Payday Loans in Olathe, Kansas
An OppLoans Guide to Getting The Help You Need
Olathe may be a great place to live and an even better place to raise a family, but that doesn’t mean that everyone in the area is able to make it on their own. There are plenty of people who lack the financial and social support systems that many others take for granted. They have low incomes, poor credit histories and small-to-nonexistent savings that mean any kind of emergency or unexpected expense threatens to undo them completely. Many times they’ll end up taking out a loan from a predatory mortgage lender to cover their expenses, which ends up putting them in a worse situation than where they started. Luckily, there are also many places in Olathe where people who need some additional help can find it. In addition to lenders that can offer a better, more reliable personal loan, there are churches, not-for-profits, government programs and local charities that can give them the help they need.
Borrowing Money in Olathe
Sometimes, all a situation requires is a quick infusion of cash to get the bills paid. But for people with low incomes and poor credit histories, that cash can be hard to come by. Oftentimes they’ll end up taking out a loan from a predatory lender, a loan that comes with high-interest rates and short repayment terms that leaves them even more hard-up than they were when they got the loan in the first place. Here are some resources about different kinds of loans available in the Olathe-area. Some of them are predatory, while others will put you on the road to a better financial future.
Payday Loans in Olathe
High interest rates and short terms make these loans a bad idea.
A payday loan might seem like a great way to get some quick cash to cover emergency expenses. But in reality they are a dangerous and predatory loan, one that comes with high-interest rates and short repayment terms that could leave you wishing you’d never bothered with it in the first place.
Payday loans are usually so easy to secure because the lender makes them regardless of whether or not the person can repay. All the borrower needs to do is write a check to the lender for the amount owed and post-date it to their next payday. It sounds pretty simple—and it is—but it’s the interest rates and the payment terms that make payday loans so risky.
In Kansas, a payday loan has a minimum seven-day term and a maximum of 31 days. Lenders are allowed to charge an interest rate of 15% and can lend up to $500. That adds up to an annual percentage rate (APR) of 390% which is way higher than most other kinds of personal loans. And because the terms on these loans are so short, borrowers can have a hard time coming up with the funds to pay the loan off—after all, they were running short of funds in the first place.
Failing to pay back a payday loan could land you in court where your wages could be garnished in order to pay the loan back. There are better ways to get a loan in Olathe, ones that won’t be so burdensome to repay. If you would like to file a complaint against a payday lender in Olathe, or would like more information, please contact the Office of the State Bank Commissioner of Kansas at (785) 296-2266 or the Consumer Financial Protection Bureau at (855) 411-2372.
Personal Installment Loans in Olathe
Low, fixed monthly payments that fit within your budget.
When you need quick cash to cover unexpected expenses, skip the payday, title and pawnshop lenders. Instead, you should get a loan that is safe, reliable and easy to repay. Namely, you should get a personal installment loan. Our loans vary from $1,000 to $10,000 and they come with terms between 6 and 36 months. Put that together with interest rates that are general 70-125% less than other personal lenders, and you have a loan with a series of easy, fixed monthly payments that will within even the tightest budget.
OppLoans always strives to deliver fast, flexible, fair and five-star service:
- Fast: Apply online and find out if you’re approved in minutes. Once approved you can get your cash as early as the next business day.
- Flexible: We offer longer terms, larger loans, and affordable, fixed payments. Your monthly payment will be the same throughout the life of the loan.
- Five-Star: Customers rate us 4.9 out of 5 stars for our friendly service. We also provide discounts for credit education.
To apply for personal installment loan from OppLoans and start building a better credit history today, just fill out this easy online application. If you’re approved, you can have your money as early as the next business day. To learn more, or to apply for a loan today, visit our website: www.opploans.com.
Guides to Payday Loans in Kansas Cities
- “Kansas.” “Kansas.” Payday Loan Consumer Information. Consumer Federation of America. Accessed March 9, 2016. https://www.paydayloaninfo.org/state-information/24
- Car-Title Loan Regulation.” Consumer Federation of America. Accessed March 8, 2016. https://www.consumerfed.org/pdfs/Resources.CTL.StateLawTermChart12.2.12.pdf
- “Car Title Lending.” Center for Responsible Lending. ResponsibleLending.org. Accessed March 9, 2016. https://www.responsiblelending.org/state-of-lending/reports/7-Car-Title-Loans.pdf
- “2012 Statute: Article 7 – Re-Regulation of Pawnbrokers and Precious Metal Dealers.” Kansas Legislature. Accessed March 9, 2016. https://kslegislature.org/li_2012/b2011_12/statute/016_000_0000_chapter/016_007_0000_article/016_007_0019_section/016_007_0019_k/
*OppLoans is not affiliated with any of the programs, services or organizations referenced on this page.