Payday Loans in Townley, Alabama

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

Company nameAddressZip codePhone number
22nd State Bank 21 Eufaula Ave, Clayton, AL 36016 +1 (334) 775 - 9531
Advance America 614 Boll Weevil Cir, Enterprise, AL 36330
West Alabama Bank & Trust 30330 AL-17, Millport, AL 35576 +1 (205) 596 - 3378
EZ Money 3728 McFarland Blvd E, Tuscaloosa, AL 35405
Synergy Loan Solutions Inc 1328 N Pine St B, Florence, AL 35630 +1 (256) 718 - 1640
Title Cash 1305 Hearn Ave, Bessemer, AL 35020
Check Into Cash 519 West Avalon Avenue, Suite 14-C, Muscle Shoals, AL 35661
Fast Cash 920 Winchester Rd NE, Huntsville, AL 35811 +1 (256) 746 - 9955
Credit Central 1612 2nd Ave SW, Cullman, AL 35055 +1 (256) 775 - 7382
1st Franklin Financial 704 E Battle St Suite E, Talladega, AL 35160 +1 (256) 362 - 3600

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Townley, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mountain Brook, AL, Payday Loans in Northport, AL, 24-Hour Loan in Opelika, AL, Payday Loan for Oxford, AL, Payday Loan for Pelham, AL, Payday Loans in Pell City, AL, Payday Loans in Phenix City, AL and Payday Loans in Prattville, 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 Townley, AL.

Are Payday Loans Legal In Townley, 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

Townley, AL payday loan calculator

The Ins and Outs of Payday Loans in Townley, Alabama

Payday loans are a relatively new form of short-term loans that have quickly become popular among Americans facing financial emergencies. These loans typically have high-interest rates and are usually due on the borrower’s next payday. In Townley, Alabama, payday loans are legal, and many people turn to them to cover unexpected expenses or bills.

How to Get a Payday Loan in Townley, Alabama

In Townley, Alabama, payday loans are typically easy to access. The application process is straightforward, and you can complete it online or at a store. To qualify, you must be at least 18 years old and have a government-issued ID, a steady source of income, and a checking account. The lender will also require you to write a postdated check or sign an ACH authorization that gives them permission to withdraw the loan amount plus fees from your bank account on the due date.

If you’re approved for a payday loan in Townley, Alabama, the lender will usually deposit the funds into your bank account within one business day. The loan amount will typically be between $100 and $500, but it can be higher depending on your income level and the lender’s policies.

The Risks of Payday Loans

While payday loans may seem like a quick and easy solution to your financial woes, they do come with significant risks. First and foremost, payday loans have incredibly high-interest rates, often ranging from 300% to 500%. This means that if you borrow $300, you could end up owing $450 or even $600 when you factor in fees and interest.

Additionally, if you’re unable to repay your loan on the due date, the lender may charge you additional fees and interest, making it even harder to pay back the loan. In some cases, borrowers have to take out additional payday loans to cover the original loan, leading to a cycle of debt that can be extremely difficult to break free from.

Alternatives to Payday Loans

If you’re considering taking out a payday loan in Townley, Alabama, it’s important to explore all of your options first. Here are some alternatives to consider:

  • Credit counseling: If you’re struggling with debt, credit counseling can help you create a budget and develop a plan to pay off your debt.
  • Personal loans: Personal loans may be a better option if you need to borrow a larger amount of money. They typically have lower interest rates than payday loans, which can save you money in the long run.
  • Borrowing from family or friends: While it may be difficult to ask for help, borrowing from family or friends may be a better option than taking out a payday loan.

Interesting Facts and Statistics about Payday Loans in Townley, Alabama

Here are some interesting facts and statistics about payday loans in Townley, Alabama:

  • According to a report by the Center for Responsible Lending, the average payday loan borrower in Alabama takes out 8 payday loans per year, with an average loan amount of $322.
  • The average annual percentage rate (APR) for payday loans in Alabama is 456%, which is one of the highest rates in the country.
  • In 2019, Alabama lawmakers passed a bill that would have capped the interest rate on payday loans at 36%, but the bill ultimately failed to pass.

Apply Now

If you’re facing a financial emergency in Townley, Alabama, and you’ve decided that a payday loan is your best option, TheGuaranteedLoans can help. We are a connector service that can help you find potential lenders who may be able to offer you a payday loan. Our online application process is quick and easy, and we’ll work hard to help you find a lender that meets your needs.

Remember, payday loans should be used as a last resort, and you should only borrow what you can repay. If you’re struggling with debt in Townley, Alabama, or anywhere else, reach out to a credit counselor or financial advisor who can help you create a plan to get back on track.

F.A.Q.

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

Yes, there is a limit on the amount of fees and interest that a payday lender can charge in Townley, 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 Townley, Alabama?

Yes, a payday lender can garnish your wages if you default on your loan in Townley, 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.