Payday Loans in Comstock, Michigan

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

Company nameAddressZip codePhone number
GreenStone Farm Credit Services 11020 Gratiot Rd, Saginaw, MI 48609 +1 (989) 781 - 4251
Citizens National Bank 580 S Nicolet St, Mackinaw City, MI 49701 +1 (231) 436 - 5271
Michigan Educational Credit Union 9200 Haggerty Rd, Plymouth, MI 48170 +1 (734) 455 - 9200
Old National Bank 7200 Dexter Ann Arbor Rd, Dexter, MI 48130 +1 (734) 792 - 9300
Wexford Community Credit Union 1021 N Mitchell St, Cadillac, MI 49601 +1 (231) 775 - 2081
Flagstar Bank 516 N Lincoln Rd, Escanaba, MI 49829 +1 (906) 789 - 5261
Frankenmuth Credit Union Birch Run Main Branch 8131 Main St, Birch Run, MI 48415 +1 (989) 497 - 1600
Olmsted and Mulhall - Wedbush Securities 100 W Crosstown Pkwy, Kalamazoo, MI 49001 +1 (269) 342 - 0111
TCF Bank 3350 Fairlane Dr, Allen Park, MI 48101 +1 (800) 823 - 2265
Zeal Credit Union 4125 Oakwood Blvd, Melvindale, MI 48122 +1 (800) 321 - 8570

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Comstock, MI, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Portage, MI, Payday Loan for Roseville, MI, Same Day Loans in Royal Oak, MI, Payday Loans in Saginaw, MI, Payday Loans in Saint Clair Shores, MI, 24-Hour Loan in Southfield, MI, Payday Loans in Sterling Heights, MI and Payday Loans in Taylor, 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 Comstock, MI.

Beautiful sights of Comstock, MI

Are Payday Loans Legal In Comstock, 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)

Comstock, MI payday loan calculator

Payday Loans in Comstock, Michigan: A Comprehensive Guide

If you find yourself in a financial bind and need quick cash, you may be considering a payday loan. Payday loans can provide emergency funds when you need them most, but there are important factors to consider before applying. In this comprehensive guide, we’ll cover everything you need to know about payday loans in Comstock, Michigan.

Understanding Payday Loans

Payday loans are short-term loans designed to provide emergency funds to borrowers until their next paycheck. These loans are typically paid back in full on the borrower’s next payday, usually within two weeks to a month.

Payday loans can be attractive to those with poor credit scores or low incomes, as lenders typically do not require a credit check or long-term income verification. However, these loans can come with high interest rates and fees, making them a potentially risky option for borrowers.

Payday Loans in Comstock, Michigan

Payday loans are legal in Michigan with certain regulations in place for lenders. In Comstock, Michigan, payday lenders must be licensed by the Michigan Department of Insurance and Financial Services. This ensures that lenders are operating within state law and that borrowers are protected from predatory lending practices.

The maximum amount a borrower can take out in a payday loan in Michigan is $600, with a maximum term of 31 days. Lenders can charge up to 15% of the loan amount in fees, with an APR of up to 390%. Borrowers are only allowed to have one outstanding payday loan at a time and must wait 24 hours after paying off a loan before taking out another one.

Pros and Cons of Payday Loans

Before taking out a payday loan, it’s important to weigh the pros and cons of this type of borrowing.

  • Pros:
    • Quick and easy access to cash
    • No credit check or long-term income verification required
    • May be more accessible than other types of loans for those with poor credit scores or low incomes
  • Cons:
    • High interest rates and fees
    • May lead to a cycle of debt if not paid back on time
    • Can negatively impact credit score if not paid back on time

Interesting Facts and Statistics

  • The average payday loan in Michigan is $350
  • Michigan payday lenders made $103.5 million in fees in 2016
  • In Michigan, over 70% of payday loan borrowers take out seven or more loans per year

Applying for a Payday Loan

If you’ve weighed the pros and cons and have decided to apply for a payday loan, it’s important to do so responsibly. Be sure to shop around and compare lenders to find the best rates and terms.

To apply for a payday loan in Comstock, Michigan, visit TheGuaranteedLoans website and fill out our online application. As a connector service, we work with a network of potential lenders to help you find the best loan option for your needs. Remember to only borrow what you can afford to pay back and to pay back the loan on time to avoid damaging your credit score or getting caught in a cycle of debt.

In Conclusion

When considering a payday loan in Comstock, Michigan, it’s important to do your research and weigh the pros and cons carefully. Payday loans can be a helpful option for those in need of emergency funds, but they also come with potential risks and drawbacks. If you do decide to take out a payday loan, be sure to only borrow what you can afford to pay back and to pay back the loan on time to avoid further financial stress.

F.A.Q.

Can I file a complaint against a payday lender in Comstock, Michigan?

Yes, you can file a complaint against a payday lender in Comstock, Michigan if you believe they have violated the state's payday loan regulations. You can contact the Michigan Department of Insurance and Financial Services to file a complaint.

Are there any alternatives to payday loans in Comstock, Michigan?

Yes, there are alternatives to payday loans in Comstock, Michigan, such as borrowing from friends or family, applying for a small personal loan from a bank or credit union, or seeking assistance from social services programs. It is important to consider all options before taking out a payday loan.