What are Kansas City Payday Loans?
Many Americans may experience financial hardship and turn to temporary financial assistance. Consumers in need of money sometimes turn to payday loans. A payday loan is a brief, high-interest loan given to debtors who require funds until their next payment.
How do Kansas City payday loans work?
Payday loans in Kansas City, MO are short-term loans with high finance charges, frequently for amounts of $500 or less. Payday loans give applicants the option of borrowing against a future salary or other expected income. Although they may be advertised as “one-time-only” loans meant to help borrowers survive until their next paycheck, some borrowers of payday loans find themselves stuck in a cycle of debt as they take out successive loans, each with higher and higher finance charges that eventually exceed the amount borrowed. Therefore, every borrower needs to make his payday loan payments in full and on time in order to escape financial traps.
Do I qualify for a payday loan from Kansas City lender?
It varies. If any of the following apply to you, you are ineligible under state law in Kansas City, MO:
- You presently have one or more payday loans with a total balance of at least $700, or 30% of your gross monthly income.
- You currently have a payment schedule in place to repay a prior payday loan.
- In the previous twelve months, you have obtained eight loans.
- Another payday loan that you have is in default.
In order to qualify for a payday loan in Kansas City, MO you just need to provide a little personal information, such your name, address, and social security number, as well as the amount you want to borrow. Once you have given the necessary information, payday loan providers in Kansas City, MO will get in touch with you to confirm the contract’s terms and conditions.
When dealing with emergencies, a little cash advance can be an advantageous and useful tool. But keep in mind that these loans won’t be able to solve major financial issues. It’s not a good idea to obtain too many loans from a small number of businesses at once since you run the danger of compromising your financial security.
Kansas City Payday Loan Laws and Regulations
The laws governing payday loans in Missouri are among the laxest in the nation when it comes to payday loan lenders. It’s one of the only states where payday lenders don’t charge the maximum amount permitted by law since the market couldn’t support it.
Payday lenders are permitted to provide accounts up to $500 in Kansas City, MO. Although there isn’t a set minimum, in reality lenders frequently issue accounts for as little as $50 or $100.
A statute of limitations on debt is a legal provision that limits the amount of time a creditor or debt collector has to file a lawsuit against a borrower to recoup funds for a past-due account. For the many kinds of credit accounts, each state has its own regulations. Contracts for payday loans are in writing. In Kansas City, MO creditors have ten years to file a lawsuit.
Kansas City Payday Loan Alternatives
Before obtaining a payday loan, borrowers should weigh all of their options. Consider whether you actually need the money right away. You may be able to save money if you can wait until the next pay period. Consider contacting the firm to see if you can pay the bill late or come to an agreement on a payment schedule before taking out a payday loan to settle a debt to another business.
If used frequently, getting a payday loan might become a costly alternative. When compared to an installment loan, the interest and fees can be significantly higher. You have an alternative lender who is concerned about you and your financial position. With reasonable fees and interest rates, you can get the emergency cash you need and return the loan over a predetermined period, nine months is typical.
There are several payday loan alternatives that merit consideration:
Before looking for an alternative to a payday loan, you should obtain your free credit score and free credit report to understand where your credit stands. This will enable you to focus your search and increase the likelihood that your application will be accepted.
