Payday Loans in Windsor, Kentucky

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

Company nameAddressZip codePhone number
Lendmark Financial Services LLC 80 Madison Square Dr, Madisonville, KY 42431 +1 (270) 825 - 2722
World Finance 1261 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 6129
Eagle Finance 130 W Tiverton Way 100, Lexington, KY 40503 +1 (859) 305 - 1020
Community Trust Bank 107 W Main St, Hindman, KY 41822 +1 (606) 785 - 5095
World Finance Corporation 4553 N Mayo Trail, Pikeville, KY 41501 +1 (606) 437 - 1431
Personal Finance Company 252 N Main St #2, Russellville, KY 42276 +1 (270) 731 - 0100
Lewis County Pawn 749 Fairlane Dr S, Vanceburg, KY 41179 +1 (606) 796 - 9689
Pioneer Credit Company 811 Taylorsville Rd, Shelbyville, KY 40065 +1 (502) 647 - 5404
Oaks Credit Corporation 790 W Dixie Ave #100, Elizabethtown, KY 42701 +1 (270) 769 - 0055
Harlan Check Exchange 2366 S, US-421, Harlan, KY 40831 +1 (606) 574 - 0750

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Windsor, 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

Windsor, KY payday loan calculator

Understanding Payday Loans in Windsor, Kentucky

When it comes to borrowing money, there are a variety of options available – installment loans, personal loans, title loans, and, of course, payday loans. A payday loan is a type of short-term loan that is typically due in full on your next payday. These loans are often marketed as a quick and easy solution to unexpected expenses or financial emergencies. However, it’s important to understand the terms, risks, and regulations before taking out a payday loan.

Legal Status of Payday Loans in Windsor, Kentucky

First and foremost, it’s important to note that payday loans are legal in the state of Kentucky. However, there are specific regulations in place to protect consumers from predatory lending practices. In Kentucky, only check cashers are allowed to offer payday loans, and they are required to be licensed and follow certain guidelines.

How Payday Loans Work

Payday loans are typically small-dollar loans, ranging from a few hundred to a few thousand dollars. The repayment terms are short, usually just a few weeks or until your next payday. To apply for a payday loan, you will typically need to provide proof of income, identification, and your bank account information. The lender will use your upcoming paycheck as collateral for the loan. If you are approved, the funds will be deposited into your bank account, and the lender will withdraw the repayment amount on the due date.

The Risks of Payday Loans

While payday loans may seem like a quick and easy solution to financial troubles, they come with a number of risks. Most notably, the interest rates and fees for payday loans are extremely high. In some cases, the APRs can reach up to 400%. This means that if you were to borrow $500, you could end up paying back $600 or more in just a few weeks. These high costs can quickly spiral out of control, leading to a cycle of debt that is difficult to break.

In addition, if you are unable to repay the loan on time, you may face additional fees and penalties. Some lenders also have the ability to withdraw funds directly from your bank account, which can cause overdraft fees or other financial problems. It’s important to carefully consider the risks before taking out a payday loan.

Alternatives to Payday Loans

If you are in need of quick cash, there are other options available that may be less risky than payday loans. For example, you could consider using a credit card cash advance, taking out a personal loan from a bank or credit union, or even borrowing from friends or family. These options may have lower interest rates and fees, and may be more flexible in terms of repayment terms.

The Application Process with TheGuaranteedLoans

If you do decide to apply for a payday loan, it’s important to work with a reputable lender. At TheGuaranteedLoans, we connect borrowers with potential lenders who offer payday loans, installment loans, and other financial products. We are not a direct lender, but rather a connector service that can help you find the right loan for your situation.

To get started, simply fill out our online application form. We’ll ask for some basic information about your income, employment, and financial situation. Once we receive your application, we’ll match you with potential lenders who may be able to provide you with the funds you need. From there, you can review the loan terms and decide whether or not to accept the offer.

Interesting Facts and Statistics About Payday Loans in Windsor, Kentucky

  • In Kentucky, payday lenders are prohibited from charging more than $15 per $100 borrowed in fees or interest
  • According to a report by the Center for Responsible Lending, the average payday borrower in Kentucky takes out 10 loans per year, and spends over $500 in fees alone
  • 1 in 5 payday borrowers in Kentucky end up defaulting on their loan, leading to additional fees and potential legal action

Conclusion

Payday loans can be a tempting solution to financial problems, but they come with high costs and risks that consumers should be aware of. Before taking out a payday loan, make sure you understand the terms and regulations, and consider other options that may be less risky. If you do decide to apply for a payday loan, work with a reputable lender, such as those connected through TheGuaranteedLoans. By taking the time to understand your options and make an informed decision, you can avoid the pitfalls of payday lending and make the best choice for your financial health.

Apply Now

If you’re in need of a payday loan, getting started is easy with TheGuaranteedLoans. Simply fill out our online application form, and we’ll match you with potential lenders who may be able to provide you with the funds you need. Remember, we are a connector service, not a direct lender, so you can trust us to help you find the right loan for your situation. Apply now and get connected with lenders in Windsor, Kentucky and beyond!

F.A.Q.

Can I cancel or void my payday loan in Windsor, Kentucky?

Yes, you have the right to cancel or void your payday loan within 14 days of signing the loan agreement in Windsor, Kentucky.

Can I be charged a penalty for prepaying my payday loan in Windsor, Kentucky?

No, you cannot be charged a penalty for prepaying your payday loan in Windsor, Kentucky.