By Shawn Martin
the Kentucky state payday loan laws are like many other states that allow payday loans.
The state has been trying yo eliminate payday loans altogether but so far they are alive and thriving.
There are 707 payday loan companies in Kentucky last count. let’s take a look at some of the laws they must follow.
You may take out a payday loan in Kentucky for up to 60 days. About twice as long as most states. The loan limit is $500.00 and the interest rate is $15.00 per $100.00 borrowed plus administrative fees.
One big red flag with the Kentucky payday laws is you may take out more than one loan at a time. This leads to a financial disaster if you end up getting over your head.
The only way a person should use these loans is to take out one at a time and pay the loan up in full the first time it becomes due. Retire it and move on, and avoid the payday loan trap.
We can help!
If you find yourself in trouble with payday loan debt in Kentucky or any other state we can help!
please check out our Payday loan repayment Plan or call us at 1-877-280-5100 for a free quote and more information on how we can help get you back on track!
Remember, payday loan debt can grow like a weed if you do not stay on top of your loans and manage them correctly.
We can help you if you are in trouble, and show you how to avoid payday loan debt in the future!