Payday Loans in Cerro Gordo, North Carolina

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

Company nameAddressZip codePhone number
United Federal Credit Union - Statesville 209 Turnersburg Hwy, Statesville, NC 28625 +1 (888) 982 - 1400
First National Bank 3000 Old Hollow Rd, Walkertown, NC 27051 +1 (336) 595 - 3488
Matthew Beatty - Thrivent 1508 Military Cutoff Rd STE 206, Wilmington, NC 28403 +1 (910) 777 - 3367
Southern Bank 306 Main St, Seven Springs, NC 28578 +1 (252) 569 - 3161
Mariner Finance 1549 Atkinson St, Laurinburg, NC 28352 +1 (910) 277 - 7432
Cash America Pawn 1304 E Franklin Blvd, Gastonia, NC 28054 +1 (704) 867 - 1504
BB&T 102 E Main St, Pikeville, NC 27863 +1 (919) 242 - 5129
HomeTrust Bank - Shelby 224 E Warren St, Shelby, NC 28150 +1 (704) 487 - 4387
First Flight Federal Credit Union 1232 E Main St, Havelock, NC 28532 +1 (252) 447 - 0691
SunTrust 2101 Clark Ave, Raleigh, NC 27605 +1 (919) 500 - 4282

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cerro Gordo, NC, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Burlington, NC, Payday Loans in Cary, NC, Same Day Loans in Chapel Hill, NC, Payday Loans in Charlotte, NC, Same Day Loans in Concord, NC, Payday Loans in Durham, NC, Payday Loans in Fayetteville, NC and Payday Loan Without a Credit Check in Gastonia, 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 Cerro Gordo, NC.

Beautiful sights of Cerro Gordo, NC

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

28430

Are Payday Loans Legal In Cerro Gordo, 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

Cerro Gordo, NC payday loan calculator

Payday Loans in Cerro Gordo, North Carolina

If you are considering a payday loan in Cerro Gordo, North Carolina, you should be aware that payday loans are prohibited in North Carolina. Payday loans are short-term loans that typically have very high interest rates and fees, making them a risky form of borrowing for consumers.

Despite the fact that payday loans are illegal in North Carolina, many people may still be tempted to turn to these types of loans for quick cash. In this article, we’ll explain why payday loans are illegal in North Carolina, explore alternative options, and provide tips for avoiding payday loans and other types of high-interest borrowing.

Why Payday Loans Are Illegal in North Carolina

In 2006, North Carolina passed the North Carolina Consumer Finance Act, which made payday lending illegal in the state. This law capped interest rates on loans at 30% and prohibited lenders from offering loans with terms shorter than 31 days. The law also prohibited the use of post-dated checks and required lenders to be licensed and registered with the state.

The North Carolina Consumer Finance Act was passed in response to concerns about predatory lending practices and the harm that payday loans can cause consumers. Payday loans are often marketed to low-income borrowers who may have limited financial resources and may not fully understand the terms and costs of the loan.

Alternative Options for Borrowing Money in Cerro Gordo

If you need to borrow money in Cerro Gordo, there are several alternative options that may be available to you:

  • Credit union loans: Consider visiting a local credit union to explore loan options. Credit unions typically offer lower interest rates and more flexible terms than payday lenders.
  • Personal loans: Personal loans from banks, online lenders, or peer-to-peer lending platforms may offer more affordable rates and terms than payday loans.
  • Credit card cash advances: While credit card cash advances carry high interest rates, they may be a more affordable option than payday loans for consumers with good credit.
  • Borrowing from friends or family: If you have a trusted friend or family member who is willing to lend you money, this may be a better option than turning to a high-interest loan.

Tips for Avoiding High-Interest Borrowing

While payday loans may be tempting for their quick and easy cash, they come with high costs and risks. Here are some tips for avoiding high-interest borrowing:

  • Build an emergency fund: Setting aside money in a savings account can help you avoid the need for payday loans or other high-interest borrowing in the event of an unexpected expense or financial emergency.
  • Explore other forms of credit: Look into credit-building options like secured credit cards or credit-builder loans. These types of loans may offer more manageable rates and terms than payday loans.
  • Seek credit counseling: If you are struggling with debt and unable to make ends meet, consider seeking advice from a credit counseling agency. These organizations can provide guidance on how to manage your finances and pay down debt.

Interesting Facts and Statistics About Payday Loans in Cerro Gordo, North Carolina

  • Payday loans are illegal in North Carolina, with the state capping interest rates on loans at 30%.
  • In 2019, there were no licensed payday lenders operating in North Carolina.
  • The North Carolina Attorney General’s office has received hundreds of complaints from consumers about payday lending practices, including high interest rates, aggressive collection practices, and deceptive advertising.

Apply Now for a Loan

If you need to borrow money in Cerro Gordo or the surrounding areas, apply now on TheGuaranteedLoans website. Keep in mind that TheGuaranteedLoans is not a direct lender, but rather a loan connector service that will facilitate your connection with potential lenders. We offer an easy and secure online application process, so you can get the loan you need without having to resort to high-interest payday loans.

F.A.Q.

How do I know if a lender is offering illegal payday loans in Cerro Gordo, North Carolina?

Lenders offering illegal payday loans in Cerro Gordo, North Carolina may not be licensed by the state and may have high interest rates and fees that are not allowed under state law.

What can I do if I have taken out an illegal payday loan in Cerro Gordo, North Carolina?

If you have taken out an illegal payday loan in Cerro Gordo, North Carolina, you can contact the North Carolina State Department of Financial Services to report the lender and seek assistance in resolving the issue.