Payday Loans in Moreland, Georgia

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No payday loan companies in Moreland, GA. Consider companies in other cities:

Company nameAddressZip codePhone number
1st Franklin Financial 2825 Washington Rd Suite M-2, Augusta, GA 30909 +1 (706) 667 - 5418
Republic Finance 24 Alicia Ln # 4, Dahlonega, GA 30533 +1 (706) 864 - 3718
Synovus Bank - ATM 2976 US-76, Chatsworth, GA 30705 +1 (888) 796 - 6887
Wells Fargo Bank 1600 Frederica Rd #1, Saint Simons Island, GA 31522 +1 (912) 634 - 2135
World Finance 2155 N Elm St, Commerce, GA 30529 +1 (706) 335 - 7504
Speedee Cash 1820 N Columbia St, Milledgeville, GA 31061 +1 (478) 451 - 5038
Synovus Bank 75 Metromont Rd, Hiram, GA 30141 +1 (888) 796 - 6887
Security Finance 74 N Broad St, Winder, GA 30680 +1 (770) 867 - 3171
World Finance Corporation 4720 Jonesboro Rd #15, Union City, GA 30291 +1 (770) 306 - 2812
Pinnacle Bank 861 Church St, Royston, GA 30662 +1 (706) 245 - 7341

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Moreland, GA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Redan, GA, 24-Hour Loan in Rome, GA, Payday Loans in Roswell, GA, Payday Loans in Savannah, GA, Guaranteed Loans in Smyrna, GA, Quick Loan in Statesboro, GA, Bad Credit Loans in Tucker, GA and Payday Loans in Valdosta, GA. 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 Moreland, GA.

Beautiful sights of Moreland, GA

Payday Loans Available in Moreland, GA By The Following ZIP Codes:

30259

Are Payday Loans Legal In Moreland, Georgia?

Payday Lending is Prohibited in Georgia

Georgia Loan Regulations

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

Moreland, GA payday loan calculator

Payday loans are a type of short-term loan designed to help individuals bridge the gap between paychecks. While these loans can be helpful in some situations, they are generally not available in Georgia. Moreland, Georgia is among the many cities in the state that prohibit payday lending. This article will take a detailed look at payday loans in Moreland, Georgia, exploring their prohibition and what alternatives residents can turn to when in need of emergency funds.

Understanding Payday Loans

A payday loan is a short-term loan, usually due on the borrower’s next payday. These loans can range from $50 to $1,000, depending on the lender and the borrower’s income level. The borrower typically writes a post-dated check for the loan amount plus fees, and the lender cashes the check on the borrower’s payday. If the borrower is unable to repay the loan, they may renew it for another term, resulting in additional fees and interest charges.

Payday loans are often marketed as a quick and easy solution to unexpected expenses, such as car repairs or medical bills. However, these loans often come with high-interest rates and fees, making them difficult to repay for many borrowers. The cycle of borrowing and renewing payday loans can quickly lead to overwhelming debt.

Payday Loan Prohibition in Moreland, Georgia

Georgia is one of the states that have prohibited payday lending. The Georgia Industrial Loan Act, which regulates consumer loans of $3,000 or less, expressly prohibits payday loans and similar short-term loans.

Specifically, the law states that lenders cannot charge more than 10% interest on loans less than $3,000. This effectively prohibits payday loans, as the typical interest rate on a payday loan can be much higher than 10%.

Moreover, the Georgia Attorney General’s Office has taken a firm stance against payday lending, warning consumers about the pitfalls of these loans and cracking down on lenders who attempt to flout the state’s laws.

Alternatives to Payday Loans in Moreland, Georgia

While payday loans are not available in Moreland, Georgia, there are still options available for residents who need emergency funds. Here are some alternatives to consider:

  • Personal Loans: Personal loans from banks, credit unions, or online lenders can offer lower interest rates and longer repayment terms than payday loans.
  • Credit Cards: For smaller expenses, a credit card with a low-interest rate can be a good option. However, it’s important to pay off the balance as soon as possible to avoid accumulating debt.
  • Extended Payment Plans: Many utility companies, medical providers, and other creditors offer extended payment plans for customers who are struggling to make ends meet. These can be a good option for those with a short-term cash crunch.
  • Borrowing from Friends or Family: While not ideal, borrowing from friends or family may be a better option than a payday loan, provided that both parties are clear on the terms and conditions of the loan.

Interesting Facts about Payday Loans in Moreland, Georgia

Although payday loans are prohibited in Moreland, Georgia, it’s interesting to note that these loans are still legal in many other states. According to the Consumer Financial Protection Bureau (CFPB), payday loans are legal or partially legal in 32 states.

Moreover, the CFPB has found that the average payday loan borrower takes out 10 payday loans per year, spending roughly 200 days in debt. This debt trap can lead to financial ruin for many borrowers, making it all the more important for states to regulate payday lending and protect consumers from predatory lending practices.

Apply Now

If you’re a Moreland, Georgia resident in need of emergency funds, TheGuaranteedLoans can help connect you with potential lenders. While we are not a direct lender, we are a connector service that helps match borrowers with lenders who may be able to offer personal loans, title loans, or other types of loans.

Simply fill out our online application to get started. We’ll take your information and match you with lenders who meet your needs. Remember to read the terms and conditions carefully and to borrow only what you can afford to repay.

Final Thoughts

While payday loans are prohibited in Moreland, Georgia, residents still have options available when they need emergency funds. By exploring alternatives like personal loans, credit cards, and extended payment plans, borrowers can avoid the pitfalls of payday lending and protect themselves from predatory lending practices. If you’re in need of emergency funds, consider using a connector service like TheGuaranteedLoans to help you find the right loan for your needs.

F.A.Q.

Are payday loans legal in Moreland, Georgia?

No, payday loans are not legal in Moreland, Georgia. In fact, the state has some of the strictest laws in the country when it comes to payday lending, and it is one of only a few states that completely prohibits the practice.

What are the consequences of taking out a payday loan in Moreland, Georgia?

Taking out a payday loan in Moreland, Georgia is illegal, and violators can face significant penalties, including fines, jail time, and the revocation of their business license.