lenders in Kentucky earned over $44 million in fees in 2019
  • In 2019, 1 in 6 Kentucky adults had taken out a payday loan in the past 5 years

Apply Now

If you are in need of financial assistance and are considering a payday loan, TheGuaranteedLoans can help connect you with potential lenders. We are not a direct lender, but a connector service that can help you find the loan that best fits your needs. Visit our website today and fill out an online application to get started.

Remember, it’s important to carefully consider the risks and benefits of payday loans before taking out one of these loans. Make sure you understand the regulations in Turners Station, Kentucky, and only work with lenders who follow these regulations. With the right information and guidance, payday loans can offer a viable option for navigating unexpected expenses and financial emergencies.

F.A.Q.

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

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

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

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