Payday Loans in Dyess, Arkansas

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

Company nameAddressZip codePhone number
Express Lane 179 South St SW, Camden, AR 71701 +1 (870) 231 - 4400
Sente Mortgage - Cabot, AR 2391 W Main St suite b, Cabot, AR 72023 +1 (501) 940 - 2951
River Valley Community Federal Credit Union 2416 N West Ave, El Dorado, AR 71730 +1 (870) 863 - 6000
Union Bank Loan Department 102 W McCloy St, Monticello, AR 71655 +1 (870) 460 - 6400
Dollarway Pawn & Audio 5608 Dollarway Rd, White Hall, AR 71602 +1 (870) 267 - 7774
Raymond James Financial Services 101 S Washington St 1, Forrest City, AR 72336 +1 (870) 633 - 0032
FFB Agriculture Lending 600 US-71, Mena, AR 71953 +1 (479) 394 - 2318
Arkansas Federal Credit Union 1114 AR-35, Benton, AR 72019 +1 (501) 982 - 1000
Arkansas Best Federal Credit Union 3501 Old Greenwood Rd 1, Fort Smith, AR 72903 +1 (479) 649 - 2060
Arkansas Federal Credit Union 100 S Rockwood Dr, Cabot, AR 72023 +1 (501) 982 - 1000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dyess, AR, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in North Little Rock, AR, Emergency Loan in Pine Bluff, AR, Payday Loans in Rogers, AR, Payday Loans in Sherwood, AR, Payday Loans in Springdale, AR, Payday Loan for Texarkana, AR, Payday Loans in Benton, AR and Payday Loans in Bentonville, 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 Dyess, AR.

Beautiful sights of Dyess, AR

Payday Loans Available in Dyess, AR By The Following ZIP Codes:

72330

Are Payday Loans Legal In Dyess, 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

Dyess, AR payday loan calculator

Payday Loans in Dyess, Arkansas: Everything You Need to Know

Payday loans are a popular short-term financing option for many Americans, but they are prohibited in Arkansas. According to the Arkansas Attorney General, payday lending is illegal under the state’s usury laws, which cap interest rates at 17%.

Despite being outlawed, payday lenders have found ways to operate in the state of Arkansas. As a result, many people in Dyess, Arkansas, and other parts of the state have been lured into payday loans, a cycle of debt that is difficult to break free from.

What are Payday Loans?

Payday loans are short-term loans that borrowers take out against their upcoming paychecks. These loans typically have high-interest rates and short repayment terms. For many borrowers, payday loans can be a quick fix for a financial emergency, but the high-cost fees and interest rates can make it difficult to repay them on time.

The process of obtaining a payday loan is usually straightforward. The borrower writes the lender a post-dated check for the loan amount, plus fees and interest. The lender then agrees to hold the check until the borrower’s next payday, when the lender will cash it. If the borrower is unable to repay the loan in full on the due date, they may be forced to roll over the loan, accruing additional fees and interest.

Why are Payday Loans Prohibited in Arkansas?

In 2008, the Arkansas Supreme Court ruled that payday lending violated the state’s usury laws and was therefore illegal. The court decision focused on the excessive cost of payday loans, which often carry average interest rates of 400% or more. These rates and fees can make it nearly impossible for borrowers to pay off their debts, leading to a cycle of debt and financial instability.

How to Avoid Payday Loans

There are a few steps you can take to avoid payday loans in Dyess, Arkansas, and other parts of the state. One is to create a budget and stick to it, so you know exactly how much money you have available each month. This can help you avoid overspending and needing to rely on payday loans.

Another strategy is to build an emergency fund. This can act as a cushion during tough financial times, and you may be less likely to rely on high-interest loans if you have some savings set aside.

If you do need to borrow money, consider other options such as personal loans from a bank or credit union, or credit card cash advances. These types of loans typically have lower interest rates and fees than payday loans, making them a better choice for many borrowers.

Interesting Facts

  • Arkansas is one of 18 states that have banned payday lending.
  • In 2016, the Consumer Financial Protection Bureau (CFPB) issued new rules aimed at regulating payday lending nationwide.
  • The average payday loan borrower takes out eight loans per year, each with an average loan amount of $375.
  • In Arkansas, payday lenders have found ways to evade state regulations and continue offering high-cost loans.

Apply Now

If you’re in need of a short-term loan, TheGuaranteedLoans can help connect you with potential lenders who may be able to offer you the financing you need. Simply fill out our online application form with your personal and financial information, and we’ll match you with lenders who may be interested in working with you.

Please note that TheGuaranteedLoans is a connector service, not a direct lender. We only facilitate connections between borrowers and lenders, and we don’t make lending decisions or set loan terms and conditions.

Conclusion

While payday loans are prohibited in Arkansas, many people may still be tempted to use them due to financial hardship. However, it’s important to remember that payday loans come with high interest rates and fees that can trap borrowers in a cycle of debt. By being mindful of your finances and exploring other loan options, you may be able to avoid the high-cost of payday loans and maintain financial stability.

F.A.Q.

What are the alternatives to payday loans in Dyess, Arkansas?

Consumers in Dyess, Arkansas can seek out small, short-term loans from credit unions or banks, or can consider using a credit card or personal loan for financial emergencies.

Why are payday loans prohibited in Dyess, Arkansas?

Payday loans are prohibited in Dyess, Arkansas due to their high interest rates and fees, which can trap consumers in a cycle of debt.