Payday Loans in Milford, Indiana

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

Company nameAddressZip codePhone number
Advance America 1304 N. Cass Street, Wabash, IN 46992 +1 (260) 569 - 9369
Cash Today 3600 E Main St #1, Richmond, IN 47374 +1 (765) 939 - 2121
Horizon Bank 2102 E Center St, Warsaw, IN 46580 +1 (574) 269 - 4077
Northwest Bank 1301 N Walnut St, Bloomington, IN 47404 +1 (812) 334 - 9905
Fox Purlee, Wealth Management - Cetera Advisor Networks Inc, Member FINRA/SIPC 107 N Main St, Salem, IN 47167 +1 (812) 883 - 8668
Cash America Pawn 6817 Indianapolis Blvd, Hammond, IN 46324 +1 (219) 852 - 7051
MoneyGram 3213 S Madison St, Muncie, IN 47302 +1 (765) 289 - 7000
First Financial Bank 2611 Highway Ave, Highland, IN 46322 +1 (219) 513 - 5712
First Harrison Bank 391 Old Capital Ridge NE, Corydon, IN 47112 +1 (812) 738 - 9099
Check Into Cash 6042 East 82nd Street, Indianapolis, IN 46250 +1 (317) 596 - 0925

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Milford, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Anderson, IN, Payday Loans in Bloomington, IN, Bad Credit Loans in Carmel, IN, Payday Loans in Columbus, IN, Payday Loans in Elkhart, IN, Payday Loans in Evansville, IN, Same Day Loans in Fishers, IN and Same Day Loans in Fort Wayne, 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 Milford, IN.

Beautiful sights of Milford, IN

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

46542

Are Payday Loans Legal In Milford, 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%

Milford, IN payday loan calculator

Payday Loans in Milford, Indiana: A Comprehensive Guide

In Indiana, payday loans are legal. If you are in a financial crunch and need fast cash, a payday loan might be just what you need. This article will provide you with all the information you need to know about payday loans in Milford, Indiana.

What are payday loans?

Payday loans are a type of short-term loan that allows borrowers to borrow a small amount of money to cover unexpected expenses. These loans are typically due on the borrower’s next payday, hence the name “payday loans”.

Payday loans are different from traditional loans in that they are usually for smaller amounts of money and have a higher interest rate. However, they are convenient for those who need cash quickly.

How do payday loans work in Milford, Indiana?

In Indiana, the maximum amount you can borrow with a payday loan is $550. The loan term cannot exceed 14 days, and the finance charge cannot exceed 15% of the amount borrowed. This means that if you borrow $100, the finance charge cannot exceed $15.

Under Indiana law, lenders must also disclose the full cost of the loan, including the annual percentage rate (APR). The APR measures the cost of a loan over a year and includes both the interest rate and any fees associated with the loan.

What are the requirements for getting a payday loan in Milford, Indiana?

The requirements for getting a payday loan in Milford, Indiana are:

  • You must be at least 18 years old
  • You must have a valid ID
  • You must have a checking account
  • You must have proof of income

Note that lenders may have additional requirements as well.

What are the benefits of payday loans?

Payday loans can be a helpful tool for those in need of quick cash. They can help cover unexpected expenses, such as car repairs or medical bills. Additionally, payday loans can be easier to obtain than traditional loans, as they typically require less documentation and have looser credit requirements.

What are the risks of payday loans?

While payday loans can be helpful in certain situations, they come with risks as well. The main risk of payday loans is the high-interest rate. This can lead to a debt cycle where borrowers take out one payday loan after another to cover the high-interest rates of previous loans.

Additionally, lenders may charge additional fees and penalties for late or missed payments, which can add up quickly.

Apply now

If you need a payday loan in Milford, Indiana, TheGuaranteedLoans can help. We are not a direct lender, but we connect borrowers with potential lenders. To get started, fill out an online application on our website. Our process is quick, easy, and secure.

Interesting facts and statistics about payday loans in Milford, Indiana

  • In 2019, the average payday loan amount in Indiana was $382.
  • Indiana has the second-highest payday loan usage rate in the country, with 20% of adults having used a payday loan in the past five years.
  • A study by the Indiana Institute for Working Families found that the average borrower in Indiana takes out 10 payday loans per year.

Remember, payday loans should be used as a last resort and only for emergencies. It’s important to understand the terms and risks associated with payday loans before borrowing.

F.A.Q.

Are there any protections for borrowers in Milford, 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 Milford, Indiana?

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