Payday Loans in Waldenburg, Arkansas

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

Company nameAddressZip codePhone number
A M & N Federal Credit Union 1410 University Dr, Pine Bluff, AR 71601 +1 (870) 534 - 1990
Farm Credit of Western Arkansas - El Dorado 3400 W Hillsboro St, El Dorado, AR 71730 +1 (870) 863 - 7237
Rudkin and Associates Mortgage 11908 Kanis Rd G5, Little Rock, AR 72211 +1 (501) 312 - 1088
First Stop Pawn & Loan 205 Springfield St, Plumerville, AR 72127 +1 (501) 208 - 9904
First Security Bank 626 AR-365, Mayflower, AR 72106 +1 (501) 470 - 3600
Fast Cash Pawn 2219 AR-367, Newport, AR 72112 +1 (870) 523 - 5236
Rely-a-Pawn 3500 E Broadway Ave B, West Memphis, AR 72301 +1 (870) 733 - 9600
Farmers Bank & Trust 201 E 3rd St, Hope, AR 71801 +1 (870) 777 - 2363
Pawn Express of Foreman 806 E 2nd Ave, Foreman, AR 71836 +1 (870) 542 - 6399
Arkansas Employees Federal Credit Union 306 S Cross St, Little Rock, AR 72201 +1 (800) 472 - 3272

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Waldenburg, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Little Rock, AR, Short-term Loans in North Little Rock, AR, Payday Loans in Pine Bluff, AR, Payday Loans in Rogers, AR, Payday Loan Without a Credit Check in Sherwood, AR, Payday Loans in Springdale, AR, Payday Loan for Texarkana, AR and Emergency Loan in Benton, 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 Waldenburg, AR.

Beautiful sights of Waldenburg, AR

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

72475

Are Payday Loans Legal In Waldenburg, 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

Waldenburg, AR payday loan calculator

Payday Loans in Waldenburg, Arkansas – What You Need to Know

Payday loans are small-dollar, short-term loans, typically due on the borrower’s next payday. These loans are often taken out by people who need quick access to cash and have few other options. But what happens if you live in Waldenburg, Arkansas? Are payday loans legal or prohibited?

Payday Lending in Waldenburg, Arkansas

It is important to note that payday loans are actually prohibited in the state of Arkansas. The Arkansas Constitution caps interest rates at 17%, making payday lending illegal.

The Arkansas Attorney General’s office has even warned consumers about the risks of payday lending, stating that these loans often have high interest rates and fees that can trap borrowers in a cycle of debt.

The Risks of Payday Lending

As mentioned above, payday loans are known for their high interest rates and fees. According to the Consumer Financial Protection Bureau (CFPB), payday loans can come with an annual percentage rate (APR) of 400% or more. This means that a borrower could potentially pay $15 or more in fees for every $100 borrowed.

The CFPB has also found that many payday loan borrowers end up rolling over their loans, which means they extend the due date by paying only the fees owed and not the principal. This can lead to a cycle of debt that is difficult to escape.

Alternatives to Payday Loans

While payday loans are not legal in Arkansas, there are still options for people who need quick access to cash. Some possible alternatives include:

  • Credit union loans: Many credit unions offer small-dollar loans that are much more affordable than payday loans.
  • Personal loans: These loans may be available through banks or online lenders. They often come with lower interest rates and more flexible repayment terms than payday loans.
  • Credit card cash advances: While not ideal, a credit card cash advance can be a less expensive option than a payday loan.

It is important to explore all of your options and choose the best one for your unique situation.

Interesting Facts about Payday Loans in Waldenburg, Arkansas

  • The average payday loan in Arkansas has an APR of 658%
  • The Arkansas Attorney General has taken action against several payday lenders for illegally operating in the state
  • In 2016, an Arkansas judge ruled that a payday lender could not pass off its loans as “installment loans” in order to bypass state lending laws

Apply Now

If you need access to quick cash, TheGuaranteedLoans may be able to help. We are a connector service that can help you find potential lenders for personal or installment loans. Simply fill out our online application, and we will match you with lenders who may be able to help you get the money you need.

Please note that TheGuaranteedLoans is not a direct lender, and we do not make credit decisions. We are simply here to help you find potential lenders that may be able to offer you a loan.

Conclusion

While payday loans may be tempting, they can be very expensive and can lead to a cycle of debt that is difficult to escape. If you live in Waldenburg, Arkansas, it is important to know that payday loans are illegal in the state and to explore other options for borrowing money. By taking the time to find a more affordable loan option, you can avoid the financial pitfalls of payday lending.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Waldenburg, Arkansas?

It is illegal for lenders to offer payday loans in Waldenburg, Arkansas, 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 Waldenburg, Arkansas?

If you have already taken out a payday loan in Waldenburg, Arkansas, 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.