Payday Loans in Watson, Alabama

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

Company nameAddressZip codePhone number
Peoples Bank of Alabama 801 2nd Ave SW, Cullman, AL 35055 +1 (877) 788 - 0288
Tower Loan 714 Hwy 78, Jasper, AL 35501 +1 (205) 385 - 7799
Alabama Title Loans, Inc. 1020 Montgomery Hwy, Dothan, AL 36303
World Finance 33201 Hwy 43, Thomasville, AL 36784 +1 (334) 636 - 4626
Rice Banking Co 1617 2nd Ave, Opelika, AL 36801 +1 (334) 745 - 3494
Local Cash Advance of Al 211 Claxton Ave, Elba, AL 36323
Pay Day USA 19095 S 3rd St B, Citronelle, AL 36522 +1 (251) 866 - 0578
Check 'n Go N, 431 Highway f, Phenix City, AL 36867 +1 (334) 480 - 9060
Jeanine Adkins Southtown Mortgage 1810 3rd Ave STE 104, Jasper, AL 35501 +1 (205) 522 - 7027
Check Advance 4155 AL-14, Millbrook, AL 36054

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Watson, 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, Payday Loans in Opelika, AL, Payday Loans in Oxford, AL, Bad Credit Loans in Pelham, AL, Payday Loans in Pell City, AL, Payday Loan for 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 Watson, AL.

Are Payday Loans Legal In Watson, 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

Watson, AL payday loan calculator

What Are Payday Loans?

Payday loans are a type of short-term loan that is designed to bridge the gap between paychecks. These loans are typically for small amounts, and they come with a short repayment period. The borrower typically writes a post-dated check for the loan amount plus any fees and interest. The lender then gives the borrower the cash they need. When the loan is due, the lender cashes the borrower’s post-dated check to repay the loan.

Payday Loans in Watson, Alabama

Payday loans are legal in Alabama, and you can find them in several cities, including Watson. If you need a quick loan to cover an unexpected expense, a payday loan can be a good option. However, it’s essential to remember that payday loans come with high interest rates and fees, and they can trap you in a cycle of debt if you’re not careful.

The Pros of Payday Loans

  • Easy to apply: Payday loans have fewer requirements than traditional loans. All you need is proof of income, a valid ID, and a checking account to apply.
  • Fast approval: Payday loans typically have a fast application process, and you can get your loan in as little as 24 hours.
  • No credit check: Unlike traditional loans, payday lenders don’t require a credit check. That makes payday loans a good option for people with bad credit or no credit.

The Cons of Payday Loans

  • High interest rates and fees: Payday loans come with high interest rates and fees that can make the loan more expensive than you initially thought.
  • Short repayment period: Payday loans have a short repayment period, and you must repay the loan in full, plus fees and interest, when your next paycheck arrives.
  • Risk of debt cycle: If you can’t repay the loan in full, you will have to roll over the loan, which means you’ll pay additional fees and interest. This can lead to a debt cycle that’s tough to break.

Facts and Statistics About Payday Loans in Watson, Alabama

  • In Alabama, payday loans are legal, and you can borrow up to $500 per loan.
  • The maximum loan term for payday loans in Alabama is 31 days.
  • The maximum finance charge for a payday loan in Alabama is 17.5% of the loan amount.
  • The average payday loan in Alabama is $350, and borrowers typically roll over their loans six times before paying them off.
  • In the first half of 2021, 94,000 Alabamians took out more than 1.6 million payday loans, totaling $563 million in loans.

Apply Now

If you need a payday loan in Watson, Alabama, TheGuaranteedLoans can help you find a lender. We are a connector service that connects borrowers with potential lenders. Fill out our online application, and we’ll match you with a lender that might be able to offer you a loan. Remember, payday loans are a short-term solution, and they come with high interest rates and fees. Make sure you can repay the loan in full before you borrow.

F.A.Q.

Can I renew or extend my payday loan in Watson, Alabama?

Some lenders may allow borrowers to renew or extend their payday loans in Watson, Alabama, but this option is not available in all cases. It is important to carefully read the terms of your loan agreement before deciding whether to renew or extend your loan.

What are payday loans in Watson, Alabama?

Payday loans in Watson, Alabama are short-term loans that are designed to provide borrowers with quick access to cash to cover unexpected expenses or urgent financial needs. These loans typically range from $100 to $500 and are due on the borrower's next payday, hence the name.