Payday Loans in Connellys Springs, North Carolina

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

Company nameAddressZip codePhone number
Hatfield Capital, Inc. 301 McCullough Dr 400, Charlotte, NC 28262 +1 (980) 729 - 8404
First National Bank 230 E Mountain St, Kernersville, NC 27284 +1 (336) 993 - 2100
Carolina Finance 803 N Queen St, Kinston, NC 28501 +1 (252) 527 - 1035
BB&T Mortgage 102 W Main St, Plymouth, NC 27962 +1 (252) 793 - 1400
Coastal Finance Co 2201 Arendell St, Morehead City, NC 28557 +1 (252) 726 - 9126
Southern Bank - Lewiston 127 Main St, Lewiston Woodville, NC 27849 +1 (252) 348 - 2561
Southern Bank - Red Oak 8315 Red Oak Blvd, Red Oak, NC 27868 +1 (252) 443 - 2138
Fifth Third Bank & ATM 1818 Matthews Township Pkwy, Matthews, NC 28105 +1 (704) 841 - 2202
BB&T 332 S Sycamore St, Rose Hill, NC 28458 +1 (910) 289 - 3193
First National Bank 1101 Main St, Danbury, NC 27016 +1 (336) 593 - 8151

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Connellys Springs, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Huntersville, NC, Online Loans in Indian Trail, NC, Payday Loans in Jacksonville, NC, Payday Loans in Kannapolis, NC, Payday Loans in Matthews, NC, Payday Loans in Monroe, NC, No Credit Check Loans in Mooresville, NC and Payday Loans in Raleigh, 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 Connellys Springs, NC.

Beautiful sights of Connellys Springs, NC

Are Payday Loans Legal In Connellys Springs, 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

Connellys Springs, NC payday loan calculator

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

Payday loans are short-term loans designed for individuals who need quick access to cash for emergencies or unexpected expenses. In Connellys Springs, North Carolina, payday loans are prohibited by law. Although payday loans may seem like a quick solution to financial difficulties, the high-interest rates and fees associated with these loans can leave borrowers in an even more precarious financial situation. In this article, we will explore why payday loans are banned in Connellys Springs, what alternatives are available, and what you can do if you’re struggling with debt.

Understanding Payday Loans

Payday loans are typically short-term loans with high-interest rates. These loans are usually due on the borrower’s next payday and are designed to be repaid in full at that time. However, these loans often come with high fees and interest rates that can make them difficult to repay.

In North Carolina, payday loans are prohibited by law. This means that lenders are not allowed to offer payday loans to consumers in Connellys Springs or any other part of the state.

Why are Payday Loans Prohibited in Connellys Springs?

Payday loans are banned in Connellys Springs and throughout North Carolina due to the high-interest rates and fees associated with these loans. These loans often target low-income individuals who may not have access to other forms of credit. Unfortunately, the high-interest rates and fees make it difficult for borrowers to repay the loan, often resulting in a cycle of debt.

In 2001, the North Carolina General Assembly enacted the North Carolina Consumer Finance Act, which made payday lending illegal in the state. The law caps interest rates at 36%, making payday loans unprofitable for lenders.

Alternatives to Payday Loans in Connellys Springs, North Carolina

Although payday loans are illegal in Connellys Springs, there are alternative options available for individuals who need quick access to cash. Some of these alternatives include:

  • Credit Union Loans: Credit unions are non-profit organizations that offer loans at lower interest rates than traditional banks. Some credit unions also offer short-term loans for emergency situations.
  • Personal Loans: Personal loans are typically unsecured loans with lower interest rates than payday loans. These loans are available through banks, credit unions, and online lenders.
  • Credit Card Cash Advance: If you have a credit card, you may be able to get a cash advance. However, be aware that cash advances usually come with high fees and interest rates.
  • 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 good option.

What to Do If You’re Struggling with Debt

If you’re struggling with debt in Connellys Springs, there are resources available to help you. Some of these resources include:

  • The North Carolina Department of Justice: The North Carolina Department of Justice provides information about debt collection and consumer rights. If you’re being harassed by debt collectors, you can file a complaint with the Department.
  • Consumer Credit Counseling: Consumer credit counseling services can help you develop a budget and create a plan to pay off your debts.
  • Bankruptcy: If you’re unable to pay your debts, bankruptcy may be an option for you. However, it’s important to talk to a bankruptcy attorney before filing.

Interesting Facts and Statistics about Payday Loans in Connellys Springs, North Carolina

  • In North Carolina, payday loans have been prohibited since 2001.
  • According to a 2013 report by the State Attorney General, payday lenders have attempted to circumvent state law by offering loans online to North Carolina residents.
  • According to the Center for Responsible Lending, the average payday loan borrower pays $520 in fees to borrow $375.
  • Payday loans are banned in 14 states and the District of Columbia.

Apply Now

If you’re in need of quick cash, TheGuaranteedLoans can connect you with potential lenders who may be able to provide personal loans, auto loans, and title loans. As a connector service, TheGuaranteedLoans works with a network of lenders to find a loan that meets your needs. Start your application today to see what loan options may be available to you!

Please note that TheGuaranteedLoans is not a direct lender. We are a connector service that helps connect borrowers with potential lenders. If you decide to take out a loan through one of our lenders, be sure to read the terms and conditions carefully and ensure that you fully understand the loan’s repayment terms, fees, and interest rates.

F.A.Q.

What are the penalties for offering or taking out a payday loan in Connellys Springs, North Carolina?

Offering or taking out a payday loan in Connellys Springs, North Carolina is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Connellys Springs, North Carolina?

No, there are no exceptions to the payday loan prohibition in Connellys Springs, North Carolina.