Payday Loans in Coal City, Indiana

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

Company nameAddressZip codePhone number
Farmers State Bank 3840 E Bellefontaine Rd, Hamilton, IN 46742 +1 (260) 488 - 2116
Scottsburg Building & Loan 306 W McClain Ave, Scottsburg, IN 47170 +1 (812) 752 - 3230
Mariner Finance 1001 N State Rd 135 Ste. B5, Greenwood, IN 46142 +1 (317) 497 - 4033
World Finance 214 Dunes Plaza Suite 214A, Michigan City, IN 46360 +1 (219) 879 - 7365
Personal Finance Company 424 N State St, North Vernon, IN 47265 +1 (812) 346 - 5786
Fifth Third Bank & ATM 2320 W Illinois St, Evansville, IN 47712 +1 (812) 429 - 0621
Purdue Federal Credit Union 1551 Win Hentschel Blvd, West Lafayette, IN 47906 +1 (800) 627 - 3328
Top Payday Loans Elkhart 708 W Marion St, Elkhart, IN 46516
Farm Credit Mid-America 1963 W Mount Dr, Scottsburg, IN 47170 +1 (812) 752 - 2210
JCB 411 W Tipton St, Seymour, IN 47274

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Coal City, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Kokomo, IN, No Credit Check Loans in Lafayette, IN, Payday Loans in Merrillville, IN, Payday Loans in Michigan City, IN, Emergency Loan in Mishawaka, IN, Quick Loan in Muncie, IN, Guaranteed Loans in New Albany, IN and Payday Loans in Noblesville, 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 Coal City, IN.

Are Payday Loans Legal In Coal City, 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%

Coal City, IN payday loan calculator

Understanding Payday Loans in Coal City, Indiana

Payday loans are short-term loans designed to assist individuals in meeting their financial obligations until their next paycheck arrives. These loans are ideal for people with unexpected expenses, such as medical bills, car repairs, or home repairs. Payday loans are prevalent in Coal City, Indiana, and TheGuaranteedLoans can connect you with potential lenders willing to help you.

The state of Indiana has the legal backing for payday loans, but there are state regulations that lenders must follow. This article focuses on payday loans in Coal City, Indiana, and the legal requirements set by the Indiana State Government.

How Payday Loans Work in Coal City, Indiana

The process of obtaining a payday loan in Coal City, Indiana is straightforward and easy. First, you need to find a lender through TheGuaranteedLoans website. Once you find a lender of your choice, the process is as follows:

  • Apply for a loan: You will fill out an online form that typically requires you to disclose your personal information such as your name, address, phone number, email address, and employment status, among others.
  • Get approval: If you qualify for the loan, the lender will provide you with the loan details, such as the loan amount, interest rates, fees, and the repayment period.
  • Receive Funds: After agreeing to the repayment terms, the lender will transfer the loan amount to your bank account within 24 hours.
  • Repay your loan: It would be best to repay the loan as soon as possible to avoid late fees and penalties. The loan repayment can be done automatically from your bank account or manually through different modes of payments supported by the lender.

Indiana State Regulations for Payday Loans

Indiana State Government regulates payday loans, and lenders must comply with the set rules and regulations. According to the laws of Indiana state, here are some of the crucial loan terms to keep in mind when applying for a payday loan.

  • Maximum Loan Amount: $550
  • Loan Duration: A minimum of 14 days and a maximum of 30 days
  • Finance Charge: 15% on the loan amount
  • Annual Percentage Rate: The APR for a 14-day $100 loan is 390%

The state of Indiana also prohibits lenders from rolling over a loan. Rolling over refers to extending the loan term by paying a fee and the interest rate. If you cannot pay back the loan on the agreed terms, the lender may offer an extension period for payment. However, you should know that the terms of the extension, including interest rates, may not be profitable to you. You should, therefore, try to avoid an extension as much as possible.

Advantages of Payday Loans in Coal City, Indiana

  • Quick and convenient: Payday loans are processed quickly, and the application process is straightforward, making it a popular option for emergencies and unexpected expenses
  • No credit checks: Unlike conventional loans, payday loans may not require a credit check. If you have a poor credit score, a payday loan may be an ideal option.
  • No collateral: Typically, collateral is not required to obtain a payday loan. Your loan eligibility will, however, depend on your income and creditworthiness.

The Risks of Payday Loans in Coal City, Indiana

As with any other loan, payday loans in Coal City, Indiana, come with a risk. The primary risk is high-interest rates and additional fees, making it easy to fall in a debt cycle. If you cannot pay back a payday loan on time, the interest rates and fees may continue to accumulate, making it difficult for you to pay off the loan. You should also be wary of lenders who offer to rollover the loan as this may only lead to additional interest and fees, which can be a burden.

Apply Now for a Payday Loan in Coal City, Indiana

At TheGuaranteedLoans, we strive to connect you with lenders quickly and efficiently. When you apply for a payday loan through TheGuaranteedLoans, we will connect you with potential lenders who can provide you with a loan, under their terms and conditions. Please note, however, that we are not a lender, but rather a connector service. By applying for a loan through our website, you can reach out to various trusted lenders in Coal City, Indiana.

Don’t let unexpected expenses leave you financially drained. Apply for a payday loan now and clear your financial obligations with ease!

Interesting Facts about Payday Loans in Coal City, Indiana

  • Payday loans in Indiana can be given up to $550.
  • The Annual Percentage Rate (APR) for payday loans in Indiana is 390%.
  • Reports show that payday lenders charge over $70 million in fees each year in Indiana alone.
  • The typical payday loan term is two weeks up to one month.
  • The State of Indiana passed payday loan legislation in 2002, making it one of the states where payday loans are legal.

Apply Now through TheGuaranteedLoans

Fill out an online application to explore your options for payday loans in Coal City, Indiana. You will need to provide some basic information to get started, and we will connect you with lenders who could offer you a loan. Remember, applying for a loan through TheGuaranteedLoans is free and will not affect your credit score.

Get the help you need to deal with financial emergencies today by applying for a payday loan through TheGuaranteedLoans.

F.A.Q.

Can I be sued or have my wages garnished if I fail to repay my payday loan in Coal City, Indiana?

Yes, if a borrower fails to repay a payday loan in Coal City, Indiana, the lender may choose to pursue legal action, including suing the borrower and garnishing their wages. It is important for borrowers to only take out payday loans if they are confident they will be able to repay them on time.

What are the consumer protections for payday loan borrowers in Coal City, Indiana?

Indiana has several consumer protections in place for payday loan borrowers, including a limit on the number of loans that can be taken out at one time, a maximum loan amount of $500, and a requirement for lenders to provide clear and concise disclosure of all fees and terms. Borrowers also have the right to dispute any charges or fees that they believe are unfair or inaccurate.