Payday Loans in Chloride, Arizona

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No payday loan companies in Chloride, AZ. Consider companies in other cities:

Company nameAddressZip codePhone number
GreenBack Title Loans 3002 N Arizona Ave, Chandler, AZ 85225 +1 (480) 926 - 6666
First American Credit Union 1 Main Rd Building Suite 113, Sells, AZ 85634 +1 (520) 836 - 8848
Fast Auto Loans, Inc. 3030 W Valencia Rd, Tucson, AZ 85746 +1 (520) 883 - 6448
Loanmax Title Loans 2009 W Main St, Mesa, AZ 85202 +1 (480) 844 - 0122
Maximum Title Loans 9261 East Vía de Ventura, Scottsdale, AZ 85258 +1 (480) 434 - 6596
Chase Bank 5697 E State Rte 69, Prescott Valley, AZ 86314 +1 (928) 445 - 5691
Jackson Hewitt Tax Service 4461 S White Mountain Rd Ste D6, Show Low, AZ 85901 +1 (928) 532 - 0247
Ameriprise Financial Services, Inc. 400 W Fry Blvd, Sierra Vista, AZ 85635 +1 (800) 297 - 4575
Bank of the West 351 Main St, Superior, AZ 85173 +1 (520) 689 - 2431
Pioneer Title Agency 812 E Ash St, Globe, AZ 85502 +1 (928) 425 - 7110

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Chloride, AZ, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Apache Junction, AZ, Payday Loans in Avondale, AZ, Payday Loans in Buckeye, AZ, Emergency Loan in Bullhead City, AZ, Payday Loans in Casa Grande, AZ, Payday Loans in Chandler, AZ, Payday Loan for El Mirage, AZ and Online Loans in Flagstaff, AZ. 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 Chloride, AZ.

Beautiful sights of Chloride, AZ

Payday Loans Available in Chloride, AZ By The Following ZIP Codes:

86431

Are Payday Loans Legal In Chloride, Arizona?

Payday Lending is Prohibited in Arizona

Arizona Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Chloride, AZ payday loan calculator

Understanding Payday Loans in Chloride, Arizona

Payday loans are a type of short-term loan that can be a quick source of cash for those with emergency expenses. However, in the state of Arizona, payday loans are prohibited by law. This means that residents of Chloride, Arizona, and surrounding areas cannot obtain a payday loan.

What is a Payday Loan?

A payday loan is a type of short-term loan that is typically due on the borrower’s next payday. These loans usually range from $100-$500 and can carry high-interest rates that make them costly for the borrower. The borrower is required to provide proof of employment or other income sources as well as a post-dated check or authorization for an electronic debit from their bank account for the loan amount and fees.

In Chloride, Arizona, however, these loans are prohibited by law. The average interest rate for a payday loan in the United States is 400%, but in Arizona, the maximum annual interest rate for any loan is 36%, making payday loans illegal in the state.

Why are Payday Loans Prohibited in Arizona?

Arizona voters overwhelmingly passed Proposition 200 in 2008, which banned payday loans as a result of their exorbitant interest rates. The proposition also placed new restrictions on car title loans.

These loans were widely criticized for trapping borrowers in a cycle of debt, where high-interest rates made it difficult to pay back the loan and meet other financial obligations. By prohibiting payday loans in Arizona, the state aims to protect consumers from predatory lending practices.

Alternatives to Payday Loans

Although payday loans are prohibited in Arizona, residents do have access to other types of short-term loans. Some alternatives include:

  • Credit Union Loans: Credit unions typically offer short-term loans at lower interest rates compared to payday loans.
  • Personal Loans: Personal loans from banks or online lenders can provide cash for emergencies, with more manageable repayment terms and lower interest rates than payday loans.
  • Credit Card Cash Advance: Depending on your credit limit, a cash advance from a credit card can be a cheaper alternative to a payday loan.
  • Alternative Financial Services: Some cities have community development financial institutions (CDFIs) and other non-profit organizations that offer loans with more affordable terms.

Facts and Statistics about Payday Loans (Not related to Chloride, Arizona)

  • 12 million Americans take out payday loans each year.
  • The average payday loan borrower takes out eight loans per year, with an average total loan amount of $3,000.
  • Payday lending is a $40 billion industry in the United States.
  • The average payday loan interest rate is 400%.
  • Payday lenders are more likely to set up shop in low-income communities.

Apply Now

At TheGuaranteedLoans, we understand that unexpected expenses can cause financial stress. Although payday loans are prohibited in Chloride, Arizona, we offer other types of loans that can provide a quick solution. We are a connector service that can facilitate your connection with potential lenders. Fill out an online application today, and you could have the cash you need in as little as one business day.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Chloride, Arizona?

It is illegal for lenders to offer payday loans in Chloride, Arizona, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Chloride, Arizona?

If you have already taken out a payday loan in Chloride, Arizona, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.