Payday Loans in Lafe, Arkansas

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

Company nameAddressZip codePhone number
Checks Exchange 103 Hwy 71, De Queen, AR 71832 +1 (870) 642 - 5420
Mexico Transfers Inc 400 S 8th St D, Rogers, AR 72756 +1 (479) 633 - 0089
Roland Dancy - Thrivent Financial 10809 Executive Center Dr 205, Little Rock, AR 72211 +1 (501) 476 - 3432
Equity Bank 911 W Trimble Ave, Berryville, AR 72616 +1 (870) 423 - 1700
Stone Bank 7739 Sheridan Rd 3261, White Hall, AR 71602 +1 (833) 253 - 2265
Jackson Hewitt Tax Service 427 Hwy 425 N, Monticello, AR 71655 +1 (870) 460 - 9088
Lindsey Lloyd E CPA 308 W Washington St 1, Camden, AR 71701 +1 (870) 836 - 7311
Regions Bank 121 Lost Creek Pkwy, Fairfield Bay, AR 72088 +1 (800) 734 - 4667
Neafcu 2704 Fair Park Blvd, Jonesboro, AR 72401 +1 (870) 935 - 9336
Rheem Arkansas Federal CU 4301 Regions Park Dr 5a, Fort Smith, AR 72916 +1 (479) 242 - 2771

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lafe, AR, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Sherwood, AR, Online Loans in Springdale, AR, Payday Loan Companies in Texarkana, AR, Payday Loans in Benton, AR, Guaranteed Loans in Bentonville, AR, Quick Loan in Conway, AR, Payday Loans in Fayetteville, AR and Bad Credit Loans in Fort Smith, 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 Lafe, AR.

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

72436

Are Payday Loans Legal In Lafe, 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

Lafe, AR payday loan calculator

Understanding Payday Loans in Lafe, Arkansas

Payday loans are a type of short-term loan that can provide quick cash to cover unexpected expenses. However, in Arkansas, payday loans are prohibited by law, including Lafe. While payday loans can be tempting, it’s important to understand the risks and alternatives before considering one.

What Are Payday Loans?

Payday loans are typically small loans that are due on your next payday. Lenders usually require borrowers to provide proof of income, a bank account, and a post-dated check or authorization to withdraw funds from their bank account. The amount borrowed is usually a portion of the borrower’s paycheck.

However, payday loans can come with high interest rates and fees, making them difficult to repay. In some cases, borrowers can roll over their loan, incurring additional fees and interest.

Payday Loans Are Prohibited in Arkansas

Payday loans have been illegal in Arkansas since 2008, when the state passed the Arkansas Check Cashers Act. The law prohibits lenders in Arkansas from charging more than 17% interest on consumer loans. Payday lenders typically charge much higher interest rates, making it impossible for them to operate within the state.

This means that if you are in Lafe, Arkansas, you cannot legally obtain a payday loan. If you’re struggling financially and looking for immediate cash, there are other options available to you.

Alternatives to Payday Loans

If you find yourself in need of emergency cash, there are several options to consider. Some alternatives to payday loans include:

  • Credit Card Cash Advance: If you have a credit card with available credit, you can withdraw cash from an ATM or bank. However, cash advances typically come with a high interest rate and fees.
  • Personal Loan: A personal loan from a bank or credit union can provide more manageable interest rates and terms than a payday loan.
  • Borrow from Friends or Family: Consider reaching out to friends or family for assistance.
  • Payment Plan: Some creditors may be willing to work with you on a payment plan if you are struggling to make payments.

Interesting Facts and Statistics About Payday Loans in Arkansas

While payday loans are not legal in Arkansas, there are still some concerning facts and statistics about payday loans and their impact:

  • In 2015, Arkansas borrowers were paying an average of 487% APR on payday loans before the law prohibited them.
  • The majority of payday loans are taken out by borrowers who need to take out additional loans to pay off the first one, leading to a cycle of debt that can be difficult to escape.

Apply Now and Connect with Potential Lenders

If you’re looking for fast cash and are considering payday loans, it’s important to explore all of your options. While payday loans are illegal in Arkansas, there may be other lenders who can provide the funds you need.

TheGuaranteedLoans is a connector service that can help connect you with potential lenders who can provide online payday loans or installment loans. We are not a direct lender, but we can help you find a lender who can provide the funds you need.

If you’re interested in exploring your options, you can fill out our online application form today. Our application is quick and easy, and we can help you connect with potential lenders who can provide the funds you need to cover unexpected expenses.

Conclusion

While payday loans may seem like an appealing option for quick cash, they can be very risky and are illegal in Arkansas. If you’re struggling financially and need immediate cash, there are other alternatives available to you, including personal loans, credit card cash advances, or payment plans. Remember to always read the fine print and understand the interest rates and fees before taking out any type of loan.

F.A.Q.

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

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

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

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