Payday Loans in Clarendon, North Carolina

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

Company nameAddressZip codePhone number
PNC Bank 3619 Rogers Rd, Wake Forest, NC 27587 +1 (919) 453 - 6310
SunTrust Mortgage 11020 David Taylor Dr 100, Charlotte, NC 28262 +1 (704) 717 - 2218
Wells Fargo Bank 146 Western Blvd, Jacksonville, NC 28546 +1 (910) 353 - 0068
Jackson Hewitt Tax Service 964 NC-210, Sneads Ferry, NC 28460 +1 (910) 741 - 5005
PNC Bank 1007 Smokey Park Hwy, Candler, NC 28715 +1 (828) 665 - 3190
BB&T 1130 Beaver Creek Commons Dr, Apex, NC 27502 +1 (919) 303 - 3040
Walmart Money Center 201 Montgomery Crossing, Biscoe, NC 27209
TIAA Financial Services 3426 Toringdon Way Suite 102, Charlotte, NC 28277 +1 (877) 535 - 3910
Auto Finance Center - Indian Trail 5110 W Hwy 74, Monroe, NC 28110 +1 (704) 844 - 0200
Matthews & Associates 800 Umstead Ln, Garner, NC 27529 +1 (919) 251 - 6959

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Clarendon, NC, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Mooresville, NC, 24-Hour Loan in Raleigh, NC, Payday Loans in Rocky Mount, NC, Guaranteed Loans in Salisbury, NC, Payday Loan Without a Credit Check in Wake Forest, NC, 24-Hour Loan in Wilmington, NC, Quick Loan in Wilson, NC and No Credit Check Loans in Winston-Salem, 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 Clarendon, NC.

Are Payday Loans Legal In Clarendon, 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

Clarendon, NC payday loan calculator

Payday Loans in Clarendon, North Carolina: What You Need to Know

Payday loans are a type of short-term, high-interest loan that is designed to help people with unexpected expenses or emergencies. However, in North Carolina, these loans are prohibited under state law. If you’re considering taking out a payday loan in Clarendon or elsewhere in North Carolina, it’s important to understand your options and the potential risks involved.

What are Payday Loans?

Payday loans are typically small, short-term loans that are designed to be repaid on the borrower’s next payday. These loans are unsecured, meaning they don’t require any collateral. Instead, they are based on the borrower’s income and ability to repay the loan.

While payday loans can be helpful in certain situations, they often come with high interest rates and fees. In North Carolina, the interest rate on payday loans is capped at 36%, which is much lower than the rates charged in many other states. Despite this relatively low cap, payday loans are still considered to be a risky form of borrowing.

Why are Payday Loans Prohibited in North Carolina?

In 2001, North Carolina became the first state in the country to enact a law prohibiting payday lending. The law was passed in response to concerns about the high interest rates and fees associated with these loans, which often trap borrowers in a cycle of debt.

Under North Carolina law, it is illegal for any lender to make a payday loan to a resident of the state. This includes both in-person and online lenders who may try to offer payday loans to North Carolina residents.

What are the Alternatives to Payday Loans in Clarendon, North Carolina?

Although payday loans are prohibited in North Carolina, there are still options available for people who need to borrow money quickly. Some of the alternatives to payday loans include:

  • Personal loans: Personal loans are installment loans that are paid back over a longer period of time. These loans typically have lower interest rates and fees than payday loans, making them a more affordable option for many borrowers. However, personal loans often require a credit check, so they may not be available to everyone.
  • Credit cards: Credit cards can be a good option for people who need to borrow money quickly. Many credit cards offer cash advances, which can be used to cover emergency expenses. However, cash advances often come with high interest rates and fees, so they should only be used as a last resort.
  • Emergency assistance programs: There are many local and national organizations that offer emergency assistance programs for people who are struggling to make ends meet. These programs may provide financial assistance, food, housing, or other support services.

Interesting Facts and Statistics

  • North Carolina was the first state in the country to ban payday lending, setting an example for other states to follow.
  • Despite the ban on payday lending, many residents of North Carolina still struggle with debt and financial insecurity.
  • According to a study by the Pew Charitable Trusts, the average payday loan borrower is in debt for five months out of the year, spending an average of $520 in fees to borrow $375.
  • The Consumer Financial Protection Bureau (CFPB) has found that over 80% of payday loans are rolled over or followed by another loan within two weeks, indicating that many borrowers are unable to repay their loans on time.

Apply Now

If you’re in need of cash and are considering a payday loan, it’s important to explore all of your options before making a decision. At TheGuaranteedLoans, we can connect you with potential lenders who can offer alternative forms of lending, such as personal loans or installment loans.

We are not a direct lender, but we work with a network of reputable lenders who can help you get the money you need quickly and easily. To get started, simply fill out our online application and we’ll do the rest.

Remember, before taking out any type of loan, it’s important to understand the terms and conditions, including the interest rate, fees, repayment terms, and any potential penalties for late or missed payments. By being a well-informed borrower, you can make the best decision for your financial situation and avoid falling into a cycle of debt.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Clarendon, North Carolina?

It is illegal for lenders to offer payday loans in Clarendon, North Carolina, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Clarendon, North Carolina?

If you have already taken out a payday loan in Clarendon, North Carolina, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.