Payday Loans in Albertson, North Carolina

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No payday loan companies in Albertson, NC. Consider companies in other cities:

Company nameAddressZip codePhone number
AgCarolina Farm Credit 101 Impact Blvd, Elizabeth City, NC 27909 +1 (252) 335 - 0582
First Horizon Bank 804 S New Hope Rd, Gastonia, NC 28054 +1 (704) 865 - 4202
Union Bank 978 US-1, Youngsville, NC 27596 +1 (919) 554 - 0834
State Employees' Credit Union 1131 N Glenn Ave, Siler City, NC 27344 +1 (919) 742 - 7644
Entegra Bank 498 E Main St, Sylva, NC 28779 +1 (828) 586 - 1000
PNC Bank 106 N Church St, Hertford, NC 27944 +1 (252) 426 - 2160
First Citizens Bank 306 Old Farm Rd S, Roanoke Rapids, NC 27870 +1 (252) 308 - 6000
Jackson Hewitt Tax Service 201 Montgomery Crossing, Biscoe, NC 27209 +1 (910) 428 - 7106
Jackson Hewitt Tax Service 104 S Kinston Blvd Unit 3, Pink Hill, NC 28572 +1 (252) 568 - 1042
Citizens One Home Loans - Drew Wright 6475 N Croatan Hwy 102, Kitty Hawk, NC 27949 +1 (252) 256 - 2018

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Albertson, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Goldsboro, NC, Emergency Loan in Greensboro, NC, Payday Loans in Greenville, NC, Payday Loans in Hickory, NC, Payday Loans in High Point, NC, Payday Loans in Holly Springs, NC, Payday Loan Companies in Huntersville, NC and Quick Loan in Indian Trail, NC. 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 Albertson, NC.

Beautiful sights of Albertson, NC

Are Payday Loans Legal In Albertson, North Carolina?

Payday Lending is Prohibited in North Carolina

North Carolina Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Albertson, NC payday loan calculator

Understanding Payday Loans in Albertson, North Carolina

Payday loans have become increasingly popular in recent years as a means for individuals to gain quick access to cash when they are in a financial bind. Unfortunately, payday loans are not legal in all states, including North Carolina. While these loans may seem like an attractive option, it’s important to understand the risks and pitfalls before entering into any financial agreement.

What are Payday Loans?

Payday loans are short-term loans that typically must be repaid in full on the borrower’s next payday. The loans are often marketed as a quick and easy way to obtain cash for emergency expenses or other immediate needs. However, the reality is that these loans often come with high fees and interest rates that can trap borrowers in a cycle of debt.

To obtain a payday loan, borrowers typically provide the lender with a post-dated check that covers the loan amount plus any fees or interest. If the borrower is unable to repay the loan on the due date, the lender may cash the check and charge additional fees and interest.

Payday Loan Laws in North Carolina

In North Carolina, payday loans are prohibited. The North Carolina General Statutes specifically prohibit any entity from making payday loans, including online lenders. While there are no payday loan storefronts in North Carolina, some online lenders may still attempt to offer loans to North Carolina residents. However, it’s important to note that these loans are illegal and should be avoided.

The Dangers of Payday Loans

While payday loans may seem like a quick and easy solution to financial difficulties, they can actually lead to more long-term financial problems. High fees and interest rates can quickly add up, resulting in borrowers owing more than they originally borrowed. This can create a cycle of debt that can be difficult to break free from.

Additionally, because payday loans typically require post-dated checks or access to a borrower’s bank account, lenders can often withdraw funds even if the borrower cannot afford it. This can lead to overdraft fees, bounced checks, and other financial difficulties.

Alternative Options for Borrowers in Albertson, North Carolina

While payday loans may not be an option in North Carolina, there are other resources available for individuals who need access to quick cash. Some options to consider include:

  • Personal loans: Personal loans from banks or credit unions may offer lower interest rates and more flexible repayment terms than payday loans.
  • Community assistance programs: Some charities, non-profits, and community organizations may offer emergency financial assistance or loans to those in need.
  • Credit counseling: Credit counseling services can help individuals develop a budget and explore other financial options.

Interesting Facts and Statistics about Payday Loans in Albertson, North Carolina:

  • Payday loans are illegal in North Carolina: The State of North Carolina has effectively banned payday loans, and it is illegal for lenders to operate storefront operations or offer loans online to residents of the state.
  • Payday loans trap borrowers in a debt cycle: According to the Consumer Financial Protection Bureau, the typical payday borrower takes out 10 loans per year and spends 199 days in debt. This suggests that many borrowers are unable to repay their loans on time and end up taking out additional loans to cover previous ones.
  • Credit counseling may be a helpful alternative: According to a study by the Pew Charitable Trusts, states that limit or prohibit payday lending see a decrease in payday loan usage and an increase in the use of credit counseling services.

Apply Now with TheGuaranteedLoans

If you are in need of emergency funds and reside in North Carolina, it’s important to explore all of your options. While payday loans are illegal in North Carolina, TheGuaranteedLoans can help you connect with lenders who may be able to offer alternative forms of financing. As a connector service, we work with a network of reputable lenders who can provide personal loans and other financial products. Fill out an application today to learn more about your options.

Please note that TheGuaranteedLoans is not a direct lender and cannot guarantee loan approval.

F.A.Q.

Where can I get more information about payday loans in Albertson, North Carolina?

More information about payday loans in Albertson, North Carolina can be found on the North Carolina State Department of Financial Services website. You can also contact the department directly with any questions or concerns.

Are payday loans available in Albertson, North Carolina?

No, payday loans are prohibited in Albertson, North Carolina.