Payday Loans in Lakeview, North Carolina

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

Company nameAddressZip codePhone number
United States Postal Service 34668 US-264, Engelhard, NC 27824 +1 (800) 275 - 8777
Southern Bank 148 Main St, Belhaven, NC 27810 +1 (252) 943 - 2184
SunTrust 3126 Fincher Farm Rd, Matthews, NC 28105 +1 (704) 246 - 4035
Union Bank 1750 Durham Rd, Roxboro, NC 27573 +1 (336) 322 - 1165
Allegacy Federal Credit Union 6320 Allegacy Way, Clemmons, NC 27012 +1 (336) 830 - 8600
Jackson Hewitt Tax Service 108 W Wilmington St, Burgaw, NC 28425 +1 (910) 259 - 8755
Self-Help Lending Office 301 W Main St, Durham, NC 27701 +1 (919) 956 - 4400
Lincoln Financial Advisors 305 Angier Rd, Fuquay-Varina, NC 27526 +1 (919) 557 - 5520
Fidelity Bank 20 Pine State Street, Lillington, NC 27546 +1 (910) 814 - 1164
Bank of Oak Ridge 1597 New Garden Rd, Greensboro, NC 27410 +1 (336) 315 - 2400

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lakeview, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Jacksonville, NC, Payday Loans in Kannapolis, NC, Payday Loan Companies in Matthews, NC, Payday Loans in Monroe, NC, Payday Loans in Mooresville, NC, Quick Loan in Raleigh, NC, Payday Loans in Rocky Mount, NC and Payday Loans in Salisbury, 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 Lakeview, NC.

Are Payday Loans Legal In Lakeview, 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

Lakeview, NC payday loan calculator

Payday Loans in Lakeview, North Carolina

Payday loans are a type of short-term loan that can help you bridge the gap between paychecks. However, they can be risky and lead to a cycle of debt. In North Carolina, payday loans are prohibited by law. Let’s take a closer look at the payday loan situation in Lakeview, North Carolina, and why you should avoid them.

What are Payday Loans?

Payday loans are small loans that are typically due on the borrower’s next payday. They are designed to help with unexpected expenses or financial emergencies. Payday lenders do not require a credit check, making them attractive to borrowers with bad credit or no credit history. However, the interest rates on these loans can be extremely high, often reaching triple digits.

Why are Payday Loans Prohibited in North Carolina?

North Carolina General Statutes 53-281 and the North Carolina Consumer Finance Act (NCCFA) prohibit payday lending practices. The loan amounts are capped at $500 per loan, and lenders are not allowed to charge more than 36% APR. The High-interest rates and fees of payday loans often lead to a cycle of debt where borrowers take out a new loan to pay off the previous one, and so on and so forth.

The Payday Loan Situation in Lakeview, North Carolina

Although payday loans are prohibited in North Carolina, some lenders still try to operate in the state. However, they do so illegally, and law enforcement is cracking down on illegal payday lending practices. In Lakeview, North Carolina, there have been instances where lenders have tried to offer these illegal loans to vulnerable borrowers. It is important to be aware of these illegal lenders and avoid them at all costs.

Interesting facts:

  • Approximately 10% of North Carolinians have used payday loans in the past
  • A 2016 study found that North Carolina consumers paid $457 million in fees to payday lenders over a five-year period
  • Payday lenders target low-income communities as they are more likely to be in need of short-term loans

Why You Should Avoid Payday Loans

The interest rates on payday loans are extremely high, often reaching triple digits. As mentioned earlier, they can create a cycle of debt that is hard to break. Additionally, payday lenders often target vulnerable communities like low-income families and minorities. Therefore, it’s essential to understand the risks and alternatives before considering a payday loan.

Alternatives to Payday Loans

If you need financial assistance, there are alternatives to payday loans that can help you avoid a cycle of debt. These include:

  • Credit union loans
  • Personal loans from banks or online lenders
  • Credit counseling services
  • Assistance programs from non-profit organizations

Apply Now

If you find yourself in a difficult financial situation, TheGuaranteedLoans can connect you with trusted lenders. Fill out our online application and get started on the path to financial security. Please note that TheGuaranteedLoans is not a direct lender but a connector service that facilitates your connection with potential lenders.

Payday loans may seem like a quick fix, but they come with high-interest rates and significant risks. It is better to explore alternative borrowing options and improve your financial health in the long run. Remember that TheGuaranteedLoans is here to help you navigate the lending process and find a solution that works for you.

F.A.Q.

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

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

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

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