Payday Loans in Gerton, North Carolina

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

Company nameAddressZip codePhone number
Shane Cook at Guaranteed Rate NMLS 476328 2407 N Croatan Hwy Suite A, Kill Devil Hills, NC 27948 +1 (252) 596 - 0560
Cape Fear Lending Inc 7050 Market St, Wilmington, NC 28411 +1 (910) 319 - 7673
SunTrust Bank 105 Avalon Dr, Salisbury, NC 28144 +1 (704) 212 - 2227
Same Day Payday Loans 825 Gibbons St, Gastonia, NC 28052 +1 (980) 907 - 6256
Boyd w Graham CPA 431 Pamlico St, Belhaven, NC 27810 +1 (252) 943 - 3711
First Financial Services Inc 3600 N Duke St 109, Durham, NC 27704 +1 (919) 797 - 1228
Susan Key NMLS 74835 1019 S Cox St, Asheboro, NC 27203 +1 (336) 633 - 1111
State Employees' Credit Union 426 CC Camp Rd, Elkin, NC 28621 +1 (336) 835 - 3344
First Bank 355 N Bilhen St, Troy, NC 27371 +1 (910) 572 - 3885
BB&T 1856 12th Ave NE, Hickory, NC 28601 +1 (828) 345 - 1670

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gerton, NC, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Goldsboro, NC, Payday Loans in Greensboro, NC, Guaranteed Loans in Greenville, NC, 24-Hour Loan in Hickory, NC, Same Day Loans in High Point, NC, Payday Loans in Holly Springs, NC, Quick Loan in Huntersville, NC and Payday Loan Companies in Indian Trail, 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 Gerton, NC.

Beautiful sights of Gerton, NC

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

28735

Are Payday Loans Legal In Gerton, 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

Gerton, NC payday loan calculator

Payday Loans in Gerton, North Carolina: A Comprehensive Guide

Payday loans are popular among consumers who need quick access to cash to cover unexpected expenses or bills. However, the state of North Carolina has banned payday lending, making it illegal for lenders to offer these high-interest loans. In this article, we will provide a comprehensive guide to payday loans in Gerton, North Carolina.

What are Payday Loans?

Payday loans are a type of short-term loan that typically must be repaid within two weeks to a month. These loans are often marketed as a way to cover unexpected expenses or bills before a borrower’s next payday. However, payday loans often come with extremely high interest rates, fees, and penalties.

In North Carolina, payday lending is illegal. The state’s usury laws prohibit lenders from charging more than 36% annual interest on small loans. This has effectively eliminated the payday loan industry in North Carolina, making it impossible for borrowers to obtain these types of loans legally.

Why are Payday Loans Prohibited in North Carolina?

North Carolina passed laws in 2001 to protect consumers from the predatory lending practices associated with payday loans. These laws capped interest rates and fees on loans below $10,000 at 36%. Additionally, payday lending was specifically prohibited in 2006.

The state’s Attorney General Josh Stein has been a vocal advocate for cracking down on payday lenders in North Carolina. Stein has worked to enforce North Carolina’s consumer protection laws and has taken legal action against lenders who have attempted to circumvent the state’s payday lending ban.

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

In North Carolina, there are several alternatives to payday loans that consumers can consider. These alternatives include:

  • Credit Union Loans: Many credit unions offer short-term loans with reasonable interest rates and fees for members who need quick cash.
  • Personal Loans: Borrowers can obtain personal loans from online lenders, banks, or credit unions. These loans typically have lower interest rates and more favorable terms than payday loans.
  • Government Assistance Programs: Low-income residents of North Carolina may be eligible for government assistance programs that can help cover expenses like housing, utilities, and transportation.

Myths and Facts about Payday Loans in Gerton, North Carolina

There are several myths surrounding payday loans that may cause confusion among consumers in North Carolina. Let’s take a closer look at the facts:

Myth: Payday loans are legal in North Carolina.

Fact: Payday loans are illegal in North Carolina.

Myth: Payday loans are a good way to build credit.

Fact: Payday loans do not help build credit, as payday lenders do not report to credit bureaus.

Myth: Payday loans are an affordable way to borrow money.

Fact: Payday loans are extremely expensive, with interest rates often exceeding 400% APR.

Interesting Facts about Payday Loans in Gerton, North Carolina

  • North Carolina was one of the first states to pass laws banning payday loans.
  • The North Carolina Attorney General’s Office has taken legal action against payday lenders who have attempted to circumvent the state’s payday lending ban.
  • Payday lenders often target low-income and vulnerable populations for their high-interest loans.

Apply Now for an Alternative Loan

If you are in need of quick cash in Gerton, North Carolina, TheGuaranteedLoans can help connect you with potential lenders. While we do not provide direct loans, we are a connector service that can facilitate your application process. Fill out our online application today to see if you qualify for an alternative loan!

F.A.Q.

Can I take out a payday loan online in Gerton, North Carolina?

No, even if the lender is located outside of North Carolina, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in Gerton, North Carolina?

No, it is illegal to use a payday loan from another state in Gerton, North Carolina.