Payday Loans in Coinjock, North Carolina

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

Company nameAddressZip codePhone number
NORTH STATE ACCEPTANCE 921 N Brightleaf Blvd, Smithfield, NC 27577 +1 (919) 938 - 4242
Lone Oak Realty 1113 Main St, Scotland Neck, NC 27874 +1 (252) 826 - 5496
Woodforest National Bank 566 US-70, Havelock, NC 28532 +1 (252) 444 - 4718
Fidelity Bank 8110 US-158, Stokesdale, NC 27357 +1 (336) 643 - 6341
Wells Fargo Bank 202 W Broad St, Elizabethtown, NC 28337 +1 (910) 862 - 3141
Welcome Finance Co 306 9th St, North Wilkesboro, NC 28659 +1 (336) 838 - 3152
First Citizens Bank 310 Main St, Bayboro, NC 28515 +1 (252) 745 - 4141
First Bank - Asheboro, NC 335 S Fayetteville St, Asheboro, NC 27203 +1 (336) 328 - 0735
Southern Bank 101 N Wilson St, Fremont, NC 27830 +1 (919) 242 - 6011
Mariner Finance 720 NC-24, Albemarle, NC 28001 +1 (704) 982 - 9501

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Coinjock, NC

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

27923

Are Payday Loans Legal In Coinjock, 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

Coinjock, NC payday loan calculator

Payday Loans in Coinjock, North Carolina: A Comprehensive Guide

If you reside in Coinjock, North Carolina, and need some extra cash, you should know that payday loans are prohibited by state law. It’s important not to fall for predatory lending practices that could lead to a spiraling cycle of debt.

In this article, we will provide you with a deep understanding of payday loans, their risks, and alternatives available to residents of Coinjock, NC.

What are Payday Loans?

A payday loan is a short-term, high-interest loan that usually lasts two weeks or until the borrower’s next payday. The borrower writes a postdated check to the lender, which includes the principal amount and the fees. The lender cashes the check on the borrower’s next payday, or the borrower extends the loan by paying additional fees.

The high interest and fees of payday loans make them a dangerous source of finance for borrowers. The annual percentage rate (APR) for payday loans in North Carolina can exceed 400%, making it easy for borrowers to accumulate unmanageable debt.

Payday Loans in North Carolina

North Carolina is one of the 18 states in the U.S. that has outlawed payday loans, and it’s illegal for lenders to operate in the state. However, the laws against payday lending don’t stop unlicensed lenders from targeting North Carolina residents through online lending portals. These portals aren’t bound by state laws and may charge borrowers outrageous interest rates and hidden fees.

The Risks of Payday Loans

Payday loans may seem like a quick fix to financial problems, but they come with significant risks that can lead to long-term debt. Here are some of the risks of payday loans:

  • High-Interest Rates: The interest rates on payday loans are incredibly high and can reach triple-digit percentage points in many cases. These high rates can lead to increased financial strain and put borrowers at risk of defaulting.
  • Debt Cycle: Payday loans can trap you in a cycle of debt because borrowers who can’t repay the loan on time tend to renew or rollover the loan. This cycle leads to more costs and fees paid for the loan and makes it challenging to break free from the debt.
  • Fraudulent Lenders: Unlicensed and fraudulent lenders often operate online, offering payday loans on high-interest rates and hidden fees. Borrowers should always check for the lender’s registration with the North Carolina Attorney General’s office before applying for short-term borrowing options.

Alternatives to Payday Loans

Fortunately, there are alternative options available, even if you have bad credit or no credit history. Some of these alternatives include:

  • Personal Loans: Some credit unions and banks may offer personal loans to borrowers who have a steady income source and a good credit history. Personal loans typically have fixed interest rates, monthly installments, and more extended repayment terms than payday loans.
  • Alternative Financing: Nonprofit organizations and community-based lenders may offer alternative financing options to borrowers in need. These options typically have lower interest rates and fees compared to traditional payday loans.
  • Credit Counseling: Credit counseling agencies may assist individuals who are struggling to manage their finances and find ways to pay off their debts. They can provide financial management resources and credit counseling for people in need of it. You may find a list of accredited credit counselors on the North Carolina Department of Justice website.

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

  • The average APR of payday loans in North Carolina was 400% before the law banned them.
  • 37 North Carolinians filed a complaint with the state’s Attorney General’s Office between 2016 and 2019 against illegal payday lenders.
  • North Carolina saved an estimated $457 million annually from banning predatory loans in the state.

Apply Now

If you’re looking for short-term financing to cover your expenses, you may consider applying for a personal loan or alternative financing options. TheGuaranteedLoans is a trusted connector service that can help match you with potential lenders who may be able to offer you a suitable financial solution.

However, we want to remind you that TheGuaranteedLoans is not a direct lender and doesn’t provide loans itself. Instead, we help connect borrowers with licensed lenders who can provide you with suitable financing options.

Apply for a loan with TheGuaranteedLoans today and receive excellent customer service and a reliable outcome!

F.A.Q.

Can I be arrested for taking out a payday loan in Coinjock, North Carolina?

It is unlikely that a borrower would be arrested for taking out a payday loan in Coinjock, North Carolina, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in Coinjock, North Carolina?

Yes, there are several resources available to help consumers avoid predatory lending in Coinjock, North Carolina, including the state's Consumer Financial Protection Bureau, the North Carolina State Banking Department, and the North Carolina City Department of Consumer Affairs.