Payday Loans in Baltic, Connecticut

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No payday loan companies in Baltic, CT. Consider companies in other cities:

Company nameAddressZip codePhone number
Webster Bank 652 E Main St, Meriden, CT 06450 +1 (203) 639 - 2930
Chase Mortgage 371 E Putnam Ave, Cos Cob, CT 06807 +1 (203) 661 - 2854
Small Business Loans Connecticut - Merchant Cash Advance Bridgeport CT 380 Mountain Grove St, Bridgeport, CT 06605 +1 (203) 872 - 0653
Berkshire Bank 63 Norwich Ave, Colchester, CT 06415 +1 (860) 537 - 2422
Financial Wize Mortgage Lenders New Haven CT 545 Long Wharf Dr 701, New Haven, CT 06511 +1 (203) 941 - 4842
Webster Bank 1147 Tolland Turnpike, Manchester, CT 06042 +1 (800) 325 - 2424
Ion Bank 670 Main St S, Woodbury, CT 06798 +1 (203) 729 - 4442
United States Postal Service 696 Main St, Plymouth, CT 06782 +1 (800) 275 - 8777
Colonial Ford 126 Federal Rd 126, Danbury, CT 06811 +1 (203) 748 - 3503
KeyBank 1026 Main St, Branford, CT 06405 +1 (203) 483 - 1713

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Baltic, CT, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Bristol, CT, Payday Loans in Danbury, CT, 24-Hour Loan in East Hartford, CT, No Credit Check Loans in Enfield, CT, Guaranteed Loans in Fairfield, CT, Emergency Loan in Glastonbury, CT, Payday Loans in Greenwich, CT and Payday Loans in Groton, CT. 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 Baltic, CT.

Beautiful sights of Baltic, CT

Payday Loans Available in Baltic, CT By The Following ZIP Codes:

06330

Are Payday Loans Legal In Baltic, Connecticut?

Payday Lending is Prohibited in Connecticut

Connecticut Loan Regulations

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

Baltic, CT payday loan calculator

Payday Loans in Baltic, Connecticut: A Comprehensive Guide

If you’re a resident of Baltic, Connecticut, you may be searching for options to access quick cash in the event of an unexpected expense or emergency. While payday loans may seem like a viable solution, it’s important to understand that payday lending is prohibited in Connecticut. In this article, we’ll take a closer look at payday loans, why they’re illegal in Connecticut, and alternatives you can consider to help you access the funds you need.

What are Payday Loans?

Payday loans are short-term, high-interest loans that are typically due on the borrower’s next payday. In many cases, borrowers are required to provide a post-dated check or authorize an electronic debit in order to secure the loan. Payday loans are often marketed as a quick and easy way to access cash, but they can come with high fees and interest rates that can trap borrowers in a cycle of debt.

Why are Payday Loans Illegal in Connecticut?

In 2010, Connecticut passed a law that prohibits payday lenders from operating in the state. The law was designed to protect consumers from predatory lending practices and to prevent borrowers from becoming trapped in a cycle of debt. While some out-of-state payday lenders may still attempt to offer loans to Connecticut residents, it’s important to remember that these lenders are operating illegally and should be avoided.

Alternatives to Payday Loans in Baltic, Connecticut

If you’re in need of cash, there are alternatives to payday loans that may be more affordable and less risky. Here are a few options to consider:

  • Credit cards: If you have a credit card, you may be able to use it to cover your emergency expenses. While credit card interest rates can also be high, they’re generally lower than payday loan rates. Just be sure to pay off your balance as soon as possible to avoid racking up too much interest.
  • Personal loans: You may be able to qualify for a personal loan through a bank or credit union. Personal loans typically have lower interest rates than payday loans, but they may require a credit check and a longer application process.
  • Community organizations: Some community organizations may offer emergency financial assistance to help individuals and families in need. Contact your local social services department or nonprofit organizations to see what resources may be available in your area.

Interesting Facts and Statistics

  • Connecticut prohibits payday loans with an APR above 12%. This is one of the lowest caps in the nation.
  • According to the Connecticut Department of Banking, there were 3,713 complaints related to payday lending in the state between 2007 and 2016.
  • A 2016 report from the Center for Responsible Lending found that payday lenders in Connecticut charge annual interest rates of up to 448%.

Applying for a Loan on TheGuaranteedLoans

If you’re looking for a loan, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of trusted lenders to help our customers find the right loan for their needs. To get started, simply fill out our online application. We’ll match you with lenders who fit your profile and you can choose the loan that works best for you.

While payday loans may be illegal in Connecticut, there are still options available to help you access the funds you need. By understanding the risks of payday lending and exploring alternatives, you can make informed choices and avoid falling into a cycle of debt.

F.A.Q.

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

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

Are there any protections for borrowers who take out illegal payday loans in Baltic, Connecticut?

Yes, the state of Connecticut 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.