Payday Loans in West Bloomfield, Michigan

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

Company nameAddressZip codePhone number
Ace Check Cashing 20011 Plymouth Rd, Detroit, MI 48228 +1 (313) 273 - 1111
Sunrise Family Credit Union 3887 S Huron Rd, Standish, MI 48658 +1 (989) 846 - 9750
Check `n Go 13321 W 10 Mile Rd, Oak Park, MI 48237 +1 (248) 582 - 9470
Cash Fast 203 W Mitchell St, Petoskey, MI 49770 +1 (231) 439 - 0920
Embers Credit Union 487 US-41, Negaunee, MI 49866 +1 (906) 475 - 4422
Huntington Bank 200 W Chisholm St, Alpena, MI 49707 +1 (989) 354 - 0337
Shelby State Bank 180 N Division Ave, Hesperia, MI 49421 +1 (231) 854 - 6455
Approved Cash Gold Buyers 520 Butternut Dr, Holland, MI 49424 +1 (972) 620 - 1825
Check Into Cash 1357 Mall Drive, Benton Harbor, MI 49022 +1 (269) 926 - 0167
Independent Bank 3500 W Vienna Rd, Clio, MI 48420 +1 (810) 687 - 6710

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in West Bloomfield, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Novi, MI, Payday Loan Without a Credit Check in Pontiac, MI, Payday Loans in Portage, MI, Payday Loans in Roseville, MI, Payday Loans in Royal Oak, MI, Payday Loans in Saginaw, MI, 24-Hour Loan in Saint Clair Shores, MI and Bad Credit Loans in Southfield, 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 West Bloomfield, MI.

Beautiful sights of West Bloomfield, MI

Are Payday Loans Legal In West Bloomfield, 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)

West Bloomfield, MI payday loan calculator

Payday Loans in West Bloomfield, Michigan

Payday loans are a quick and easy way to get extra cash when you need it. For people living in West Bloomfield, Michigan, payday loans are a legal and safe option for emergency funding. In this article, we will explore everything you need to know about payday loans in West Bloomfield.

What are Payday Loans?

Payday loans are short-term loans designed to help people cover emergency expenses. They are typically due on the borrower’s next payday. Payday loans are usually for small amounts of money, ranging from $100 to $1500.

Payday loans are usually unsecured loans, which means that they do not require collateral. Instead, lenders use the borrower’s income as proof that they will be able to repay the loan. This makes payday loans accessible to people with low credit scores or no credit history.

How to Get Payday Loans in West Bloomfield, Michigan

In West Bloomfield, Michigan, payday loans are available both online and in brick-and-mortar stores. To apply for a payday loan, you need to provide proof of income, a valid ID, and a checking account.

To get a payday loan in West Bloomfield, you have to fulfill the following conditions:

  • You must be at least 18 years old
  • You must have a steady income
  • You must be a legal resident of West Bloomfield, Michigan
  • You must have an active checking account

Once you have applied for a payday loan, the lender will evaluate your application and determine whether to approve it. If you are approved, you will receive the funds in your checking account within one business day.

Payday Loan APR in West Bloomfield, Michigan

The Annual Percentage Rate (APR) is the interest rate that lenders charge on payday loans. In West Bloomfield, Michigan, payday loan APRs are regulated by law. The maximum APR for payday loans in Michigan is 391%. This means that if you borrow $100, you will have to pay back $391 in a year.

It is important to note that payday loans are meant to be short-term loans. If you roll over your payday loan, you will have to pay additional fees and interest charges. This can result in a cycle of debt that is difficult to break.

Interesting Facts about Payday Loans in West Bloomfield, Michigan

  • Michigan law limits the amount of money you can borrow with a payday loan to $600. This is to protect consumers from accumulating too much debt.
  • The average payday loan borrower in Michigan takes out eight loans per year.
  • According to a Pew Charitable Trust study, the average payday loan borrower spends $520 per year in fees for loans of $375.

Apply Now for a Payday Loan in West Bloomfield, Michigan

If you need emergency funding, you can apply for a payday loan on TheGuaranteedLoans website. We are a connector service that connects borrowers with potential lenders. Our online application process is quick and easy, and you can get the funds you need within one business day.

Remember, payday loans are meant to be short-term loans. If you are struggling to repay your payday loan, contact your lender to work out a repayment plan. Rolling over your payday loan can lead to a cycle of debt that is difficult to break.

Conclusion

Payday loans are a legal and safe option for emergency funding in West Bloomfield, Michigan. Remember to borrow only what you need and only if you can afford to repay it on time. If you need a payday loan in West Bloomfield, Michigan, apply now on TheGuaranteedLoans website to connect with potential lenders.

F.A.Q.

What is the maximum interest rate that a payday lender can charge in West Bloomfield, Michigan?

in West Bloomfield, Michigan, the maximum interest rate that a payday lender can charge is 15% per $100 borrowed. This means that for a loan of $100, the maximum interest charged would be $15.

What are some alternatives to payday loans in West Bloomfield, Michigan?

There are several alternatives to payday loans in West Bloomfield, Michigan, including borrowing from friends or family, using a credit card or line of credit, or seeking assistance from a non-profit organization or government agency. Some employers also offer short-term, low-interest loans to their employees as a way to help them through difficult financial times.