Payday Loans in Bedford, Michigan

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No payday loan companies in Bedford, MI. Consider companies in other cities:

Company nameAddressZip codePhone number
Kent County Credit Union 8170, 14111 White Creek Ave NE 1, Cedar Springs, MI 49319 +1 (616) 696 - 3650
Check Into Cash 30218 Plymouth Rd, Livonia, MI 48150 +1 (734) 261 - 7812
Charge Card Funding 729 Axtell St, Kalamazoo, MI 49008 +1 (269) 533 - 4795
Soo Co-op Credit Union 12214 W Lakeshore Dr, Brimley, MI 49715 +1 (906) 632 - 5358
First State Bank 124 S Phelps St, Decatur, MI 49045 +1 (269) 423 - 7014
Northern Abstract & Title Agency 212 River St, Alpena, MI 49707 +1 (989) 354 - 3880
check n go, Check n Go Store Directory 545 E Grand Blanc Rd Suite 3, Grand Blanc, MI 48439 +1 (810) 953 - 9946
Fifth Third Bank & ATM 55 W Main St, Fremont, MI 49412 +1 (231) 924 - 3400
Prudential Joseph Bennecoff Life Insurance & Annuities 415 Cass St, Traverse City, MI 49684 +1 (231) 922 - 5077
A Check Cashing Store & More 405 N Clippert St, Lansing, MI 48912 +1 (517) 337 - 6060

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bedford, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Dearborn, MI, Payday Loans in Dearborn Heights, MI, Payday Loans in Detroit, MI, Payday Loans in East Lansing, MI, Bad Credit Loans in Eastpointe, MI, Payday Loans in Flint, MI, No Credit Check Loans in Grand Rapids, MI and Emergency Loan in Holland, MI. 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 Bedford, MI.

Beautiful sights of Bedford, MI

Payday Loans Available in Bedford, MI By The Following ZIP Codes:

49020

Are Payday Loans Legal In Bedford, Michigan?

Loan Rates and Fees, Laws and Regulations in Michigan.

Michigan Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)369
Maximum Loan Amount$600
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges15%-11% (depending on the number of $100 transactions)

Bedford, MI payday loan calculator

Payday Loans in Bedford, Michigan: A Comprehensive Guide

Payday loans, also known as cash advances or payday advances, have been around for decades. This type of loan allows borrowers to access money quickly to cover unexpected expenses until their next payday. Despite their convenience, payday loans have attracted criticism due to their high-interest rates and potential to trap borrowers in unending debt cycles.

What are Payday Loans?

Payday loans are a type of short-term loan designed to give you access to quick cash when you need it. They’re typically small-dollar amounts – usually a few hundred dollars. These loans are intended to be repaid on the borrower’s next payday, usually within two to four weeks.

To apply for a payday loan, you’ll need to provide the lender with proof of income and a checking account. Once approved, the lender will deposit the loan amount into your account, and you’ll be expected to repay the loan on your next payday. If you’re unable to repay the loan in full, you can roll it over for another two weeks by paying an additional fee.

Payday Loan Regulations in Michigan

Payday loans are legal in Michigan. The state has various laws in place to protect borrowers and ensure that lenders operate within the law. Michigan limits the amount you can borrow to $600 per loan from a single lender and allows a maximum of two loans per borrower at any one time. The state also requires lenders to be licensed and registered with the Department of Insurance and Financial Services.

The Pros and Cons of Payday Loans

Before you take out a payday loan, it’s important to weigh the pros and cons to determine if it’s the right option for you.

Pros:

  • Quick access to cash when you need it the most
  • Simplified application process that doesn’t require a credit check
  • Available to people with bad credit or no credit history

Cons:

  • High-interest rates and fees that can trap you in a cycle of debt
  • Short repayment terms that can be difficult to meet
  • Potential for predatory lending practices from unscrupulous lenders
  • May not solve long-term financial problems

Interesting Facts and Statistics About Payday Loans in Bedford, Michigan

  • Michigan has a higher payday loan usage rate than the national average, with 8% of its population having taken out a payday loan in the past year.
  • The average payday loan amount in Michigan is $366.
  • Michigan’s payday loan industry generates over $94 million in annual revenue.

Apply Now for a Payday Loan in Bedford, Michigan

If you need quick cash to cover unexpected expenses, you can apply for a payday loan on TheGuaranteedLoans website. TheGuaranteedLoans is a reliable connector service that helps borrowers connect with potential lenders.

We’ll help you find the right lender for your needs, and you’ll be able to fill out the application form directly on our website. The application process is quick, easy, and confidential. Remember, payday loans are a short-term solution designed to help you in a financial pinch. Before you apply, consider the pros and cons and ensure that you can afford to repay the loan within the given time frame.

F.A.Q.

Can I be charged late fees for not paying my payday loan in Bedford, Michigan on time?

Yes, you can be charged late fees for not paying your payday loan in Bedford, Michigan on time. The amount of the late fee will depend on the terms of your loan agreement and the lender.

Can my wages be garnished if I do not repay my payday loan in Bedford, Michigan?

In most cases, your wages cannot be garnished for not repaying a payday loan in Bedford, Michigan. However, if you default on your loan and the lender obtains a judgment against you, they may be able to garnish your wages to collect the debt.