Payday Loans in Orange Lake, Florida

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No payday loan companies in Orange Lake, FL. Consider companies in other cities:

Company nameAddressZip codePhone number
SunTrust Mortgage 2615 FL-50, Clermont, FL 34711 +1 (800) 634 - 7928
Almost a Bank In N Out Loans 745 Orienta Ave 1021, Altamonte Springs, FL 32701 +1 (386) 255 - 2844
Christine Gwen Scott Fairway Independent Mortgage Corporation Loan Officer 2635 Windguard Cir Suite 101, Wesley Chapel, FL 33544 +1 (508) 808 - 8474
Julia Stalnaker - Raymond James 1314 E Venice Ave, Venice, FL 34285 +1 (941) 412 - 1400
The Check Cashing Store 2100 45th St B-25, West Palm Beach, FL 33407 +1 (561) 842 - 3249
Fifth Third Bank & ATM 4570 Thomasson Ln, Naples, FL 34112 +1 (239) 417 - 5379
SunTrust 34901 Emerald Coast Pkwy, Destin, FL 32541 +1 (850) 714 - 5026
New American Funding 5425 Golden Gate Pkwy 1E, Naples, FL 34116 +1 (239) 237 - 0524
Chase Bank 702 N Pebble Beach Blvd, Sun City Center, FL 33573 +1 (813) 922 - 7000
Chase Bank 13621 US-441, Lady Lake, FL 32159 +1 (352) 259 - 3495

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Orange Lake, FL, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Pembroke Pines, FL, Payday Loans in Pensacola, FL, Payday Loans in Pinellas Park, FL, Same Day Loans in Plant City, FL, Payday Loans in Pompano Beach, FL, Guaranteed Loans in Port Charlotte, FL, Payday Loans in Port Orange, FL and Payday Loans in Port Saint Lucie, FL. 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 Orange Lake, FL.

Beautiful sights of Orange Lake, FL

Are Payday Loans Legal In Orange Lake, Florida?

Loan Rates and Fees, Laws and Regulations in Florida.

There are three active types of payday loans in Orange Lake, Florida: cash advance loans , personal check loan s, installment loans . Employees may take advance loans for any period of time starting from 7 to 31 days regardless their earnings during the last one-year period. Payday loan approval is based on a borrower's credit report, which is provided by the lender and subject to verification. Credit report is delivered unchanged to the borrower who complies with lender's requirements.

Requests are usually being settled online; quick cash advance pickup service is offered as well.

Payday loans are taken for $500 and have repayment terms of 4 weeks after the date of deposit receipt. Interest rate is equal to 35% (rounded to the second decimal place); APR - 304%.

The maximum amount of all your payday loans at one time shall not exceed $500.

There is a cooling-off period of 24 hours between 2 consecutive loans.

One loan at a time is allowed. No rollovers are allowed. Criminal actions are prohibited. An administrative fee equal to 50 cents for every $10 received as an advance or rollover may be charged; fee amount depends on credit report evaluation results available 24 hours ahead of loan repayment stage, as well as it depends on contract characteristics.

Florida Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)304
Maximum Loan Amount$500 exclusive of the fees
Minimum Loan Term7 days
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges0.1

Orange Lake, FL payday loan calculator

About Payday Loans in Orange Lake, Florida

Payday loan is a kind of short-term loan that is popular in the United States. In Florida, payday loans are legal, which means that residents in towns such as Orange Lake can obtain them in times of need.

With payday loans, borrowers can access cash advances to be repaid from their next paycheck. The loan amounts can vary from $100 to $1,000, depending on the loan provider’s policies or the borrower’s income and credit score. Payday loans offer a convenient and fast way of getting cash when the need arises. However, these loans come with high interest rates, and borrowers must consider their repayment capabilities before taking one out.

The Basics of Payday Loans in Florida

Payday loans are legal in Florida, and the state laws have set specific provisions that providers must follow. The maximum loan amount is $500, and the repayment period is from 7 to 31 days. The law stipulates that a borrower must pay off a payday loan and wait at least 24 hours before applying for another one.

Florida law prohibits rollovers or renewals of payday loans. A borrower can only obtain a new loan after repaying the previous one in full. Loans with interest-only payments or balloon payments are not allowed.

The Benefits of Payday Loans

  • Fast and Convenient Access to Cash
  • The application process for payday loans in Orange Lake is fast and easy. Borrowers usually receive the funds within the same day of application, making them an ideal option for emergencies.

  • No Credit Check Required
  • Unlike traditional loans, payday loans do not require a good credit score or credit history. Lenders are more concerned with the borrower’s income and ability to repay the loan. As long as a borrower meets the eligibility criteria, they can get approved, regardless of their credit score.

  • Transparent Terms and Conditions
  • Payday loan providers in Florida must detail all the terms and conditions of the loan, including the interest rates and any fees. This transparency helps the borrower understand the repayment obligations and prevent hidden charges.

  • No Collateral Required
  • Payday loans are unsecured, which means that a borrower does not need to offer their car or house as collateral. This feature makes them feasible for people without assets or those who do not want to commit their assets to obtain short-term financing.

The Risks of Payday Loans

Although payday loans provide quick access to cash, borrowers must be aware of the risks they pose.

  • High-Interest Rates
  • The interest rates for payday loans are high when compared to traditional loans. The annual percentage rates (APRs) can vary from 200% to 500%, depending on the lender and the loan amount.

  • Debt Trap
  • Borrowers who cannot repay the loan within the set period may be tempted to take a new loan to cover the previous one. This cycle can lead to a debt trap, where the borrower accumulates more debt and struggles to break free.

  • Expensive Fees
  • Payday loans may come with additional fees, such as origination fees, late payment fees, or prepayment penalties. These fees can add up quickly, making the loan more expensive than the borrower anticipated.

  • Impact on credit score
  • Defaulting on a payday loan can negatively impact a borrower’s credit score. The lender can report the delinquency to the credit bureaus, making it difficult for the borrower to access credit in the future.

Interesting Facts About Payday Loans in Orange Lake, Florida

As of 2021, the average payday loan amount for Orange Lake residents is $375.

Florida has specific laws regulating payday loans to protect consumers from predatory lending practices.

About a quarter of borrowers in Florida default on their payday loans, and the state has one of the highest delinquency rates in the US.

Apply Now

If you are a resident of Orange Lake, Florida, and need immediate cash, TheGuaranteedLoans can connect you with reliable payday loan lenders in the area. Our online application process is secure and straightforward, and we offer flexible repayment options. Remember that our services are a connection service, and we do not provide direct loans. Click on the ‘Apply Now’ button to start your application.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Orange Lake, Florida?

If a borrower defaults on a payday loan in Orange Lake, Florida, the lender may be able to sue the borrower to recover the outstanding balance. In some cases, the lender may be able to garnish the borrower's wages to repay the loan. It is important to carefully review the loan terms and understand the potential consequences of default before taking out a payday loan in Orange Lake, Florida.

Are there any restrictions on the number of payday loans that a borrower can take out in Orange Lake, Florida?

Yes, the state of Florida has implemented restrictions on the number of payday loans that a borrower can take out. Under state law, borrowers are only allowed to have one outstanding payday loan at a time. Additionally, borrowers must wait at least 24 hours after repaying a payday loan before taking out another one.