Payday Loans in Vredenburgh, Alabama

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

Company nameAddressZip codePhone number
Check 'n Go 2101 Woodward Ave, Muscle Shoals, AL 35661
Regional Finance 587 Highway 31 NW, Suite A, Hartselle, AL 35640 +1 (256) 773 - 7178
Get It to Go 8448 Crossland Loop, Montgomery, AL 36117 +1 (334) 356 - 5513
World Finance 481 Military St S, Hamilton, AL 35570
1 Stop Cash for Gold 2614 Citizens Pkwy e, Selma, AL 36701
Credit Central 607 Gault Ave N D, Fort Payne, AL 35967 +1 (256) 845 - 4784
BancorpSouth Bank 420 N Brindlee Mountain Pkwy, Arab, AL 35016 +1 (256) 931 - 2300
Title Cash 1330 Spring Hill Ave suite e, Mobile, AL 36604 +1 (251) 432 - 8472
Sensible Loans 516 Jordan Ln NW, Huntsville, AL 35805 +1 (256) 536 - 0622
1st Franklin Financial 102 Micah Way Suite 1101, Scottsboro, AL 35769

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Vredenburgh, AL, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Cullman, AL, Payday Loans in Daphne, AL, Payday Loans in Decatur, AL, Quick Loan in Dothan, AL, Payday Loans in Enterprise, AL, Quick Loan in Eufaula, AL, Payday Loans in Florence, AL and Payday Loans in Foley, 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 Vredenburgh, AL.

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

36481

Are Payday Loans Legal In Vredenburgh, 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

Vredenburgh, AL payday loan calculator

Advise to read before applying

Understanding Payday Loans in Vredenburgh, Alabama

When financial emergencies arise, and you are short on cash, there are several options you can explore, Payday loans being one of them. In Vredenburgh, Alabama, payday loans are a legal financial instrument that allows you to access quick cash and repay it when you receive your next paycheck. However, before taking out a payday loan in Vredenburgh, there are vital facts that you must understand to make an informed decision.

How do Payday Loans Work in Vredenburgh, Alabama?

In Alabama, payday lenders can operate in the form of stores or online platforms. When you apply for a payday loan, you are required to provide a postdated check for the exact amount of the loan plus interest and fees. At the end of the loan term, usually the next payday, the lender will cash in the check to receive their payment.

Alternatively, some payday loan lenders in Vredenburgh, Alabama may offer automatic repayment by debiting the amount directly from your bank account. Therefore, it’s essential to understand the repayment terms offered by your specific lender before you submit your application.

Who is Eligible for Payday Loans in Vredenburgh, Alabama?

To qualify for a payday loan in Vredenburgh, Alabama, you should:

  • Be at least 18 years of age
  • Have a reliable source of income, such as a job
  • Be a citizen or permanent resident of the United States
  • Have a valid government-issued identification document
  • Have an active bank account

Depending on the lender, these requirements may vary; it’s best to contact your lender for specific eligibility criteria before applying.

What are the Fees and Interest Rates of Payday Loans in Vredenburgh, Alabama?

Just like any other state in the US, payday lending in Alabama is regulated by Alabama Code § 5-18A-1 et seq. The code limits the maximum amount you can borrow to $500, with a loan term of ten to thirty-one days. The interest rate cap for payday loans in Alabama is 461% annually. This translates to a finance charge of $17.50 for every $100 borrowed.

Moreover, Alabama lays out more regulations for payday lending. For example, the code prohibits rollovers, renewals, or extensions. This means that you must repay the loan in full before taking out a new one.

Advantages and Disadvantages of Payday Loans in Vredenburgh, Alabama

Payday loans can be a quick solution when you’re in a tough financial position, but they are not without drawbacks. Below are the pros and cons of payday loans in Vredenburgh, Alabama:

Advantages

  • Quick approval process
  • Access to cash when you need it most
  • No credit checks required
  • Easy application process
  • Can help improve your credit score if you repay on time

Disadvantages

  • High-interest rates and fees
  • Short repayment term can lead to the cycle of debt
  • Can impact your credit score negatively if you don’t repay on time
  • Lenders may resort to aggressive collection tactics

Interesting Facts and Statistics about Payday Loans in Vredenburgh, Alabama

  • In 2019, it was reported that Alabama has something of a payday-loan addiction. With over 1,000 licensed payday and title lenders operating within the state, an average of 3.6 payday lenders per 10,000 residents.
  • The amount borrowed in Alabama from payday lenders in 2018 was more than $1.6 billion with loan fees of $326 million. The average APR was 167.07% with 2.1 million payday loans being taken out in 2018.

Apply Now

Although payday loans come with their fair share of drawbacks, they remain a viable option when you need quick cash. If you meet the eligibility criteria and have evaluated the terms of your loan, you can apply for a payday loan in Vredenburgh, Alabama by filling out our online application form. At TheGuaranteedLoans, we are a financial connecting service, not a direct lender. We aim to connect our clients with lenders who can help them obtain the financing they need. Apply now and enjoy a hassle-free experience connecting with potential lenders.

Remember, payday loans should only be considered as a last resort, and you should only borrow what you can afford to pay back on your next paycheck.

F.A.Q.

What is the interest rate on a payday loan in Vredenburgh, Alabama?

The interest rate on a payday loan in Vredenburgh, Alabama is capped at 17.5% per month, which is equivalent to an annual percentage rate (APR) of 210%.

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

in Vredenburgh, Alabama, the minimum repayment period for a payday loan is 10 days, and the maximum repayment period is 31 days.

Look for Short-Term Loans in Other Cities:

Alabaster Anniston Atmore Auburn Birmingham Decatur Dothan Florence Foley Gadsden Hoover Huntsville Madison Mobile Montgomery Opelika Phenix City Prattville Tuscaloosa Vestavia Hills
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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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