Payday Loans in Jerome, Michigan

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

Company nameAddressZip codePhone number
Cash Connection 37125 Gratiot Ave, Charter Twp of Clinton, MI 48036 +1 (586) 465 - 1459
United Federal Credit Union - Niles South 2100 S 11th St, Niles, MI 49120 +1 (888) 982 - 1400
Security Credit Union 1675 N Lapeer Rd, Lapeer, MI 48446 +1 (810) 235 - 2322
Huntington Bank 7157 E Saginaw St, East Lansing, MI 48823 +1 (517) 339 - 3650
Check `n Go G-3017 South Dort Hwy, Burton, MI 48529 +1 (810) 715 - 5555
Atkins Insurance Agency Inc 3149 Main St, Marlette, MI 48453 +1 (989) 635 - 7496
Thrivent 3794 N 48th Ave, Mears, MI 49436 +1 (231) 936 - 6111
Century Bank and Trust- Coldwater Main Office 100 W Chicago St, Coldwater, MI 49036 +1 (517) 278 - 1500
Check Into Cash 205 W Carleton Rd, Hillsdale, MI 49242 +1 (517) 437 - 4668
Mbank Loan Office 309 Cass St, Traverse City, MI 49684 +1 (231) 421 - 8901

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Jerome, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in East Lansing, MI, 24-Hour Loan in Eastpointe, MI, Payday Loan for Flint, MI, Payday Loans in Grand Rapids, MI, Payday Loan Without a Credit Check in Holland, MI, Payday Loans in Jackson, MI, No Credit Check Loans in Kalamazoo, MI and Payday Loans in Lansing, 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 Jerome, MI.

Beautiful sights of Jerome, MI

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

49249

Are Payday Loans Legal In Jerome, 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)

Jerome, MI payday loan calculator

Introduction

Payday loans are a popular way for people to get quick cash when they need it most. In Michigan, these types of loans are legal, and many people in Jerome, Michigan, have used them to solve financial problems. However, before considering taking out a payday loan, it’s important to fully understand how they work and what risks are involved.

What are Payday Loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. They are designed to help people who need quick cash to cover unexpected expenses. These loans are usually for small amounts, usually under $500, and are meant to be repaid in a matter of weeks.

Payday loans are different from other types of loans in that they don’t require collateral. Instead, borrowers are required to provide proof of income and a post-dated check or authorization to withdraw the funds from their bank account.

How do Payday Loans Work?

When someone takes out a payday loan, they will typically provide the lender with a post-dated check or permission to withdraw the funds from their bank account on their next payday. The lender will then give the borrower the agreed-upon amount, minus a fee. On the borrower’s next payday, the lender will cash the check or withdraw the funds from the borrower’s bank account to repay the loan.

The fees for payday loans in Michigan are regulated by the state and cannot exceed 15% of the amount borrowed. For example, if someone takes out a $300 payday loan, the maximum fee the lender can charge is $45.

The Risks of Payday Loans

While payday loans can be a quick and convenient way to get cash when you need it, there are some risks involved. One of the biggest risks is that these loans often come with high fees. In addition to the maximum 15% fee, lenders may also charge additional fees and interest if the loan is not repaid on time.

Another risk of payday loans is that they can be difficult to repay. Many borrowers end up taking out additional loans to cover the fees and interest on their existing loans, leading to a cycle of debt that can be hard to break.

Interesting Facts and Statistics about Payday Loans in Jerome, Michigan

  • The average payday loan amount in Michigan is $370
  • There are over 550 payday loan stores in Michigan
  • In 2019, Michigan borrowers took out more than 1.6 million payday loans
  • The average interest rate for a payday loan in Michigan is 369%

Apply Now

If you’re considering a payday loan in Jerome, Michigan, TheGuaranteedLoans can help connect you with potential lenders. We are a customer connector service and not a direct lender, and we work with a network of reputable lenders to help you find the best loan for your needs.

Our online application process is quick and easy, and we will do our best to get you connected with a lender as soon as possible. So if you’re in need of quick cash, just fill out our online application and see how we can help.

Conclusion

Payday loans can be a helpful way for people to get quick cash when they need it most. However, it’s important to fully understand how these loans work and what the risks are before taking one out. By doing your research and working with a reputable lender, you can make an informed decision and get the cash you need without putting yourself in a difficult financial situation.

F.A.Q.

Can I file for bankruptcy to discharge my payday loan debt in Jerome, Michigan?

Yes, you may be able to file for bankruptcy to discharge your payday loan debt in Jerome, Michigan, depending on your specific circumstances. It is recommended to consult with a bankruptcy attorney to determine the best course of action.

What happens if I default on my payday loan in Jerome, Michigan?

If you default on your payday loan in Jerome, Michigan, the lender may choose to pursue collections actions against you, such as garnishing your wages or seizing your assets.