Payday Loans in Campbell, Alabama

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No payday loan companies in Campbell, AL. Consider companies in other cities:

Company nameAddressZip codePhone number
Tower Loan 4669 US-431, Albertville, AL 35950
West Alabama Bank & Trust 211 Lafayette St, Livingston, AL 35470 +1 (205) 652 - 9636
Cash Station 209 W Martin Luther King Hwy # G, Tuskegee, AL 36083
Local Finance and Tax Service 1094 M.L.K. Jr Expy, Andalusia, AL 36420 +1 (334) 222 - 0586
North American Title Loans 320 N McKenzie St, Foley, AL 36535 +1 (251) 943 - 9000
Covington Credit 1550 Opelika Rd, Auburn, AL 36830 +1 (334) 821 - 7034
DO Rite N Ride Title Loan 75261 AL-77, Lincoln, AL 35096 +1 (205) 763 - 0955
Walmart Money Center 969 US-80, Demopolis, AL 36732
World Finance 1023 Douglas Ave, Brewton, AL 36426
Liberty Finance 957 N Brindlee Mountain Pkwy, Arab, AL 35016 +1 (256) 586 - 3603

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Campbell, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Prichard, AL, Payday Loans in Sylacauga, AL, Payday Loans in Talladega, AL, Bad Credit Loans in Troy, AL, Payday Loans in Trussville, AL, Payday Loans in Tuscaloosa, AL, Emergency Loan in Valley, AL and Payday Loans in Vestavia Hills, AL. 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 Campbell, AL.

Useful Articles

Are Payday Loans Legal In Campbell, Alabama?

Loan Rates and Fees, Laws and Regulations in Alabama.

Alabama Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)456
Maximum Loan Amount$500
Minimum Loan Term10 days
Maximum Loan Term31 days
Number of Rollovers Allowed1
Finance Charges17.5% of the amount advanced

Campbell, AL payday loan calculator

Advise to read before applying

Payday Loans in Campbell, Alabama: Understanding the Basics

In Alabama, payday loans are legal and accessible to people in need of emergency funds. While they can be a useful tool, it’s important to understand how payday loans work and the risks involved before deciding to take one out. In this article, we’ll explore the key aspects of payday loans in Campbell, Alabama, and help you make an informed decision.

What are Payday Loans?

A payday loan is a short-term loan that is typically due on the borrower’s next payday. They are often used by people who need quick access to funds to cover unexpected expenses or emergencies. The loan amount is usually small, ranging from $100 to $500 in Alabama.

Payday loans can be convenient because they don’t require a credit check and are easy to obtain. Borrowers usually need to show proof of income and have an active checking account to qualify. However, they typically come with high interest rates and fees, making them an expensive option for borrowers.

How Do Payday Loans Work in Campbell, Alabama?

In Campbell, Alabama, payday lenders are required to follow certain regulations to protect borrowers. The Alabama Deferred Presentment Services Act sets limits on loan amounts, fees, and loan terms.

The maximum loan amount is $500, and lenders are not allowed to charge more than 17.5% of the loan amount in fees. The loan term must be between 10 and 31 days, and lenders are allowed to charge a maximum of 3% per month on the unpaid balance if the borrower defaults on the loan.

Alabama law also prohibits borrowers from taking out more than one payday loan at a time and requires lenders to provide a written agreement outlining the terms and conditions of the loan.

The Risks of Payday Loans in Campbell, Alabama

While payday loans can be a useful tool for people in need of emergency funds, they come with significant risks. The high interest rates and fees can make it difficult for borrowers to repay the loan on time, leading to a cycle of debt and financial hardship.

According to the Alabama State Banking Department, the average annual percentage rate (APR) for a payday loan in Alabama is 456%. This means that a borrower who takes out a $500 payday loan and repays it in full on the due date will end up paying a total of $587 in fees and interest.

If the borrower is unable to repay the loan on time, they may be hit with additional fees and interest charges and could end up owing much more than they originally borrowed. This can lead to a cycle of debt that can be difficult to escape.

Interesting Facts and Statistics

  • In Alabama, payday lenders are required to have a valid license from the Alabama State Banking Department to operate.
  • According to a report by the Center for Responsible Lending, payday lenders in Alabama make $125 million in fees from borrowers each year.
  • Alabama is one of 27 states that allow payday lending with some restrictions.
  • The average payday loan in Alabama is $322, and the average borrower takes out 8 loans per year.

Apply Now with TheGuaranteedLoans

If you’re in need of emergency funds and considering a payday loan in Campbell, Alabama, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and we’ll work with you to find a loan that fits your needs and budget.

It’s important to remember that TheGuaranteedLoans is a connector service, not a direct lender. We’ll help facilitate your connection with potential lenders, but it’s up to you to carefully review the loan terms and make sure you understand the risks involved before accepting a loan offer.

Ready to get started? Fill out our online application now and get connected with potential lenders in Campbell, Alabama.

Conclusion

Payday loans in Campbell, Alabama, can be a useful tool for people who need quick access to emergency funds. However, they come with significant risks and should be used as a last resort. If you’re considering a payday loan, make sure you understand the terms and conditions of the loan and have a plan to repay it on time.

At TheGuaranteedLoans, we’re committed to helping you make an informed decision. Our online application process is quick and easy, and we’ll work with you to find a loan that fits your needs and budget. Apply now and get connected with potential lenders in Campbell, Alabama.

F.A.Q.

How much can I borrow with a payday loan in Campbell, Alabama?

The amount that a borrower can borrow with a payday loan in Campbell, Alabama is limited by state law. The maximum amount that can be borrowed is $500, and the minimum amount is $100.

How long do I have to repay a payday loan in Campbell, Alabama?

Payday loans in Campbell, Alabama are typically due on the borrower's next payday, which is typically within two to four weeks of receiving the loan. However, some lenders may offer longer repayment terms, depending on the borrower's individual circumstances.

Look for Short-Term Loans in Other Cities:

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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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