Payday Loans in Welchs Creek, Kentucky

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

Company nameAddressZip codePhone number
Woodforest National Bank 120 Jill St, Berea, KY 40403 +1 (859) 986 - 2328
World Finance Corporation 125 Sam Walton Dr #110, Russellville, KY 42276 +1 (270) 725 - 8511
Cash Express 166B Carol Malone Blvd, Grayson, KY 41143 +1 (606) 475 - 0021
M&B Pawnshop 128 W Main St, Grayson, KY 41143 +1 (606) 474 - 5634
C & C Mortgage 7415 Burlington Pike, Florence, KY 41042 +1 (859) 283 - 9000
Advance America 264 Kroger Center Dr, Morehead, KY 40351 +1 (606) 784 - 4253
Jefferson Financial Services, Inc. 5618 Bardstown Rd, Louisville, KY 40291 +1 (502) 426 - 1333
MoneyGram 1869 N 25th St, Middlesboro, KY 40965 +1 (606) 248 - 5117
Robinson Back 441 S Mayo Trail, Paintsville, KY 41240 +1 (606) 789 - 3406
World Finance Corporation 511 Old Hwy 60 #3, Hardinsburg, KY 40143 +1 (270) 756 - 2824

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Welchs Creek, 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

Welchs Creek, KY payday loan calculator

Understanding Payday Loans in Welchs Creek, Kentucky

Are you in need of quick cash to cover emergency expenses? You may have considered taking out a payday loan. Payday loans are a type of short-term loan that can provide funding fast. In Welchs Creek, Kentucky, payday loans are legal, but it’s important to understand how they work before taking one out.

How do Payday Loans Work in Kentucky?

Payday loans in Kentucky are governed by Kentucky Revised Statutes (KRS) 286.9.100 et seq. Under these laws, only check cashers are authorized to provide payday loans. Other lenders such as banks and credit unions are prohibited from offering payday loans.

When you take out a payday loan, you’ll typically be required to provide a post-dated check or electronic access to your bank account. The lender will then provide you with cash, minus their fees. The loan must be paid back by your next payday, usually within two weeks. If you’re unable to repay the loan on time, the lender may charge additional fees or interest.

Eligibility Requirements for Payday Loans in Welchs Creek, Kentucky

If you’re considering taking out a payday loan in Welchs Creek, Kentucky, you’ll typically need to meet the following eligibility requirements:

  • Be at least 18 years of age
  • Provide proof of income, such as a pay stub or bank statement
  • Have a checking account
  • Provide a valid phone number and email address

While payday loans in Kentucky don’t have a minimum credit score requirement, lenders may still check your credit history before approving your application.

The Pros and Cons of Payday Loans in Welchs Creek, Kentucky

Before taking out a payday loan in Welchs Creek, it’s important to understand both the advantages and disadvantages of this type of loan.

Pros:

  • Fast approval and funding
  • No collateral needed
  • No minimum credit score requirement

Cons:

  • High fees and interest rates
  • Short repayment terms may lead to a cycle of debt
  • Not a long-term solution to financial problems

Interesting Facts and Statistics about Payday Loans in Welchs Creek, Kentucky

  • Kentucky law limits payday loans to a maximum of $500
  • The average payday loan borrower in Kentucky takes out eight loans per year
  • According to a 2019 report by the Kentucky Department of Financial Institutions, the average interest rate on payday loans in Kentucky was 391%

Apply Now for a Payday Loan in Welchs Creek, Kentucky

If you need fast cash to cover an emergency expense, consider applying for a payday loan in Welchs Creek, Kentucky through TheGuaranteedLoans. Our network of lenders can provide you with the funds you need quickly and easily. Fill out our online application today to get started. Remember, TheGuaranteedLoans is a connector service, not a direct lender, and we will facilitate your connection with potential lenders.

F.A.Q.

What fees are associated with payday loans in Welchs Creek, Kentucky?

Payday loans in Welchs Creek, Kentucky may have fees for late payments, insufficient funds, or other penalties. Be sure to carefully review the terms of the loan before agreeing to it.

Can I apply for a payday loan if I am currently in bankruptcy in Welchs Creek, Kentucky?

No, individuals who are currently in bankruptcy are not eligible for payday loans in Welchs Creek, Kentucky.