Payday Loans in Charlotte, Arkansas

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No payday loan companies in Charlotte, AR. Consider companies in other cities:

Company nameAddressZip codePhone number
Poinsett Motors, LLC 100 B Highway 63 W, Marked Tree, AR 72365 +1 (870) 358 - 2886
Regions Bank 1702 N Reynolds Rd, Bryant, AR 72022 +1 (800) 734 - 4667
Waco Title Company 109 Court Street, Huntsville, AR 72740 +1 (479) 738 - 2210
Hurricane Creek Federal CU 1114 Ferguson Dr, Benton, AR 72015 +1 (501) 315 - 3162
Arvest Bank 709 W Fleeman St, Manila, AR 72442 +1 (870) 561 - 1121
Arkansas Federal Credit Union 1000 S Main St, Searcy, AR 72143 +1 (501) 982 - 1000
Success Credit Union - Blytheville 211 N Broadway St, Blytheville, AR 72315 +1 (870) 763 - 1111
Anstaff Bank 150 West End Way, Mountain Home, AR 72653 +1 (870) 424 - 8522
Benefit Bank 9201 Old Hwy 71 S, Fort Smith, AR 72916
Community National Bank 934 W 2nd St, Waldron, AR 72958 +1 (479) 637 - 3470

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Charlotte, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Conway, AR, No Credit Check Loans in Fayetteville, AR, Payday Loans in Fort Smith, AR, Payday Loans in Jonesboro, AR, Payday Loans in Little Rock, AR, No Credit Check Loans in North Little Rock, AR, Bad Credit Loans in Pine Bluff, AR and Payday Loan Companies in Rogers, AR. 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 Charlotte, AR.

Are Payday Loans Legal In Charlotte, Arkansas?

Payday Lending is Prohibited in Arkansas

Arkansas Loan Regulations

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

Charlotte, AR payday loan calculator

Understanding Payday Loans in Charlotte, Arkansas

Payday loans are short-term, high-interest loans designed to be paid back within a few weeks or the borrower’s next payday. They are often marketed as a quick fix for unexpected expenses or emergencies, but in reality, they can often lead to a cycle of debt and financial hardship. In the state of Arkansas, payday loans are prohibited by law, including in the city of Charlotte.

The Arkansas Payday Lending Law

In 2008, Arkansas passed the Arkansas Check Casher Act, which prohibits payday lending in the state. According to the law, lenders are not allowed to charge more than 10% interest per year, with additional fees limited to a maximum of $5 per loan. However, many payday lenders still operate illegally in the state, often through online or out-of-state lenders. It is important to remember that even if a lender is located outside of Arkansas, they are still subject to Arkansas law if they lend to Arkansas residents.

The Dangers of Payday Loans

While payday loans may seem like a convenient solution for those in need of quick cash, they often come with significant risks. The high interest rates and additional fees associated with these loans can quickly add up, leading to a cycle of debt and financial stress. In fact, studies have shown that the average payday loan borrower takes out eight loans per year and spends nearly half of the year in debt to payday lenders. Additionally, many payday lenders have been criticized for their predatory practices, such as aggressive collection tactics and hidden fees.

Applying for a Payday Loan in Charlotte, Arkansas

Because payday loans are illegal in Charlotte and throughout the state of Arkansas, it is not possible to apply for a payday loan through any legitimate lender in this area. However, there are still many online or out-of-state lenders who may be willing to offer loans to Arkansas residents, often at exorbitant interest rates and with additional fees.

Interesting facts and statistics about Payday Loans in Charlotte, Arkansas

  • Since payday lending was prohibited in Arkansas in 2008, the state has seen a decline in the number of payday lenders operating in the state.
  • In 2016, the average interest rate for payday loans in Arkansas was 528%, well above the legal limit of 10%.
  • According to a study by the Center for Responsible Lending, payday lending in Arkansas cost borrowers $25 million in fees annually.

Alternatives to Payday Loans

If you are in need of quick cash to cover unexpected expenses, there are several alternatives to payday loans that may be more affordable and less risky. These include:

  • Requesting a payment plan from your creditors or utility companies
  • Using a credit card or line of credit with a lower interest rate
  • Asking for an advance on your paycheck from your employer
  • Seeking assistance from local charitable organizations or community programs

TheGuaranteedLoans: A Loan Connection Service

If you do decide to apply for a loan online, it is important to choose a reputable lender. TheGuaranteedLoans is a loan connection service that can help connect you with potential lenders who may be able to provide you with the cash you need. We work with a network of trusted lenders who adhere to all state and federal regulations, ensuring that you are protected from illegal or predatory lenders.

Apply Now

Ready to apply for a loan? Fill out our online application to get started. Remember, we are a loan connection service and not a direct lender. We will work to find you potential lenders who may be able to offer you a loan that meets your needs.

F.A.Q.

Can I be arrested for not paying back an illegal payday loan in Charlotte, Arkansas?

No, you cannot be arrested for not paying back an illegal payday loan in Charlotte, Arkansas.

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in Charlotte, Arkansas?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in Charlotte, Arkansas. If you have been harassed or threatened, you can report the lender to the Arkansas State Department of Financial Services.