Payday Loans in Falkland, North Carolina

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

Company nameAddressZip codePhone number
Alliance Bank & Trust Co 412 S Dekalb St, Shelby, NC 28150 +1 (704) 471 - 1500
First Horizon Bank 202 E Washington St, Rockingham, NC 28379 +1 (910) 997 - 6245
Raleigh Check Cashing 2510 S Wilmington St, Raleigh, NC 27603 +1 (919) 856 - 1041
Carolina Farm Credit 2549 Chimney Rock Rd, Hendersonville, NC 28792 +1 (828) 693 - 0272
Walmart Money Center 201 Montgomery Crossing, Biscoe, NC 27209
Southern Bank 202 S Croatan Hwy, Kill Devil Hills, NC 27948 +1 (252) 449 - 4499
First National Bank 202 S Main St, Reidsville, NC 27320 +1 (336) 342 - 3346
Welcome Finance Co 220 Thompson St, Hendersonville, NC 28792 +1 (828) 697 - 2441
Federal Financial Services 116 E Market St, Elkin, NC 28621 +1 (336) 526 - 5191
BB&T Mortgage 1606 N Howe St, Southport, NC 28461 +1 (910) 457 - 4347

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Falkland, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Wilson, NC, Quick Loan in Winston-Salem, NC, Emergency Loan in Apex, NC, Guaranteed Loans in Asheville, NC, Short-term Loans in Burlington, NC, Online Loans in Cary, NC, Payday Loans in Chapel Hill, NC and Emergency Loan in Charlotte, 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 Falkland, NC.

Beautiful sights of Falkland, NC

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

27827

Are Payday Loans Legal In Falkland, 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

Falkland, NC payday loan calculator

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

Payday loans are a type of short-term loan that are designed to provide borrowers with quick access to cash to cover unexpected expenses. However, these loans come with extremely high-interest rates and fees that can trap borrowers into a cycle of debt. In North Carolina, payday loans are prohibited by law, including in the town of Falkland. In this article, we will explore why payday loans are banned in North Carolina, the alternatives available to residents of Falkland, and offer practical tips for managing your finances.

Why are payday loans banned in North Carolina?

North Carolina passed laws in 2001 and 2006 that made payday lending illegal in the state. The laws capped interest rates on loans at 36% APR, making payday lending unprofitable for lenders within the state. There were several reasons for the state’s decision, including concerns about predatory practices, high-interest rates, and debt traps.

Payday loans are known for their high-interest rates, which can be as much as 400% APR. Borrowers can quickly find themselves in a cycle of debt, as they struggle to pay off the loan and its fees, which results in taking out another loan to cover the outstanding amount. This cycle can continue indefinitely, trapping borrowers in a cycle of debt that is difficult to break free from.

What are the alternatives to payday loans?

If you’re in need of cash to cover unexpected expenses, payday loans are not your only option. Here are several alternatives that are available to North Carolina residents:

Personal loans from a bank or credit union

Personal loans from a bank or credit union typically have much lower interest rates and fees than payday loans. These loans are also easier to manage, as they typically have longer repayment terms, allowing borrowers to spread out payments over a longer period of time.

Credit cards

Credit cards are another option for covering emergency expenses. While credit card interest rates can be high, they are typically lower than payday loan rates. Furthermore, credit card companies offer promotional rates and rewards programs that can make using a credit card a smart choice for short-term cash needs.

Local assistance programs

Many local charities and non-profit organizations offer assistance programs to help residents cover emergency expenses. These programs can include rent assistance, utility bill assistance, and more.

Saving for emergencies

The best way to manage unexpected expenses is to have an emergency fund. Setting aside a small amount of money each month can help you build up a reserve that can be used to cover unexpected expenses without resorting to payday loans or other high-cost loans.

Managing your finances

Regardless of your financial situation, it’s important to manage your finances carefully. Here are several practical tips that can help you stay on top of your money:

  • Create a budget: Knowing your income and expenses is the first step in managing your finances. Use a budgeting tool or spreadsheet to track your spending and ensure that you’re living within your means.
  • Cut expenses: If you’re struggling to make ends meet, look for ways to cut your expenses. This can include reducing your cable or internet bill, eating out less frequently, or shopping around for a better deal on car insurance.
  • Save for retirement: It’s never too early to start saving for retirement. Look into your employer’s retirement plan or open an individual retirement account (IRA) to start building your nest egg.
  • Build an emergency fund: As mentioned earlier, having an emergency fund can help you avoid the need for payday loans or other high-cost loans. Aim to save at least six months’ worth of living expenses.
  • Stay on top of your credit: Your credit score can impact everything from your ability to get a loan to your insurance rates. Check your credit report regularly to ensure that there are no errors or fraudulent accounts.

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

  • Payday loans are not legal in the state of North Carolina.
  • The maximum interest rate allowed by North Carolina law is 36% APR.
  • As of 2021, there are no payday loan storefronts in Falkland.
  • North Carolina’s ban on payday lending has saved consumers an estimated $457 million in fees and interest since 2006.

Apply Now

If you’re in need of cash to cover unexpected expenses, TheGuaranteedLoans offers a convenient way to connect with potential lenders. We are a connector service, not a direct lender, which means we don’t make lending decisions and we don’t charge fees. Applying for a loan through TheGuaranteedLoans is simple and straightforward. Fill out our online application form, and we’ll match you with a lender who meets your needs. It’s that easy!

Disclaimer: Not everyone will qualify for a loan. Lending decisions are made at the discretion of individual lenders, and TheGuaranteedLoans cannot guarantee loan approval.

F.A.Q.

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

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

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

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