Payday Loans in Clarksburg, Indiana

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No payday loan companies in Clarksburg, IN. Consider companies in other cities:

Company nameAddressZip codePhone number
Huntington Bank 2600 East Conner Street, Noblesville, IN 46060 +1 (317) 773 - 7016
First State Bank 201 N Main St, Goshen, IN 46526 +1 (574) 533 - 8277
Kroger Money Services 3050 Meridian St, Anderson, IN 46016 +1 (765) 644 - 7702
CheckSmart 2839 E State Blvd, Fort Wayne, IN 46805 +1 (260) 496 - 8885
Central States Cash Co 122 E National Ave, Brazil, IN 47834 +1 (812) 442 - 1894
Supreme Lending 56199 Parkway Ave 3, Elkhart, IN 46516 +1 (574) 343 - 1065
Payday Loans Fort Wayne E Dewald St, Fort Wayne, IN 46802 +1 (855) 712 - 6315
Advance America 7254 Fishers Crossing Dr, Fishers, IN 46038 +1 (317) 578 - 2816
Local 697 Federal Credit Union 7200 Mississippi St 400, Merrillville, IN 46410 +1 (219) 845 - 6040
Check Into Cash 555 S Lake Rd S, Scottsburg, IN 47170 +1 (812) 752 - 9776

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Clarksburg, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Plainfield, IN, Payday Loans in Portage, IN, Payday Loans in Richmond, IN, Same Day Loans in South Bend, IN, Payday Loan Without a Credit Check in Terre Haute, IN, Payday Loans in Valparaiso, IN, Emergency Loan in West Lafayette, IN and 24-Hour Loan in Westfield, IN. 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 Clarksburg, IN.

Payday Loans Available in Clarksburg, IN By The Following ZIP Codes:

47225

Are Payday Loans Legal In Clarksburg, Indiana?

Loan Rates and Fees, Laws and Regulations in Indiana.

Indiana Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)382
Maximum Loan Amount$550
Minimum Loan Term14 days
Maximum Loan TermNot Specified
Number of Rollovers Allowed0
Finance Charges<$250 = 15% $250 - $400 = 13% $400 - $500 = 10%

Clarksburg, IN payday loan calculator

Payday Loans in Clarksburg, Indiana

Payday loans are short-term loans that offer instant cash to individuals facing unexpected expenses or emergencies. These loans are typically due on the borrower’s next payday and come with high interest rates and fees, making them a controversial financial product. However, in Indiana, payday loans are legal and regulated by state law, offering residents of Clarksburg access to this type of loan.

How Payday Loans Work in Clarksburg, Indiana

In Clarksburg, payday loans are regulated under Indiana Code § 24-4-4.5-7. These regulations require lenders to obtain a license from the Indiana Department of Financial Institutions and follow specific borrowing limits and guidelines.

Payday loans in Clarksburg typically range from $50 to $550 and carry a maximum finance charge of 15% of the total amount borrowed. These loans have a term of 14 days to 31 days, depending on the borrower’s payday schedule. If the borrower is unable to repay the loan within the agreed-upon timeframe, the lender can charge additional fees or interest and roll over the loan for another period.

Benefits of Payday Loans in Clarksburg, Indiana

Payday loans offer several benefits to individuals in Clarksburg who need access to quick cash. These benefits include:

  • Fast Approval: Payday loans are typically approved within hours, providing instant cash to individuals facing unexpected expenses or emergencies.
  • No Credit Check: Payday lenders typically do not require a credit check, making them a viable option for individuals with poor or no credit history.
  • Access to Cash: Unlike traditional loans that require collateral or a long approval process, payday loans offer cash to borrowers within a short period.

Despite these benefits, payday loans come with high costs and fees that can trap borrowers in a cycle of debt. It’s important to understand the terms and costs of payday loans before taking out this type of loan.

Factors to Consider When Taking Out a Payday Loan in Clarksburg, Indiana

When considering taking out a payday loan in Clarksburg, it’s important to understand the risks and costs associated with this type of loan. Some factors to consider include:

  • High Costs and Fees: Payday loans come with high finance charges and fees, often leading to an annual percentage rate (APR) that exceeds 400%. These costs can quickly accumulate if the borrower is unable to repay the loan on time, leading to a cycle of debt.
  • Short Repayment Period: Payday loans have a short repayment period, typically due on the borrower’s next payday. This short timeline can make it difficult for borrowers to repay the loan without taking out another payday loan.
  • Impact on Credit: Payday lenders typically do not report to credit bureaus. However, if the borrower defaults on the loan and the lender sells the debt to a collection agency, the borrower’s credit score may be negatively impacted.

Interesting Facts and Statistics about Payday Loans in Clarksburg, Indiana

  • The average payday loan amount in Indiana is $409, with an average finance charge of $60.47.
  • In 2020, Indiana residents took out over 1.2 million payday loans, totaling more than $514 million.
  • Between 2013 and 2018, the number of payday loans issued in Indiana decreased by 54%, indicating a trend towards reduced reliance on this type of loan.

Apply Now for a Payday Loan in Clarksburg, Indiana

If you’re facing an unexpected expense or emergency in Clarksburg, Indiana, and need access to quick cash, TheGuaranteedLoans can help connect you with potential lenders who offer payday loans. As a connector service, we work with a network of lenders to find loan offers that match your specific needs and requirements. Fill out our online application today and get connected with potential lenders who may be able to provide the cash you need.

It’s important to remember that payday loans come with high costs and fees and should only be used as a last resort. Be sure to understand the terms and costs of the loan before signing any agreement.

F.A.Q.

What should I do if I feel that a payday lender in Clarksburg, Indiana is acting illegally or unfairly?

If you feel that a payday lender in Clarksburg, Indiana is acting illegally or unfairly, you can file a complaint with the Indiana Department of Financial Institutions. This agency is responsible for regulating payday lenders in the state and will investigate any complaints received.

Are there any organizations in Clarksburg, Indiana that can provide assistance with payday loan debt?

Yes, there are several organizations in Clarksburg, Indiana that can provide assistance with payday loan debt, including credit counseling agencies and legal aid organizations. These organizations can help you develop a repayment plan, negotiate with lenders, and explore other debt relief options.