Payday Loans in Gray Summit, Missouri

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No payday loan companies in Gray Summit, MO. Consider companies in other cities:

Company nameAddressZip codePhone number
Check Into Cash 12121-Q, Blue Ridge Ext, Grandview, MO 64030 +1 (816) 763 - 7700
United States Postal Service 102 Main St, Cooter, MO 63839 +1 (800) 275 - 8777
Missouri Title Loans, Inc. 1904 Missouri Blvd, Jefferson City, MO 65109 +1 (573) 556 - 6363
ABC Payday Loans 131 Main St, Troy, MO 63379 +1 (636) 462 - 8828
Empire Finance 523 Jeffco Blvd, Arnold, MO 63010 +1 (636) 287 - 9728
Payday Loan Express 908 N Glenstone Ave, Springfield, MO 65802 +1 (417) 863 - 6200
LPL Financial 2997 Clarkson Rd 100, Chesterfield, MO 63017 +1 (636) 200 - 4200
Community Quick Cash Advance and Personal Loan 1671 S Old Hwy 141, Fenton, MO 63026 +1 (636) 349 - 5006
Missouri Title Loans, Inc. 614 Business Loop 70 W, Columbia, MO 65203 +1 (573) 874 - 6839
Flexicash 509, Huck Finn Shopping Center, Hannibal, MO 63401 +1 (573) 248 - 2156

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gray Summit, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Springfield, MO, Payday Loans in Wentzville, MO, Guaranteed Loans in Ballwin, MO, Payday Loan Companies in Blue Springs, MO, Payday Loan for Cape Girardeau, MO, Payday Loan Without a Credit Check in Chesterfield, MO, Payday Loan Without a Credit Check in Columbia, MO and Payday Loan for Florissant, 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 Gray Summit, MO.

Beautiful sights of Gray Summit, MO

Payday Loans Available in Gray Summit, MO By The Following ZIP Codes:

63039

Are Payday Loans Legal In Gray Summit, 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

Gray Summit, MO payday loan calculator

Understanding Payday Loans in Gray Summit, Missouri

Are you struggling to make ends meet but have a financial emergency or an unexpected expense that you can’t afford to cover? If so, you may be considering applying for a payday loan. In Missouri, payday loans are legal, but it’s essential to understand how they work and the potential risks involved before taking out a loan.

How do payday loans work in Gray Summit, Missouri?

Payday loans are a type of short-term loan that you can typically get quickly without a credit check and with minimal documentation. In Gray Summit, Missouri, the maximum amount you can borrow is $500, and the loan term can be between 14 and 31 days. However, the actual loan amount and loan term can vary depending on the lender.

To obtain a payday loan, you must have a steady source of income and provide proof of identity, address, and employment. Once you’re approved, the lender can give you the funds in cash, on a prepaid debit card, or directly deposited into your bank account.

The cost of payday loans in Gray Summit, Missouri

While payday loans can be a quick and convenient way to access money in an emergency, they come with high fees and interest rates. In Missouri, payday lenders can charge up to 75% in interest and fees. For example, if you borrow $100, you may be required to pay back $175 after two weeks.

It’s essential to read the loan agreement carefully and understand all the fees and charges associated with the loan. Ensure you can afford to repay the loan on time and in full to avoid late fees and additional interest charges.

Risks of payday loans

Payday loans can be a risky way to borrow money, mainly when you’re struggling financially. With high fees and short repayment terms, they can create a cycle of debt that’s challenging to break. It’s easy to get trapped in a loop where you’re constantly taking out new loans to meet your financial obligations, leaving you more indebted and with less money to pay for your regular expenses.

To avoid getting into a cycle of debt, you must have a plan to repay the loan on time and in full. If you can’t pay back the loan when it’s due, you may be able to extend the loan term by paying additional fees, but this will only increase the cost of the loan and worsen your financial situation.

Interesting facts about Payday loans in Gray Summit, Missouri

  • Missouri has more than 1,000 payday loan storefronts, more than the number of McDonald’s and Starbucks combined.
  • More than 83% of payday loans are taken out within two weeks of the borrower repaying a previous loan, suggesting that many borrowers are using the loans to cover recurring expenses.
  • According to a report by Pew Charitable Trusts, the average payday loan borrower in Missouri takes out eight loans per year, with a total loan value of $3,000 and spends $520 in fees on those loans.

Apply now

If you think a payday loan is the right option for you, TheGuaranteedLoans can help you connect with potential lenders who may be able to offer you a loan. Our online application process is simple, and you can get a decision within minutes.

Note that TheGuaranteedLoans is not a direct lender and does not make any credit decisions. We are a connector service that facilitates matching borrowers with lenders. Our goal is to help you find the right lender for your needs, but we do not guarantee approval for any loan.

If you’re struggling to make ends meet in Gray Summit, Missouri, a payday loan may seem like a quick solution. However, it’s essential to consider the potential risks and costs associated with these loans before applying. Make sure you understand the loan agreement and have a plan to repay the loan on time and in full to avoid further financial difficulties.

F.A.Q.

Can I file a complaint if I have a problem with a payday lender in Gray Summit, Missouri?

Yes, you can file a complaint with the Missouri Division of Finance.

Is there any support or assistance available for borrowers struggling to repay payday loans in Gray Summit, Missouri?

Yes, the Missouri Division of Finance offers resources and guidance for borrowers who are struggling with payday loan debt. Additionally, there are non-profit organizations and credit counseling services that offer assistance with debt management.