Payday Loans in Wallingford, Kentucky

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

Company nameAddressZip codePhone number
Ace Pawn Shop 10343 Regina Belcher Hwy, Elkhorn City, KY 41522 +1 (606) 754 - 0503
WesBanco Bank 4810 N Preston Hwy, Shepherdsville, KY 40165 +1 (502) 957 - 7550
First Harrison Bank 140 S Poplar St, Lebanon Junction, KY 40150 +1 (502) 833 - 4603
Heights Finance Corporation 876 KY-1958, Winchester, KY 40391 +1 (859) 744 - 4505
HLT Check Exchange 103 Weddington Branch Rd, Pikeville, KY 41501 +1 (606) 432 - 1514
World Finance 840 Main St S, McKee, KY 40447 +1 (606) 552 - 0030
World Finance 24 Caden Way Ste 1, Russell Springs, KY 42642 +1 (270) 284 - 4009
Fifth Third Bank & ATM 1389 Whittington Dr, Madisonville, KY 42431 +1 (270) 824 - 4480
Cash Express 90 Cs-1014, Tompkinsville, KY 42167 +1 (270) 487 - 1052
Republic Finance 1035 Vandercar Way Suite 1250, Florence, KY 41042 +1 (859) 282 - 0470

Payday Loan Companies in Nearby Cities

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

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

41093

Are Payday Loans Legal In Wallingford, 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

Wallingford, KY payday loan calculator

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

If you’re in a financial bind and need a quick injection of cash, it might be tempting to consider taking out a payday loan. For residents of Wallingford, Kentucky, payday loans are legal for check cashers, offering a temporary solution for short-term financial needs. However, before you take the plunge, it’s important to understand what you’re getting into.

In this article, we’ll cover the basics of payday loans in Wallingford, Kentucky, including how they work, what the benefits and drawbacks are, and what to watch out for. We’re here to help you make an informed decision that’s right for you and your financial situation.

How Do Payday Loans Work?

Payday loans are designed to offer a short-term cash infusion until your next paycheck arrives. In Wallingford, Kentucky, these loans are typically for amounts up to $500 and are due back within two weeks. To get a payday loan, you’ll need to provide proof of income and have a checking account in good standing.

Once you’re approved for a payday loan, the lender will provide you with the cash you need, minus a fee. This fee is usually a percentage of the loan amount and can range anywhere from 10% to 30%. You’ll then be required to provide a check or authorization for automatic debit to repay the loan in full, plus the fee, on your next payday.

Benefits of Payday Loans

The main benefit of a payday loan is the ability to get quick cash when you need it. If you’re facing an unexpected expense, like a car repair or medical bill, a payday loan can help you cover the cost. Because payday loans are generally easy to qualify for and don’t require collateral, they can be a viable option for people who might not be able to get a traditional bank loan.

Drawbacks of Payday Loans

While payday loans can be useful in certain situations, they also come with significant drawbacks. For one thing, the fees associated with these loans can be very high, making them an expensive borrowing option. Additionally, because payday loans are due back so quickly, it can be easy for borrowers to become trapped in a cycle of debt, constantly taking out new loans to pay off previous ones.

What to Watch Out For

If you’re considering a payday loan in Wallingford, Kentucky, it’s important to read the terms and conditions carefully. Pay attention to the fees and interest rates, and make sure you understand exactly when the loan is due and how much you’ll be expected to repay. Additionally, be wary of lenders who try to take advantage of your financial situation by tacking on extra fees or pressuring you to take out more money than you need.

Facts and Statistics

  • According to the Kentucky Department of Financial Institutions, there were 1,132 licensed check cashers in the state as of December 2020.
  • In Kentucky, payday loans are legal for check cashers, which are businesses that offer check-cashing and other financial services.
  • The maximum loan amount for a payday loan in Kentucky is $500, and the maximum loan term is 14 days.
  • The average APR (annual percentage rate) for payday loans in Kentucky is 460%, one of the highest in the country.

Apply Now

Ready to apply for a payday loan in Wallingford, Kentucky? TheGuaranteedLoans can help connect you with potential lenders who offer these types of loans. Just fill out our online application form, and we’ll match you with lenders who meet your needs. Keep in mind that TheGuaranteedLoans is not a direct lender but a connector service, designed to help you find the right loan for your situation.

Remember, payday loans are a serious financial commitment, and you should only take one out if you’re able to repay it on time and in full. If you’re unsure about whether a payday loan is right for you, contact a financial advisor or credit counselor for guidance.

F.A.Q.

Can I apply for a payday loan if I am on active military duty in Wallingford, Kentucky?

Yes, individuals on active military duty are eligible to apply for payday loans in Wallingford, Kentucky. However, there are special protections in place for military members, so be sure to inform the lender if you are on active duty.

Are there any restrictions on the interest rate for payday loans in Wallingford, Kentucky?

Yes, the maximum interest rate for payday loans in Wallingford, Kentucky is 390% APR.