Payday Loans in Welaka, Florida

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

Company nameAddressZip codePhone number
Raymond James Financial Services 2138 US-19 ALT D, Palm Harbor, FL 34683 +1 (727) 784 - 2300
Argent Healthcare Financial 1249 SW Seahawk Way, Palm City, FL 34990 +1 (772) 463 - 2653
Amstar Funding 630 US-1, North Palm Beach, FL 33408 +1 (561) 841 - 3151
First Coast Community Cu 306 S Palm Ave, Palatka, FL 32177 +1 (386) 328 - 5555
Mariner Finance 308 FL-19, Palatka, FL 32177 +1 (386) 329 - 8988
SunTrust 15375 US-441, Eustis, FL 32726 +1 (352) 308 - 3443
Advance America 4920 E Silver Springs Blvd Ste. 103, Ocala, FL 34470 +1 (352) 694 - 9920
SunTrust Mortgage 296 Blanding Blvd, Orange Park, FL 32073 +1 (904) 213 - 2631
Payday Loans Pinellas Park 42nd St N, Pinellas Park, FL 33781
SunTrust Mortgage 34901 Emerald Coast Pkwy, Destin, FL 32541 +1 (850) 650 - 3771

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Welaka, FL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Spring Hill, FL, Payday Loans in Tallahassee, FL, Payday Loans in Tampa, FL, Same Day Loans in The Villages, FL, Online Loans in Titusville, FL, Quick Loan in Valrico, FL, Bad Credit Loans in Wesley Chapel, FL and Payday Loan Without a Credit Check in West Palm Beach, 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 Welaka, FL.

Beautiful sights of Welaka, FL

Payday Loans Available in Welaka, FL By The Following ZIP Codes:

32193

Are Payday Loans Legal In Welaka, Florida?

Loan Rates and Fees, Laws and Regulations in Florida.

There are three active types of payday loans in Welaka, 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

Welaka, FL payday loan calculator

Payday loans are a popular form of short-term lending in Florida, and the small town of Welaka is no exception. If you’re considering taking out a payday loan in Welaka, it’s important to understand the basics of how these loans work and the potential risks involved. Here’s what you need to know:

What Are Payday Loans?

A payday loan is a short-term loan that’s typically intended to be repaid on the borrower’s next payday. These loans are usually for small amounts, typically ranging from $100 to $1,000, and are often marketed as a convenient way to bridge a financial gap between paychecks.

How Do Payday Loans Work in Florida?

Payday loans are legal in Florida, but the state has strict regulations in place to protect consumers. Under Florida law, payday lenders are required to follow specific guidelines, including:

  • Limiting loan amounts to $500 or less
  • Requiring borrowers to sign an agreement that outlines the terms and fees of the loan
  • Limiting the finance charge to 10% of the loan amount
  • Allowing borrowers to cancel the loan within one business day without penalty
  • Restricting borrowers to one loan at a time and limiting the number of loans they can take out in a year

Florida law also prohibits payday lenders from charging excessive fees or using abusive collection tactics. If you believe a lender has violated Florida’s payday loan laws, you can file a complaint with the Florida Office of Financial Regulation.

The Risks of Payday Loans

While payday loans can be a convenient way to access cash quickly, they also come with a number of risks. The high fees associated with these loans can make them difficult to repay, and many borrowers end up taking out multiple loans and getting trapped in a cycle of debt.

Additionally, payday lenders often target low-income and vulnerable individuals who are already struggling financially. These borrowers may not fully understand the terms of the loan or have access to other types of credit, which can increase their risk of falling into debt.

Interesting Facts About Payday Loans in Welaka, Florida

  • According to data from the Florida Office of Financial Regulation, there were 99 licensed payday lenders operating in Florida as of 2021.
  • In 2020, the average payday loan in Florida was $389 with an average finance charge of $42.
  • The top reason cited by borrowers for taking out a payday loan in Florida is to cover unexpected expenses, followed by paying bills and making car or home repairs.

Apply Now for a Payday Loan in Welaka

If you’re considering a payday loan in Welaka, the first step is to find a reputable lender. TheGuaranteedLoans is a connector service that can help you connect with potential lenders in your area. We work with a network of trusted lenders who are committed to following all applicable laws and providing transparent terms and fees. Apply now to get started.

Please note that TheGuaranteedLoans is a connector service, not a direct lender. We do not make lending decisions or determine the terms and fees of your loan. Instead, we facilitate your connection with potential lenders who may be able to offer you a loan based on your individual needs and circumstances. As with any loan, it’s important to read the agreement carefully and make sure you understand all the terms and fees before accepting the loan.

F.A.Q.

Can payday lenders take legal action against me in Welaka, Florida?

Yes, if you default on your payday loan in Welaka, Florida, the lender may be able to take legal action against you to recover the unpaid loan amount. This could include filing a lawsuit against you or obtaining a judgment against you.

Can I be arrested for not paying back a payday loan in Welaka, Florida?

No, it is illegal for a payday lender in Welaka, Florida to threaten or attempt to arrest you for not paying back a payday loan. If you are being threatened with arrest, you should contact the Florida Office of Financial Regulation for assistance.