Payday Loans in Mass City, Michigan

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

Company nameAddressZip codePhone number
Raymond James Financial Services 5813 Red Arrow Hwy, Stevensville, MI 49127 +1 (269) 556 - 0768
mBank 350 S Main St 1953, Cheboygan, MI 49721 +1 (231) 627 - 9951
Huntington Bank 3900 US-10, Ludington, MI 49431 +1 (231) 907 - 4020
Union 14010 Rosa Parks Blvd, Detroit, MI 48238
Preferred Credit Union 7473 Storey Rd, Belding, MI 48809 +1 (616) 794 - 2505
Check Into Cash 793 South Wayne Road, Westland, MI 48186 +1 (734) 722 - 3050
Iron Mountain Kingsford Community Federal Credit Union-Main Branch Main Branch, 400 S Carpenter Ave, Kingsford, MI 49802 +1 (906) 774 - 6020
Flagstar Bank 1717 N W Ave, Jackson, MI 49202 +1 (517) 784 - 0153
Flagstar Bank 115 N Pine St, Gwinn, MI 49841 +1 (906) 464 - 5028
EZ Cash 2227 Hill Rd, Grand Blanc, MI 48439 +1 (810) 603 - 3990

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mass City, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Royal Oak, MI, Payday Loans in Saginaw, MI, Payday Loans in Saint Clair Shores, MI, Payday Loans in Southfield, MI, Payday Loans in Sterling Heights, MI, Bad Credit Loans in Taylor, MI, Payday Loans in Troy, MI and Payday Loans in Warren, 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 Mass City, MI.

Are Payday Loans Legal In Mass City, 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)

Mass City, MI payday loan calculator

Understanding Payday Loans in Mass City, Michigan

Payday loans are a popular financial resource among those in need of immediate cash. They are short-term loans that typically carry higher fees than traditional loans. Payday loans are available in most states, including Michigan.

In this article, we will provide you with a comprehensive guide to Payday loans in Mass City, Michigan. We will explore how they work, the laws surrounding payday loans in Michigan, and how to apply for them.

How Do Payday Loans Work?

The process of obtaining a payday loan is relatively easy and straightforward. After filling out an application, the lender will review the application and determine whether or not to approve it. If approved, the borrower will typically receive the funds within a day or two.

The repayment terms for payday loans are usually short. Many lenders require repayment, in full, by the next paycheck. Some lenders allow for more flexible repayment terms, but this will likely result in higher fees.

Payday Loan Laws in Michigan

Payday loans are legal in Michigan, but they are regulated by the Michigan Department of Insurance and Financial Services. The Michigan Legislature has also enacted several laws to protect consumers from predatory lending practices.

One such law is the Deferred Presentment Service Transactions Act (Act 244 of 2005). This law limits the fees that payday lenders can charge and requires them to be transparent about the loan terms.

The Act prohibits lenders from charging more than 15% of the amount borrowed in fees. It also limits borrowers to a maximum of one payday loan at a time and requires lenders to give borrowers a loan agreement outlining the terms of the loan.

Applying for a Payday Loan in Mass City, Michigan

If you are considering a payday loan in Mass City, Michigan, there are several important factors to consider. Here are some essential steps to follow:

  • Research Lenders: Research the lenders available in the area. Compare the fees, repayment terms, and customer reviews to determine the best option for your specific needs.
  • Gather Documentation: The lender will require specific documentation, such as proof of employment and income, to determine if you are eligible for the loan.
  • Complete the Application: Fill out the application carefully, ensuring that all information is accurate. Mistakes can result in delays or even denials of your application.
  • Receive Your Funds: If approved, you will receive the funds within a day or two of the application.
  • Repay the Loan: Ensure that you understand the repayment terms and due date of the loan. Make timely payments to avoid high fees or damage to your credit score.

Interesting Facts About Payday Loans in Mass City, Michigan

  • The average payday loan in Michigan is $350.
  • Michigan has more payday lenders than McDonald’s restaurants.
  • In Michigan, payday lenders can charge up to 400% APR on a loan.
  • The average borrower in Michigan takes out eight payday loans per year.

Apply Now

If you are in need of a payday loan in Mass City, Michigan, TheGuaranteedLoans can help. We are a connector service that can facilitate your connection with potential lenders. Simply fill out our online application, and we will match you with loan options that fit your specific needs. Remember, we are not a direct lender, and the loan terms and fees will vary depending on the lender.

Visit our website now to apply for your payday loan and get the money you need today.

F.A.Q.

Can I be arrested for not repaying my payday loan in Mass City, Michigan?

No, you cannot be arrested for not repaying your payday loan in Mass City, Michigan. However, the lender may choose to pursue legal action against you to recover the unpaid balance.

Is it illegal to take out a payday loan in Mass City, Michigan if I am already in debt?

No, it is not illegal to take out a payday loan in Mass City, Michigan if you are already in debt. However, it is important to carefully consider whether you will be able to repay the loan and avoid further financial difficulties.