Payday Loans in Pendergrass, Georgia

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

Company nameAddressZip codePhone number
AFC Automotive Finance Corp. 5055 Oakley Industrial Blvd, Fairburn, GA 30213 +1 (770) 357 - 2289
First Bank of Pike 50 Spring Rd, Molena, GA 30258 +1 (770) 884 - 5610
Tri County Title Pawn 1112 Hull Rd, Athens, GA 30601 +1 (706) 420 - 0066
TitleMax Title Pawns 744 (780 ) Veterans Memorial Hwy, Mableton, GA 30126 +1 (770) 745 - 2774
Regions Bank 2509 GA-88, Hephzibah, GA 30815 +1 (706) 804 - 9030
Equity Auto Loan 1955 Veterans Blvd, Dublin, GA 31021 +1 (478) 246 - 2249
Small Busines Assistance Corporation SBAC 111 E Liberty St, Savannah, GA 31401 +1 (912) 232 - 4700
Sunbelt Credit 207 E 10th St, West Point, GA 31833 +1 (706) 643 - 1020
Provident Investment Corporation 444 US-319 BUS, Moultrie, GA 31768 +1 (229) 985 - 7459
1st Franklin Financial 192 S Virginia Ave Suite 202, Tifton, GA 31794 +1 (229) 382 - 3851

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Pendergrass, GA, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Smyrna, GA, Payday Loans in Statesboro, GA, Payday Loan Without a Credit Check in Tucker, GA, No Credit Check Loans in Valdosta, GA, Payday Loan for Warner Robins, GA, Payday Loan Without a Credit Check in Albany, GA, Same Day Loans in Alpharetta, GA and Short-term Loans in Atlanta, 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 Pendergrass, GA.

Beautiful sights of Pendergrass, GA

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

30567

Are Payday Loans Legal In Pendergrass, 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

Pendergrass, GA payday loan calculator

Payday Loans and Why They Are Prohibited in Pendergrass, Georgia

Payday loans are relatively small, short-term loans offered by various lenders to individuals who require urgent financial assistance. These loans are typically taken out to cover unexpected expenses or bills and are usually paid back when the borrower receives their next paycheck. Although payday loans can provide a quick solution to your financial problems, they come with high-interest rates and fees that can lead to long-term debt. As such, Georgia is one of the states that have banned payday loans.

What Are Payday Loans?

Payday loans are a type of short-term loan designed for individuals who require immediate cash due to a financial emergency. They are usually offered by private lenders, storefronts, or online platforms and are often easily accessible even to those who have a poor credit rating. The loan amounts can range from $50 to $1,500, and the repayment period is usually two weeks or until the next payday. Unfortunately, their high-interest rates often lead to the borrowers being trapped in a cycle of debt, leading to the prohibition of such loans in some states.

Payday Loan Prohibition in Pendergrass, Georgia

All forms of payday lending, including installment loans, vehicle title loans, and prepaid debit cards, are explicitly prohibited in the state of Georgia. The state of Georgia has made payday loans illegal to protect consumers from high-interest payday loans and financial scams; the Georgia Industrial Loan Act regulates small loans to discourage predatory practices by the lenders.

Georgia law has established a strict guideline for small-dollar loans. The state has imposed a maximum interest rate of 10% per year or $5 for every $100 borrowed, whichever is higher. The state has also established additional regulations on lending by mandating lenders to be licensed through Georgia’s Department of Banking and Finance and to follow all state regulations for lending.

Why Payday Loans Are Prohibited in Pendergrass, Georgia?

The state of Georgia has prohibited payday loans because the lenders engaged in predatory lending practices, leading to widespread problems for the borrowers. Payday loans were found to trap borrowers in a cycle of debt, pushing them to borrow more to repay the previous loan. This practice led to a vicious circle of borrowing and indebtedness that impacted their lives negatively. Additionally, payday loans were deemed too risky for borrowers because of their high-interest rates and fees, which left borrowers under the burden of debt.

What Are the Alternatives to Payday Loans?

Although payday loans are illegal in Georgia, there are still other options available to the borrowers. Some of the alternatives to payday loans include:

  • Credit Union Loans: Credit unions offer affordable loans with lower interest rates and fees compared to traditional banks or payday lenders.
  • Personal Installment Loans: Personal installment loans are usually offered by online lenders and can have lower APRs and a longer repayment period.
  • Borrowing from Friends or Family: Borrowing from friends or family members might not come with interest rates, and they are more lenient on the repayment terms, making them an attractive option compared to payday loans.
  • Cash Advance from your Credit Card: Credit Cards can offer cash advances which come with a lower interest rate compared to payday loans.

Interesting Facts About Payday Loans in Pendergrass, Georgia

Payday loans are prohibited in Pendergrass, Georgia, and the rest of Georgia. As of 2021, there are no licensed payday lenders in Georgia, meaning that any entity offering short-term or payday loans is not licensed to lend in the state.

According to a study by the Center for Responsible Lending, the average payday loan borrower is in debt for almost 200 days of the year, taking the loan out repeatedly over that span to try to make ends meet. The same report notes that payday loans cost the American economy $774 million in 2013, producing $185 million in direct payday lender revenue and costing the remaining $590 million in lost consumer spending and increased fees to borrowers.

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Need financial assistance? We can help! TheGuaranteedLoans is a connector service, not a direct lender, that simplifies the process of finding potential lenders at no cost. Fill out our online application in a few minutes, and we’ll match you with lenders that suit your needs. You don’t need to worry about your credit score, as our lenders are willing to offer loans to those with poor credit histories. Get started today and take the first step towards financial freedom!

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Pendergrass, Georgia?

It is illegal for lenders to offer payday loans in Pendergrass, Georgia, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Pendergrass, Georgia?

If you have already taken out a payday loan in Pendergrass, Georgia, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.