Payday Loans in Bragg City, Missouri

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No payday loan companies in Bragg City, MO. Consider companies in other cities:

Company nameAddressZip codePhone number
Sun Loan Company 1349 Maple St, Farmington, MO 63640 +1 (573) 756 - 1623
World Finance 187 Main St, Warsaw, MO 65355 +1 (660) 428 - 1293
Check Into Cash 518 Cottonwood Plaza, Kennett, MO 63857 +1 (573) 888 - 1333
Central Bank 100 State Rd Ae, New Bloomfield, MO 65063 +1 (573) 491 - 3611
Great Southern Bank 528 S Jefferson Ave, Lebanon, MO 65536 +1 (417) 532 - 9168
Progressive Ozark Bank-Hartville, MO 368 Main St, Hartville, MO 65667 +1 (417) 741 - 7777
Freedom Bank of Southern Missouri 24829 State Hwy 39, Shell Knob, MO 65747 +1 (417) 858 - 3136
Money Mart 5520 NE Antioch Rd, Kansas City, MO 64119 +1 (816) 459 - 7130
U.S. Bank Branch 200 E Rolla St, Hartville, MO 65667 +1 (417) 741 - 6161
Commerce Bank 100 Huck Finn Shopping Center, Hannibal, MO 63401 +1 (573) 221 - 0103

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bragg City, MO, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Joplin, MO, Payday Loans in Kansas City, MO, Same Day Loans in Lee's Summit, MO, Payday Loans in Liberty, MO, Payday Loans in Saint Charles, MO, No Credit Check Loans in Saint Joseph, MO, Payday Loans in Saint Louis, MO and Payday Loans in Saint Peters, MO. 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 Bragg City, MO.

Payday Loans Available in Bragg City, MO By The Following ZIP Codes:

63827

Are Payday Loans Legal In Bragg City, Missouri?

Loan Rates and Fees, Laws and Regulations in Missouri.

Missouri Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)443
Maximum Loan Amount$500 or less
Minimum Loan Term14 days
Maximum Loan Term31 days
Number of Rollovers Allowed6
Finance ChargesNo interest and fees in excess of 75% of the initial loan amount on any single loan

Bragg City, MO payday loan calculator

Understanding Payday Loan Regulations in Bragg City, Missouri

Payday loans are a relatively common form of financing for many households in Missouri. These loans are designed to be a short-term solution for borrowers who are facing unexpected financial emergencies. They can be a helpful tool when used responsibly, but it is important to understand the regulations that govern them.

In Bragg City, Missouri, payday loans are legal. However, the state has minimum requirements that need to be met by both the borrower and the lender.

How Do Payday Loans Work?

Payday loans are typically small-dollar loans that are borrowed against a future paycheck. The borrower writes a post-dated check to the lender for the total amount of the loan plus fees, and the lender provides the borrower with cash in exchange. When the borrower’s paycheck is deposited, the lender can cash the check to recoup their funds.

Payday loans are designed to be a short-term solution for unexpected financial emergencies, such as a car repair or medical bill. They are not intended to be used as a long-term solution for ongoing financial issues or to pay off other debts. Borrowers should carefully consider the cost of the loan, including the fees and interest, and only borrow what they need and can realistically pay back.

Payday Loan Regulations in Bragg City, Missouri

While payday loans are legal in Missouri, there are regulations in place to protect consumers. The Missouri Division of Finance is responsible for regulating payday loan lenders and enforcing the state’s laws.

Missouri law allows lenders to charge up to 75% of the original loan amount in fees and interest. However, the loan term must be no less than 14 days and no more than 31 days. Borrowers are allowed to have one loan at a time and can have up to six loans in a 12-month period.

Borrower Requirements

To be eligible for a payday loan in Bragg City, Missouri, borrowers must meet certain requirements:

  • Be at least 18 years old
  • Show proof of regular income
  • Provide a valid ID
  • Have an active checking account

Lender Requirements

Payday loan lenders in Bragg City, Missouri must have a valid license from the Missouri Division of Finance. They are required to disclose the fees and interest rates associated with the loan and provide the borrower with a written agreement that outlines the terms and conditions of the loan.

Lenders are also required to follow certain guidelines when it comes to loan rollovers. If a borrower is unable to pay back their loan on time, the lender may offer a rollover option. However, they are only allowed to offer two renewal options, and the total outstanding balance cannot exceed $500.

Interesting Facts and Statistics About Payday Loans in Bragg City, Missouri

  • According to a report by the Missouri Division of Finance, payday loans are the most common type of consumer lending in the state, with over 1.6 million loans issued in 2019.
  • The average payday loan in Missouri is $307.
  • Missouri has the highest average number of payday loans per borrower in the country.
  • Payday loan borrowers in Missouri are more likely to live in low-income areas and have lower credit scores than other borrowers.
  • In 2018, Missouri voters rejected a proposed ballot measure that would have capped interest rates on payday loans at 36%.

Apply Now

Are you facing an unexpected financial emergency? TheGuaranteedLoans can help you connect with potential lenders who offer payday loans in Bragg City, Missouri. Our simple and secure online application process makes it easy to get the funds you need.

Remember, TheGuaranteedLoans is a connector service, not a direct lender. We work with a network of reputable lenders who can provide you with a loan that meets your needs. Start your application today and get the help you need.

F.A.Q.

What do I need to bring to the payday lender to apply for a loan?

You will need to provide proof of income, a valid government-issued ID, and a blank check from an active checking account in your name.

Are there any penalties for defaulting on a payday loan in Bragg City, Missouri?

Yes, if you default on a payday loan, the lender may charge additional fees and interest, and may pursue legal action to collect the debt.