Payday Loans in North Star, Michigan

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

Company nameAddressZip codePhone number
Michigan First Credit Union Inside Walmart 45555 Michigan Ave, Canton, MI 48188 +1 (800) 664 - 3828
Cash Store 1209 28th St SW, Grand Rapids, MI 49509 +1 (616) 534 - 3588
Cash On Demand 6404 S Westnedge Ave, Portage, MI 49002 +1 (269) 321 - 4100
First National Bank & Trust- Menominee 3805 10th St, Menominee, MI 49858 +1 (906) 863 - 7861
Chemical Bank 9650 N Greenville Rd, Lakeview, MI 48850 +1 (989) 352 - 7670
Honor Credit Union - Urbandale 1671 W Michigan Ave, Battle Creek, MI 49037 +1 (269) 441 - 4466
Calcite Credit Union 10514 N Michigan Ave, Posen, MI 49776 +1 (989) 766 - 8111
Isabella Bank 316 E Saginaw St, Breckenridge, MI 48615 +1 (989) 842 - 3191
Better Financial Alternatives 20300 Superior Rd 230, Taylor, MI 48180 +1 (734) 374 - 1930
Deep River Funding 1 State Rd, Newaygo, MI 49337 +1 (231) 245 - 8886

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in North Star, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Battle Creek, MI, Payday Loans in Bay City, MI, Payday Loans in Bedford, MI, Payday Loans in Dearborn, MI, Payday Loans in Dearborn Heights, MI, Payday Loans in Detroit, MI, Payday Loans in East Lansing, MI and Payday Loans in Eastpointe, 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 North Star, MI.

Beautiful sights of North Star, MI

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

48862

Are Payday Loans Legal In North Star, 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)

North Star, MI payday loan calculator

Everything You Need to Know About Payday Loans in North Star, Michigan

Payday loans provide a convenient solution to many financial struggles. These loans are often used for unexpected expenses or emergencies that require immediate attention. In North Star, Michigan, payday loans are legal. If you are considering a payday loan, it’s important to understand the regulations and requirements in your area.

In this article, we’ll explore the ins and outs of payday loans in North Star, Michigan, and how to decide if it’s right for you.

What is a Payday Loan?

Payday loans are short-term loans that are meant to be paid back within a few weeks. The borrower typically writes a post-dated check or authorizes an electronic debit for the loan amount plus interest and any additional fees. On the due date, the lender cashes the check or debits the borrower’s account to receive payment.

It’s important to understand that payday loans come with high interest rates and fees. The annual percentage rate (APR) for a typical payday loan can range from 391% to more than 500%. Because of this, payday loans should only be used for emergencies or unexpected expenses and not for long-term financial solutions.

Payday Loan Regulations in North Star, Michigan

In Michigan, payday loans are legal but come with strict regulations to protect consumers. These regulations include:

  • Maximum loan amount of $600 per lender
  • Maximum loan term of 31 days
  • Maximum finance charge of 15% of the first $100 and 14% of the second $100, and 13% of the third $100, and 12% of the fourth and fifth $100s
  • No rollovers or extensions are allowed
  • Borrowers can only have one payday loan at a time
  • Criminal charges cannot be filed against borrowers who fail to pay back their payday loans
  • All lenders must be licensed to operate in Michigan

These regulations ensure that borrowers are not taken advantage of by predatory lenders and that only licensed lenders can provide payday loans in North Star, Michigan.

How to Apply for a Payday Loan in North Star, Michigan

Applying for a payday loan in North Star, Michigan is a straightforward process. Here are the steps:

  1. Find a licensed payday lender in North Star, Michigan – TheGuaranteedLoans is a reliable connector service that can connect you with potential lenders.
  2. Submit an online application – The application will typically require your personal information, employment history, and bank account information.
  3. Get approved and receive funds – If approved, the lender will deposit the funds directly into your bank account within 24 hours or less.
  4. Repay the loan – On the due date, the lender will cash the check or debit your bank account for the loan amount plus fees and interest.

Is a Payday Loan Right for You?

Payday loans can be a valuable resource for those who need cash quickly. However, they can also be expensive and come with high interest rates and fees. It’s important to use payday loans responsibly and only for emergencies or unexpected expenses.

Before applying for a payday loan, consider your alternatives. If you have a credit card or a personal loan, they may offer better interest rates and terms. Additionally, you can ask friends or family for a loan or consider a side hustle to earn additional income.

Interesting Facts and Statistics About Payday Loans in North Star, Michigan

  • On average, Michigan borrowers take out eight payday loans per year.
  • The average payday loan amount in Michigan is $375.
  • Payday lenders in Michigan made $103.5 million in fees in 2016.

Apply Now

At TheGuaranteedLoans, we are dedicated to helping you connect with potential payday lenders in North Star, Michigan. Fill out our online application today to get the funds you need quickly and easily. Remember that we are not a direct lender and do not make credit decisions. We simply connect you with potential lenders who may be able to meet your needs.

Overall, payday loans can be a valuable financial tool when used responsibly. Be sure to understand the regulations and requirements in North Star, Michigan and consider your alternatives before applying for a payday loan.

F.A.Q.

Can I renew or rollover my payday loan in North Star, Michigan?

No, payday loans in North Star, Michigan cannot be renewed or rolled over.

What happens if I can't pay back my payday loan in North Star, Michigan on time?

If you are unable to pay back your payday loan in North Star, Michigan on time, you may be charged additional fees and interest. You may also be subject to collection actions. It is important to contact your lender to discuss your options if you are unable to make a payment.