Payday Loans in Hobgood, North Carolina

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

Company nameAddressZip codePhone number
BB&T 1106 Sunset Ave, Clinton, NC 28328 +1 (910) 299 - 1120
Southern Loans Inc 105 N Wayne Ave, Dunn, NC 28334 +1 (910) 892 - 2274
First Citizens Bank 10702 US 70 West, Clayton, NC 27520 +1 (919) 553 - 7166
Quality Finance 1701 Goldsboro St S, Wilson, NC 27893 +1 (252) 243 - 1155
Time Financing Service 1116 W Broad St, Dunn, NC 28334 +1 (910) 892 - 0422
SunTrust Bank 276 Concord Pkwy S, Concord, NC 28027 +1 (704) 886 - 5508
Carolina Farm Credit 332 Morganton Blvd SW, Lenoir, NC 28645 +1 (828) 758 - 9951
Port City Mortgage 8024 Market St 10, Wilmington, NC 28411 +1 (910) 759 - 3689
ACE Cash Express 151 E Broad St, Statesville, NC 28677 +1 (704) 872 - 2332
Regional Finance 2568 W Franklin Blvd, Gastonia, NC 28052 +1 (704) 865 - 9696

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hobgood, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Matthews, NC, Payday Loans in Monroe, NC, 24-Hour Loan in Mooresville, NC, Online Loans in Raleigh, NC, Payday Loans in Rocky Mount, NC, Payday Loans in Salisbury, NC, Guaranteed Loans in Wake Forest, NC and Online 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 Hobgood, NC.

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

27843

Are Payday Loans Legal In Hobgood, 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

Hobgood, NC payday loan calculator

Payday Loans in Hobgood, North Carolina

If you’re looking for a quick cash fix in Hobgood, North Carolina, payday loans might appear to be an obvious choice. However, payday loans are prohibited in North Carolina, making it difficult for residents to access this type of lending option.

What are payday loans?

Payday loans are a short-term financial product where borrowers can borrow small amounts of money, typically up to $500, for a period of one to four weeks. The borrower is expected to pay back the loan on their next paycheck, usually with interest and fees.

Why are payday loans prohibited in North Carolina?

In 2001, North Carolina became the first state in the United States to prohibit payday loans. The state’s Attorney General, Roy Cooper, led a campaign against these loans due to the high interest rates and fees, which were often in excess of 400% APR. According to Cooper, these loans were “financially devastating” to consumers, often trapping them in a cycle of debt.

What are the alternatives to payday loans in Hobgood, North Carolina?

Fortunately, there are alternative lending options available in Hobgood, North Carolina. The following options are available for individuals who need quick cash without resorting to payday loans:

Installment Loans

Installment loans are an alternative to payday loans, offering borrowers a longer repayment period, usually spread over several months or even years. These loans offer higher loan amounts, typically up to $5,000, and lower annual percentage rates (APR) than payday loans.

Personal Loans

Personal loans are a popular option for individuals who need to borrow larger sums of money, ranging from $1,000 to $100,000 or more. These loans offer a fixed repayment term, usually ranging from 12 to 84 months, with lower interest rates than credit cards.

Credit Unions

Credit unions are member-owned financial institutions that offer loans with low interest rates and fees. These loans are usually available to members only, but many credit unions allow anyone to join by making a small donation to a charity or non-profit organization.

Apply Now

If you need financial assistance in Hobgood, North Carolina, TheGuaranteedLoans can help you find a lender. We are a connector service, not a direct lender, which means we connect borrowers with potential lenders who can provide installment loans, personal loans, and other types of lending products.

Simply visit our website and fill out our online application form. We’ll process your application and forward it to our trusted lenders, who will review your information and contact you directly if you meet their lending criteria.

Interesting Facts and Statistics

According to the Center for Responsible Lending, payday loans cost Americans $4.1 billion annually in fees.

Approximately 80% of payday loans are rolled over into new loans because the borrower cannot afford to pay back the original loan.

In North Carolina, the average payday loan APR was 391% in 2019.

Conclusion

Payday loans are prohibited in North Carolina, but there are alternative lending options available. TheGuaranteedLoans can help you find a lender who can provide you with a loan that meets your financial needs. Remember to always read the terms and conditions of any loan before agreeing to borrow money.

F.A.Q.

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

It is illegal for lenders to offer payday loans in Hobgood, 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 Hobgood, North Carolina?

If you have already taken out a payday loan in Hobgood, 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.