Payday Loans in Caroleen, North Carolina

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

Company nameAddressZip codePhone number
United Community Bank 128 N 2nd St, Smithfield, NC 27577 +1 (919) 989 - 6700
Speedy Bad Credit Loans 904 Salem Woods Dr, Raleigh, NC 27615 +1 (919) 298 - 8063
First Bank - Asheville East, NC 10 S Tunnel Rd, Asheville, NC 28805 +1 (828) 298 - 8193
State Employees' Credit Union 1130 Fairgrove Church Rd SE, Hickory, NC 28602 +1 (828) 327 - 4126
Basic Finance INC 26 NC hwy 16 North, 26 NC-16, Taylorsville, NC 28681 +1 (828) 635 - 8200
Welcome Finance Co 208 N Sterling St, Morganton, NC 28655 +1 (828) 433 - 1395
Wells Fargo Home Mortgage 1131 Military Cutoff Rd A, Wilmington, NC 28405 +1 (910) 509 - 5780
BB&T 934 NC-210, Sneads Ferry, NC 28460 +1 (910) 327 - 3171
Regional Finance 588 Bailey Rd Suite E, Lumberton, NC 28358 +1 (910) 536 - 1086
Southern Bank 105 N Railroad St, Macclesfield, NC 27852 +1 (855) 275 - 7226

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Caroleen, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Matthews, NC, Same Day Loans in Monroe, NC, Payday Loans in Mooresville, NC, Payday Loans in Raleigh, NC, Payday Loans in Rocky Mount, NC, Payday Loans in Salisbury, NC, Payday Loan for Wake Forest, NC and Guaranteed Loans in Wilmington, 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 Caroleen, NC.

Payday Loans Available in Caroleen, NC By The Following ZIP Codes:

28019

Are Payday Loans Legal In Caroleen, 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

Caroleen, NC payday loan calculator

Payday loans are a common financial option during times of emergency. However, they can also lead to financial distress if financial obligations are not met appropriately. In some states, payday loans are prohibited due to their high-interest rates and ability to trap borrowers in a cycle of debt. One of the states where payday loans are prohibited is North Carolina.

Understanding Payday Loans

Payday loans are short-term loans provided by lenders for individuals in need of quick cash. They are usually due on the borrower’s next payday and typically carry high-interest rates. Borrowers must provide a postdated check or sign over electronic access to their bank account for the lender to collect payment when the loan becomes due. If the borrower does not have sufficient funds to repay the loan, the lender may charge additional fees and interest, leading to a cycle of debt.

Payday Loans in Caroleen, North Carolina

Caroleen is a small town in Rutherford County, North Carolina. It has a population of approximately 227 people. The state of North Carolina prohibited payday loans in 2001. The law was enacted to protect consumers from the high interest rates and fees that are commonly associated with payday loans.

According to North Carolina law, lenders cannot provide payday loans to North Carolina residents. This has helped protect the citizens of Caroleen from the detrimental effects of payday loans. North Carolina has strict regulations on all types of small-dollar lending, including payday loans, and has taken measures to enforce its lending laws.

Are there alternatives to payday loans in Caroleen?

Fortunately, there are alternatives to payday loans that are available to Caroleen residents.

Credit Unions

Credit unions are non-profit financial institutions that are owned and controlled by their members. They provide low-cost loans to their members, including small-dollar loans that can be used to cover unexpected expenses. Credit unions are a good alternative to payday loans because they offer lower fees and interest rates than traditional lenders.

Online Lenders

Online lenders are another option for Caroleen residents in need of quick cash. Online lenders offer personal loans that are not secured by collateral, which means that borrowers do not need to put up any assets to secure the loan. While the interest rates for online loans are typically higher than those for credit union loans, they are generally lower than those for payday loans.

Credit Counseling

Credit counseling is a resource for individuals who are struggling with debt. Counselors can help individuals create a budget, renegotiate payment terms with creditors, and help them work towards becoming debt-free. Credit counselors provide their services for free or at a low cost, making them an affordable option for individuals in need of financial guidance.

Interesting Facts and Statistics about Payday Loans in Caroleen, North Carolina

  • Payday lending is prohibited in North Carolina.
  • The North Carolina commissioner of banks has taken action against several payday lenders who attempted to circumvent North Carolina’s lending laws.
  • North Carolina has one of the lowest per capita payday loan usage rates in the country.
  • Credit unions in North Carolina provided over $200 million in small-dollar loans in 2019.

Apply Now

If you’re in need of quick cash and reside in Caroleen, North Carolina, consider applying for a loan through TheGuaranteedLoans. As a connector service, we work with a network of potential lenders to connect you with a loan option that works best for you. Apply now to get started. Remember, TheGuaranteedLoans is not a direct lender; we simply facilitate the application process on your behalf.

Conclusion

Payday loans are prohibited in North Carolina, including Caroleen. While these loans may be tempting in times of emergency, they can lead to financial distress. Fortunately, there are alternative options available to Caroleen residents, including credit unions, online lenders, and credit counseling. Remember to carefully consider your options before applying for any type of loan, and always read the terms and conditions before signing any agreement.

F.A.Q.

Can a payday loan company garnish my wages in Caroleen, North Carolina?

No, a payday loan company cannot garnish your wages in Caroleen, North Carolina because these loans are illegal in the state.

Can a payday loan company repossess my property in Caroleen, North Carolina?

No, a payday loan company cannot repossess your property in Caroleen, North Carolina because these loans are illegal in the state.