Payday Loans in Chaplin, Connecticut

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

Company nameAddressZip codePhone number
Citizens Bank 2584 Dixwell Ave, Hamden, CT 06514 +1 (203) 287 - 2820
The Pawn Depot 170 Meriden Rd, Waterbury, CT 06705 +1 (203) 528 - 3185
American Eagle Financial Credit Union 3579A Berlin Turnpike, Newington, CT 06111 +1 (860) 568 - 2020
Union Savings Bank 13 North St, Litchfield, CT 06759 +1 (860) 567 - 8752
Connecticut State Employees Credit Union 1666 Litchfield Turnpike 2, Woodbridge, CT 06525 +1 (203) 397 - 2949
Eric Lindh Foster Law, LLC 48 Main St Unit B, Old Saybrook, CT 06475 +1 (203) 533 - 4321
Thrivent Financial 984 Southford Rd 1, Middlebury, CT 06762 +1 (203) 758 - 8833
Savings Bank of Danbury 100 CT-37, New Fairfield, CT 06812 +1 (203) 746 - 7990
Connecticut State Check 432 Meriden Rd, Waterbury, CT 06705 +1 (203) 755 - 6333
Citizens Bank 23 Broadway Ave, Mystic, CT 06355 +1 (860) 572 - 8571

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Chaplin, CT, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Fairfield, CT, Same Day Loans in Glastonbury, CT, Online Loans in Greenwich, CT, No Credit Check Loans in Groton, CT, Payday Loans in Hamden, CT, 24-Hour Loan in Hartford, CT, Payday Loans in Manchester, CT and Payday Loans in Meriden, 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 Chaplin, CT.

Beautiful sights of Chaplin, CT

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

06235

Are Payday Loans Legal In Chaplin, 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

Chaplin, CT payday loan calculator

Payday Loans in Chaplin, Connecticut: Understanding the Law and Alternatives Available

You may have heard that payday loans are prohibited in Connecticut, but what does this mean for residents of Chaplin who may be in need of fast cash? In this article, we’ll explain what payday loans are, why they’re prohibited in Connecticut and what other options are available for those who need some financial assistance.

What are Payday Loans?

A payday loan is a type of short-term loan that’s typically due on the borrower’s next payday. These loans typically come with high interest rates, fees, and quick repayment terms. Many borrowers find themselves stuck in a cycle of debt because they can’t pay off the loan in time and end up taking out another loan to cover the first one.

In Connecticut, payday loans are prohibited by law. This means that lenders are not allowed to offer payday loans to residents of the state.

Why are Payday Loans Prohibited in Connecticut?

In 2010, Connecticut passed a law that prohibited payday loan lenders from operating in the state. The law was put in place to protect consumers from predatory lending practices, which often target those who are in desperate need of cash and charge exorbitant interest rates and fees.

Connecticut’s law also limits the interest rate that lenders can charge on other types of loans, such as personal loans and installment loans. This makes it easier for borrowers to pay back their loans and avoid falling into a cycle of debt.

Alternatives to Payday Loans in Chaplin, Connecticut

Even though payday loans are prohibited in Connecticut, there are other options available for those who need financial assistance. Some alternatives include:

  • Personal loans: Personal loans are a type of unsecured loan that can be used for a variety of purposes, including debt consolidation, home improvements, and emergency expenses. Personal loans typically come with lower interest rates than payday loans and longer repayment terms.
  • Credit cards: If you have a credit card, you can use it to cover your expenses until you get paid. Credit cards typically have higher interest rates than personal loans, but if you pay off your balance in full each month, you won’t accrue any interest.
  • Borrowing from friends or family: If you’re in a bind, consider asking friends or family members for a loan. This option can be tricky, though, as it can strain relationships if you’re unable to pay back the loan.

Interesting Facts and Statistics About Payday Loans in Chaplin, Connecticut

  • Payday loans have an average interest rate of 391%, making them one of the most expensive forms of credit available.
  • In 2015, the average payday loan in Connecticut was $408, with an average APR of 86%.
  • Payday loans are banned in 14 states, including Connecticut.
  • The Center for Responsible Lending estimates that payday lending costs Americans $3.4 billion annually.

Apply Now

If you’re in need of financial assistance, you can apply for a loan on TheGuaranteedLoans website. Keep in mind that TheGuaranteedLoans is a connector service, which means that we don’t lend money directly. Instead, we’ll connect you with potential lenders who can offer you a loan that fits your needs and budget.

To apply for a loan, simply fill out our online application form. It takes just a few minutes to complete, and we’ll match you with lenders who can offer you a loan in as little as 24 hours.

Conclusion

While payday loans are prohibited in Connecticut, there are other options available for those who need financial assistance. Personal loans, credit cards, and borrowing from friends and family are all viable alternatives to payday loans. Remember to compare interest rates and terms carefully before choosing a loan option, and always make sure you can afford to repay the loan before you sign on the dotted line.

Finally, if you’re in need of financial assistance, remember that TheGuaranteedLoans can connect you with potential lenders who can offer you a loan that fits your needs and budget. Apply today and get the help you need to overcome your financial challenges.

F.A.Q.

Can I be sued for defaulting on a payday loan in Chaplin, Connecticut?

No, you cannot be sued for defaulting on a payday loan in Chaplin, Connecticut because these loans are illegal in the state.

Can a payday loan be included in a bankruptcy filing in Chaplin, Connecticut?

No, a payday loan cannot be included in a bankruptcy filing in Chaplin, Connecticut because these loans are illegal in the state.