Payday Loans in Idaville, Indiana

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

Company nameAddressZip codePhone number
Pay Day USA 607 S Main St, Salem, IN 47167 +1 (812) 896 - 1837
First Financial Bank 630 N Central Ave, Connersville, IN 47331 +1 (765) 827 - 5320
Act Enterprises Inc 1635 W 3rd St, Bloomington, IN 47404 +1 (812) 336 - 5445
Eagle Finance 1711 W 3rd St, Bloomington, IN 47404 +1 (812) 650 - 7020
Lending Hand Inc - Payday Loans 6508 US-6, Portage, IN 46368 +1 (219) 763 - 9933
Check Into Cash 3646 E Main St, Richmond, IN 47374 +1 (765) 965 - 9653
Citizens State Bank 110 S Main St, Montpelier, IN 47359 +1 (765) 728 - 2411
First Financial Bank 11 S Meridian St Suite 101, Indianapolis, IN 46204 +1 (317) 974 - 3741
Woodforest National Bank 9500 E US Hwy 36, Avon, IN 46123 +1 (317) 209 - 1904
Raymond James & Associates 1876 Hart St, Vincennes, IN 47591 +1 (812) 882 - 0253

Payday Loan Companies in Nearby Cities

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

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

47950

Are Payday Loans Legal In Idaville, 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%

Idaville, IN payday loan calculator

Understanding Payday Loans in Idaville, Indiana: A Comprehensive Guide

Payday loans are a form of short-term lending that has grown in popularity in recent years. They are designed to help people who need quick cash to cover unexpected expenses. In Idaville, Indiana, payday loans are legal as long as the lenders comply with certain regulations.

How Do Payday Loans Work?

A payday loan is typically a small, unsecured loan that is due on the borrower’s next payday. The process is relatively simple: borrowers apply for the loan, providing proof of income and identification, and the lender approves or denies the application. If approved, the borrower receives the loan amount, and it is due on their next payday, along with interest and any fees.

The loan terms vary depending on the lender and the borrower’s income. In general, payday loans in Indiana are limited to a maximum of $550, and the term cannot exceed two weeks.

The Cost of Payday Loans in Idaville, Indiana

The cost of a payday loan in Idaville depends on several factors, including the amount borrowed, the interest rate, and any fees charged by the lender. According to state regulations, lenders are allowed to charge up to 15% of the loan amount as a finance charge.

For example, if a borrower were to take out a $300 payday loan with a two-week term, the maximum finance charge would be $45, and the total amount due on their next payday would be $345.

It’s important to note that some lenders may also charge additional fees, such as origination fees or late fees, which can add to the overall cost of the loan. Borrowers should carefully read and understand all loan terms before accepting a payday loan.

Benefits of Payday Loans

Despite their high cost, payday loans can provide some benefits for borrowers. For one, they are typically easy to obtain, even for those with poor credit. Additionally, payday loans can be useful for covering unexpected expenses, such as car repairs or medical bills, when traditional lending options may not be available.

Another benefit of payday loans is the quick turnaround time. Borrowers can typically receive their loan funds within one business day, making them a useful option for those who need cash quickly.

Risks of Payday Loans

While payday loans can provide some benefits, they also come with risks that borrowers should be aware of. The most significant risk is the high cost of borrowing, which can trap borrowers in a cycle of debt.

Because payday loans are due on the borrower’s next payday, they can be difficult to pay off in full and still have enough money to cover other expenses. This can lead to borrowers taking out additional loans to cover the first loan, resulting in a cycle of debt with high interest rates and fees.

Additionally, some lenders may engage in predatory lending practices, such as charging excessive fees or interest rates, or making loans to borrowers who cannot afford to repay them. Borrowers should carefully research lenders and read all loan terms before accepting a payday loan.

Interesting Facts About Payday Loans in Idaville, Indiana

  • In 2018, there were an estimated 354 payday lending storefronts in Indiana.
  • Between 2016 and 2018, Indiana residents took out more than 1 million payday loans, totaling over $366 million.
  • According to a report by the Consumer Financial Protection Bureau, the average payday loan borrower in Indiana takes out 10 payday loans per year, with a typical loan size of $350.

Apply Now for a Payday Loan in Idaville, Indiana

If you find yourself in need of quick cash to cover unexpected expenses, you may want to consider applying for a payday loan in Idaville, Indiana.

TheGuaranteedLoans is a connector service that can help you find a lender who meets your needs. Our online application process is fast and easy, and we work with a network of trusted lenders who comply with all state regulations.

Remember, payday loans should be used responsibly and only for emergency expenses. If you are struggling with debt or other financial issues, there may be other options available to you. Consider speaking with a financial advisor or credit counselor to explore your options.

F.A.Q.

Are there any protections for borrowers in Idaville, Indiana when it comes to payday loans?

Yes, Indiana state law has several protections in place for payday loan borrowers, including limits on fees and interest rates, and a prohibition on renewing or rolling over loans. Borrowers also have the right to dispute any errors on their loan agreements and seek legal recourse if they feel they have been treated unfairly by a lender.

Can I be charged with criminal charges for not repaying a payday loan in Idaville, Indiana?

No, Indiana state law prohibits lenders from pursuing criminal charges against borrowers who are unable to repay their payday loans.