Payday Loans in Cottondale, Alabama

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

Company nameAddressZip codePhone number
Tuscaloosa VA Federal Cu 719 N Washington St, Livingston, AL 35470 +1 (205) 652 - 1075
Speedy Cash 1129 Dr M L K Jr Expy, Andalusia, AL 36420
Professional Financial Services 4851 Cahaba River Rd 109, Birmingham, AL 35243 +1 (205) 262 - 1761
Lendmark Financial Services LLC 2701 Mall Rd Suite 14, Florence, AL 35630 +1 (256) 275 - 4052
Easy Money 4820 University Dr NW, Huntsville, AL 35810
Key Loan Co 2860 SpringHill Ave, Mobile, AL 36607 +1 (251) 476 - 6551
TitleMax Title Loans 1005 Decatur Hwy, Gardendale, AL 35071 +1 (205) 608 - 3546
Complete Cash 2211 Woodward Ave, Muscle Shoals, AL 35661 +1 (256) 383 - 5838
Advance America 1210 S. US Hwy. 231, Ozark, AL 36360
1st Franklin Financial 1131 M.L.K. Jr Expy, Andalusia, AL 36420

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cottondale, AL, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Prichard, AL, Short-term Loans in Sylacauga, AL, Guaranteed Loans in Talladega, AL, Payday Loans in Troy, AL, Payday Loans in Trussville, AL, Payday Loan Without a Credit Check in Tuscaloosa, AL, Guaranteed Loans 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 Cottondale, AL.

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Payday Loans Available in Cottondale, AL By The Following ZIP Codes:

35404, 35453

Are Payday Loans Legal In Cottondale, 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

Cottondale, AL payday loan calculator

Advise to read before applying

Payday Loans in Cottondale, Alabama: What You Need to Know

Payday loans are a common type of short-term loan that many people turn to when they need quick cash for emergency expenses. If you’re considering getting a payday loan in Cottondale, Alabama, there are some important things you need to know. In this article, we’ll explore how payday loans work, the regulations surrounding them in Alabama, and options for getting a loan.

How do payday loans in Cottondale, Alabama work?

Payday loans are short-term loans that are typically due on your next payday. In Alabama, lenders can charge up to 17.5% interest on payday loans, and the maximum loan amount is $500. The loan term cannot exceed 31 days.

If you’re approved for a payday loan, the lender will typically require you to provide a post-dated check or authorize an electronic debit for the full loan amount plus any fees and interest. If you don’t pay back the loan on time, the lender can deposit the check or initiate the debit. This can result in overdraft fees and damage to your credit score.

What are the regulations surrounding payday loans in Alabama?

While it’s legal to get a payday loan in Alabama, there are some regulations in place to protect borrowers. For example, lenders are required to disclose all fees and interest rates to borrowers before loan approval. In addition, lenders cannot renew or extend a payday loan for more than six consecutive months.

There is also a database in Alabama that lenders must use to track payday loans. This database helps prevent borrowers from taking out multiple loans at once and helps the state regulate lenders to make sure they follow all regulations.

What are the alternative options for getting a loan?

If you’re in need of quick cash, there are other options besides payday loans.

  • Personal loans: Personal loans from banks or credit unions may have lower interest rates and longer loan terms than payday loans.
  • Credit cards: If you have a credit card, you may be able to use it to cover emergency expenses. Just be sure to pay off your balance as soon as possible to avoid high interest charges.
  • Friends and family: Consider reaching out to friends or family members who may be able to offer a loan or help cover your expenses.

Interesting Facts and Statistics about Payday Loans in Cottondale, Alabama

  • According to the Alabama State Banking Department, there were 234,329 payday loans issued in Alabama in 2020, totaling over $87 million in loan volume.
  • The average payday loan amount in Alabama is $350. However, some loans can be as high as $500.
  • Alabama law prohibits borrowers from taking out more than $500 in payday loans at one time.

Apply Now

If you’re in need of a payday loan in Cottondale, Alabama, TheGuaranteedLoans can help connect you with potential lenders. We’re a connector service, not a direct lender, and we work with a network of trusted partners to help you find a loan that fits your needs and budget. To get started, simply fill out our online application form and we’ll match you with lenders who may be able to offer you a loan. Apply now to get the cash you need!

F.A.Q.

Is there a limit on the amount of fees and interest that a payday lender can charge in Cottondale, Alabama?

Yes, there is a limit on the amount of fees and interest that a payday lender can charge in Cottondale, Alabama. The state has specific regulations in place that limit the amount of fees and interest that can be charged on payday loans. Lenders are required to disclose the fees and interest charges associated with the loan upfront, and borrowers should carefully review these charges before agreeing to the loan.

Can a payday lender garnish my wages if I default on my loan in Cottondale, Alabama?

Yes, a payday lender can garnish your wages if you default on your loan in Cottondale, Alabama. If you are unable to repay your payday loan, the lender may be able to take legal action to collect the debt, including garnishing your wages. It is important to avoid defaulting on your loan if at all possible, as this can have serious consequences.

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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