Best Payday Loans companies in Kansas City, MO
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Advance America
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7114 NW Prairie View Rd
(816) 505-2136
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7932 N Oak Trfy Ste 204
(816) 436-9182
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3907 Main St
(816) 931-0075
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8666 E 63rd St
(816) 313-6318
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6439 N Prospect Ave
(816) 436-2877
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4343 N Chouteau Trfy
(816) 455-0444
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606 E 99th St
(816) 943-6565
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7114 NW Prairie View Rd
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American Cash Advance
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6273 N Oak Trfy
(816) 455-5013
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8638 E 63rd St
(816) 353-9003
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7927 Wornall Rd
(816) 444-9434
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6273 N Oak Trfy
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AmeriCash Loans
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3375 Main St
(816) 960-7149
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3375 Main St
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Bos Discount Bail Bonds
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11105 Hickman Mills Dr
(816) 765-0101
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11105 Hickman Mills Dr
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Cash America
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7015 N Oak Trfy
(816) 436-5518
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7015 N Oak Trfy
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Cash America Pawn
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8241 Wornall Rd
(816) 361-1800
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8241 Wornall Rd
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Cash America Pawn - Pawn Shops & Loans
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3101 Prospect Ave
(816) 921-7296
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11148 Blue Ridge Blvd
(816) 761-0203
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3636 Main St
(816) 531-4143
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7015 N Oak Trfy
(816) 436-5518
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3101 Prospect Ave
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Cashland
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7015 N Oak Trfy
(816) 468-4354
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7015 N Oak Trfy
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Check Cashing
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2600 Independence Ave
(816) 241-7200
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2600 Independence Ave
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Check Into Cash
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10121 Blue Ridge Blvd
(816) 763-7700
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5720 NE Antioch Rd
(816) 454-2590
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10121 Blue Ridge Blvd
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CheckSmart Financial
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6501 Troost Ave
(816) 926-9977
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6501 Troost Ave
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Concord Finance
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1331 E 63rd St
(816) 822-2242
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1331 E 63rd St
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First Cash
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6301 Troost Ave
(816) 237-1952
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6301 Troost Ave
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First Cash Advance
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1331 E 63rd St
(816) 363-2274
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2600 Independence Ave
(816) 241-7200
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1331 E 63rd St
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Gladstone Car Title Loans
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3000 NE Brooktree Ln
(816) 559-3914
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3000 NE Brooktree Ln
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King Of Kash
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11112 Blue Ridge Blvd
(816) 763-7777
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11112 Blue Ridge Blvd
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LendNation
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5358 Independence Ave
(816) 231-2400
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600 E Linwood Blvd
(816) 531-2030
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7017 N Oak Trfy
(816) 436-7575
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5358 Independence Ave
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Midwest Title Loans
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11498 Blue Ridge Blvd
(816) 763-1000
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330 W 85th St
(816) 363-8600
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6420 N Oak Trfy
(816) 436-7711
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11498 Blue Ridge Blvd
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Missouri advance Title Loans
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7443 Troost Ave
(816) 926-0724
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7443 Troost Ave
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Missouri Title Loans
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2526 NE Vivion Rd
(816) 452-7549
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2526 NE Vivion Rd
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Missouri Title Loans Inc.
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5221 Independence Ave
(816) 231-7010
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3731 Main St
(816) 839-4653
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5058 NE Antioch Rd
(913) 766-2034
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5221 Independence Ave
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No Faster Payday Loan
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3600 Broadway Blvd
(833) 624-8214
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3600 Broadway Blvd
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One Pawn and Check Cashing
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400 E Linwood Blvd
(816) 753-1166
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400 E Linwood Blvd
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Payday Loans Online Made Easy
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1100 Walnut St
(833) 624-8214
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1100 Walnut St
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PDQ Payday Loans
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5800 E Truman Rd
(816) 483-1810
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5800 E Truman Rd
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Quik Cash
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1716 Central St
(913) 371-3000
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10925 NW Highway 45
(816) 737-1818
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4701 Troost Ave
(816) 753-1509
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1716 Central St
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Speedy Cash
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3947 Main St
(816) 895-7980
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1331 E 63rd St
(816) 287-1303
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3947 Main St
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Star Loans
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11132 Blue Ridge Blvd
(816) 763-8570
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323 W 79th Ter
(816) 444-9434
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2522 NE Vivion Rd
(816) 453-6900
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11132 Blue Ridge Blvd
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Tinys Quik Cash
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7315 N Oak Trfy
(816) 436-0950
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7315 N Oak Trfy
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Waldo Financial Service Center
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8437 Wornall Rd
(816) 333-6800
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8437 Wornall Rd
Summary
Even people with a stable source of income who receive their paychecks on time sometimes may run into an emergency when they require cash immediately and without hesitation. Payday loans in Kansas City, MO can be obtained as soon as possible with the quick and simple forms offered by payday loan providers.
However, payday loans are not the best way out for every financial situation. Consider payday loan alternatives, in order to find a financial solution that will best suit your personal financial demands.