Payday Loans in New Market, Indiana

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

Company nameAddressZip codePhone number
Old National Bank 3503 Paramount Dr, West Lafayette, IN 47906 +1 (765) 637 - 4660
Cash King 930 N Morton St, Franklin, IN 46131 +1 (317) 559 - 2275
Check Into Cash 1010 Coliseum Blvd E, Fort Wayne, IN 46805 +1 (260) 471 - 4640
Advance America 6077 Broadway, Merrillville, IN 46410 +1 (219) 884 - 1099
Springs Valley Bank & Trust Company 8482 IN-56, French Lick, IN 47432 +1 (800) 843 - 4947
Check n' Go 1921 E 53rd St, Anderson, IN 46013 +1 (765) 622 - 7777
Muncie Federal Credit Union 5400 Wheeling Ave, Muncie, IN 47304 +1 (765) 284 - 7667
Northwest Bank 1309 W Main St, Mitchell, IN 47446 +1 (812) 849 - 3813
HMF Capital Markets LLC 101 W Ohio St, Indianapolis, IN 46204 +1 (317) 684 - 2050
ProFed Credit Union 506 N Grandstaff Dr, Auburn, IN 46706 +1 (260) 925 - 1550

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in New Market, 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, Same Day Loans in Columbus, IN, Payday Loans in Elkhart, IN, Emergency Loan in Evansville, IN, Quick Loan in Fishers, IN and Short-term 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 New Market, IN.

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

47965, 47765

Are Payday Loans Legal In New Market, 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%

New Market, IN payday loan calculator

Payday Loans: A Comprehensive Guide for Residents of New Market, Indiana

If you’re a resident of New Market, Indiana, and you’re in need of quick cash, payday loans can be a helpful solution. These loans provide short-term financial relief for unexpected expenses, emergencies, or bills that are due before your next payday. However, before seeking a payday loan, it’s important to understand the basics, regulations, and risks involved.

What are payday loans?

Payday loans are short-term loans that typically must be repaid within 14 to 30 days. The loan amount usually ranges from $100 to $1,000, depending on your income and credit score. These loans are designed to be a quick solution for people in need of emergency cash. The application process is simple, and the loan amount is deposited into your bank account within a few hours or the next business day.

Legal Regulations in Indiana

  • Payday loans are legal in Indiana, but the state has regulations in place to protect borrowers.
  • The maximum loan amount in Indiana is $550 or 20% of the borrower’s gross monthly income, whichever is less.
  • The loan term must be a minimum of 14 days.
  • The finance charge is limited to 15% for the first $250, 13% for amounts between $250 and $400, and 10% for amounts between $400 and $550.
  • The Annual Percentage Rate (APR) for a 14-day loan of $100 is 390%.

It’s important to note that rollovers on payday loans are not allowed in Indiana. Borrowers cannot take out another loan to pay off the first loan. However, lenders are allowed to charge a $30 fee for any returned check or failed electronic transaction.

The Application Process

Applying for a payday loan in New Market, Indiana, is straightforward. The process typically includes:

  • Completing an online application form or visiting a payday loan store.
  • Providing personal information, including name, address, Social Security number, employment information, and bank account details.
  • Receiving a loan offer from the lender, which includes the loan amount, fees, repayment terms, and APR.
  • Agreeing to the terms and conditions of the loan by signing a contract.
  • Receiving the loan amount in your bank account, usually within 24 hours.

The Risks Involved

Payday loans can provide a quick fix for those in need of emergency cash. However, these loans also come with risks, including:

  • High interest rates and fees: Payday loans are notorious for their high fees and interest rates, which can trap borrowers in a cycle of debt.
  • Credit score impact: If you fail to repay the loan on time, it may negatively impact your credit score.
  • Legal consequences: If you default on a payday loan, the lender may take legal action against you.

Interesting Facts and Statistics

  • According to a report by the Consumer Financial Protection Bureau (CFPB), the average payday loan borrower takes out 10 loans per year and spends 199 days in debt.
  • The CFPB also reported that 80% of payday loans are rolled over or renewed, and the borrower ends up paying more in fees than the original loan amount.
  • In 2020, Indiana payday lenders issued more than 1.5 million loans, totaling over $550 million in loan volume.

Apply Now

If you’re considering a payday loan in New Market, Indiana, TheGuaranteedLoans is here to help. As a connector service, we can facilitate your connection with potential lenders and provide you with a loan offer that fits your needs. Apply now and get the cash you need, when you need it.

F.A.Q.

How do I repay my payday loan in New Market, Indiana?

in New Market, Indiana, payday loans must be repaid in full on the due date, which is typically the borrower's next payday. The lender will automatically withdraw the loan amount and fees from the borrower's checking account on the due date.

Are there any protections for borrowers who take out payday loans in New Market, Indiana?

Yes, in New Market, Indiana, payday lenders are required to provide borrowers with a written disclosure statement outlining the terms of the loan, including the loan amount, fees, and repayment schedule.