Payday Loans in Yarnell, Arizona

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

Company nameAddressZip codePhone number
Fast Auto Loans, Inc. 104 W Florence Blvd, Casa Grande, AZ 85122 +1 (520) 836 - 1155
Presto Auto Title Loans Prescott Valley 3264 N Glassford Hill Rd suite d, Prescott Valley, AZ 86314 +1 (928) 772 - 3548
Sundance Cove Title Loans 1017 S 221st Dr, Buckeye, AZ 85326 +1 (602) 600 - 6154
Loanmax Title Loans 820 E Rte 66, Flagstaff, AZ 86001 +1 (928) 779 - 6359
BIG D'S PAWN & LOAN 2124 AZ-95, Bullhead City, AZ 86442 +1 (928) 704 - 1110
Food Distribution Center - Catholic Community Services In Southeastern Arizona 19 Howell Ave, Bisbee, AZ 85603 +1 (520) 432 - 2285
Checkmate 29 N Val Vista Dr #101, Gilbert, AZ 85234 +1 (480) 288 - 6885
Washington Federal Bank 1301 E Deuce of Clubs, Show Low, AZ 85901 +1 (928) 537 - 7425
FlexWage Solutions, LLC 7633 E Acoma Dr 100, Scottsdale, AZ 85260 +1 (888) 754 - 8866
Easy Money Pawn 7707 MC 85 STE 101, Buckeye, AZ 85326 +1 (623) 386 - 2453

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Yarnell, AZ, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Gilbert, AZ, Payday Loans in Glendale, AZ, Payday Loans in Goodyear, AZ, Payday Loans in Lake Havasu City, AZ, Payday Loans in Marana, AZ, Payday Loans in Maricopa, AZ, Guaranteed Loans in Mesa, AZ and Payday Loans in Peoria, 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 Yarnell, AZ.

Beautiful sights of Yarnell, AZ

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

85362

Are Payday Loans Legal In Yarnell, 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

Yarnell, AZ payday loan calculator

Payday Loans in Yarnell, Arizona: Know the Law

When you need quick cash, Payday loans may seem like an enticing option. However, it’s important to know the legalities surrounding payday loans as each state has its own laws. If you’re in Yarnell, Arizona, it’s crucial to understand that payday loans are prohibited in your state, meaning that lenders are not allowed to offer payday loans to individuals residing in Arizona as per Arizona Revised Statutes 6-632.

What are Payday Loans?

Payday loans are short-term loans that typically range from $100 to $500 and come with high interest rates and fees. They’re marketed as a quick-fix solution for unexpected expenses. Instead of focusing on a borrower’s credit history and ability to repay the loan, payday lenders often require proof of income and access to the borrower’s bank account. This allows the lender to automatically withdraw the loan amount plus interest and fees on the borrower’s next payday, hence the name “payday loan.”

Prohibited in Arizona

Arizona is one of the states that have outlawed payday loans, along with Arkansas, Georgia, North Carolina, West Virginia, New York, Vermont, and Connecticut. In Arizona, payday lending is illegal under Arizona Revised Statutes 6-632. This law specifically prohibits lenders from offering payday loans or any similar term loans with a duration of fewer than six months. Furthermore, lenders who offer loans in violation of this law can be penalized with fines, lawsuits, and even imprisonment.

The Consequences of Payday Loans

Payday loans are often associated with predatory lending due to the high interest rates and fees that make it difficult for borrowers to pay back the loan. In many cases, borrowers end up rolling over their loan, incurring additional fees and interest, and get stuck in a cycle of debt. Payday loans can also impact a borrower’s credit score and credit history, further hindering financial stability and opportunities for future credit products.

It’s easy to see why payday loans are illegal in Arizona and other states. Lawmakers and financial experts recognize the negative impact predatory lending can have on vulnerable consumers. They aim to protect consumers from getting trapped in high-cost debt cycles that can lead to financial ruin.

Interesting Facts about Payday Loans

  • In Arizona, payday lenders attempted to overturn the ban on payday loans in 2008 but failed.
  • Payday loans are also banned in the District of Columbia, Puerto Rico, and the Virgin Islands.
  • The Consumer Financial Protection Bureau (CFPB) proposed payday lending regulations in 2016 to limit the number of loans borrowers could take out and assess their ability to repay the loan. However, the rules were never implemented due to changes in the White House administration.

Apply Now

Although payday loans are illegal in Yarnell, Arizona, there are alternative loan options available. These include personal loans, auto title loans, and installment loans. TheGuaranteedLoans is a lending connector service that helps connect borrowers to potential lenders who can offer these alternative lending options.

As a connector service, TheGuaranteedLoans is not a direct lender and does not make lending decisions. Instead, we partner with a network of lenders who can potentially offer loans to borrowers based on their financial profile and creditworthiness. To get started, use our loan application form on our website to fill out your information and we’ll work to match you with a lender who can potentially offer you a loan.

Remember to only borrow what you can afford to pay back and to read the terms and conditions carefully before accepting any loan offer. Be wary of lenders who offer high-cost loans with hidden fees and interest rates. Protect yourself by working with reputable and transparent lenders who value your financial wellbeing.

Conclusion

Payday loans might seem like a quick and easy solution, but they come with high risks and potential harm to your finances. It’s crucial to understand that payday loans are illegal in Arizona and other states. Instead of resorting to illegal payday loans, explore alternative lending options such as personal loans, auto title loans, and installment loans. Remember to work with reputable lenders and protect yourself by reading the terms and conditions before accepting any loan offer.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Yarnell, Arizona?

No, because payday loans are illegal in Yarnell, Arizona, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Yarnell, Arizona?

Yes, the state of Arizona has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.