Payday Loans in Laurel Springs, North Carolina

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

Company nameAddressZip codePhone number
Wells Fargo Home Mortgage 5425 N Croatan Hwy, Kitty Hawk, NC 27949 +1 (252) 261 - 2191
Check 'n Go 1977 Cotton Grove Rd, Lexington, NC 27292 +1 (336) 357 - 5505
State Employees' Credit Union 503 Wilkesboro Blvd NE, Lenoir, NC 28645 +1 (828) 754 - 2105
AutoMatic Financing, Inc. 7048 Knightdale Blvd #100, Knightdale, NC 27545 +1 (919) 269 - 9600
Cherry Point MCAS Commissary MCAS Cherry Point, NC 28533 +1 (252) 466 - 0800
Southern Pines Chevrolet-buick-gmc 10722 US-15 501, Southern Pines, NC 28387 +1 (910) 687 - 4102
First Bank - Sanford, NC 1333 Plaza Blvd, Sanford, NC 27330 +1 (919) 777 - 2926
BB&T 617 Front St, Beaufort, NC 28516 +1 (252) 728 - 4501
BB&T 1920 N Croatan Hwy, Kill Devil Hills, NC 27948 +1 (252) 449 - 2141
Raleigh Auto Finance 3737 Glenwood Ave 100, Raleigh, NC 27612

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Laurel Springs, NC

Are Payday Loans Legal In Laurel 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

Laurel Springs, NC payday loan calculator

Comprehensive Guide to Payday Loans in Laurel Springs, North Carolina

Are you considering taking out a payday loan in Laurel Springs, North Carolina? It’s essential to know the state laws and regulations regarding payday loans before taking any action. Unfortunately, payday loans are prohibited in North Carolina, and this article will provide you with all the information you need to know about payday loans in Laurel Springs.

What are Payday Loans?

Payday loans are small, short-term loans that you receive with the agreement that you will repay the loan on your next payday. The amounts for payday loans are typically between $100-$1000, and the repayment terms usually last for a few weeks. Generally, payday loan lenders don’t take a borrower’s credit score into consideration, but instead, they require a post-dated check or access to the borrower’s bank account.

Payday Loans in North Carolina

North Carolina has strict laws against payday loans. The state had outlawed payday loans in 2001, and the Attorney General’s office has actively worked to enforce these laws. North Carolina law considers payday loans as small loans with an interest rate higher than 36% per annum, and hence, they are considered illegal. Additionally, there are caps on other loans that can affect North Carolina residents, such as car title loans. Therefore, be cautious when researching and choosing a lender to avoid falling into any scams or illegal practices.

Why are Payday Loans Illegal in North Carolina?

The main reason for outlawing payday loans in North Carolina was to protect its residents from predatory lending practices that often came with these types of loans. Payday loans often come with hidden fees, high-interest rates, and short repayment terms that can easily trap a borrower in a never-ending cycle of debt. Although payday loans are prohibited in North Carolina, residents still have access to other loan options, like installment loans.

Installment Loans in Laurel Springs, North Carolina

Installment loans are an alternative to payday loans that you might consider. An installment loan is a personal loan that allows you to borrow a lump sum of money, typically for larger amounts and longer repayment terms. With an installment loan, you’ll receive the full loan amount upfront and repay it with interest over an extended period.

Apply Now

Are you in need of a loan and looking for additional options? TheGuaranteedLoans can help you get connected with certified lenders that operate in accordance with state laws. Remember, we are a connector service and not a direct lender. Apply now on our website and get started today.

Interesting Facts and Statistics

  • North Carolina is one of the 18 states where payday loans are illegal
  • The average annual percentage rate (APR) for payday loans in the U.S is 391%
  • Payday lenders access borrowers’ bank accounts, which can lead to unauthorized debits and additional fees
  • A typical payday loan borrower in the U.S takes out eight loans a year, averaging $375 each, with an annual interest of $520

Final Thoughts

Payday loans aren’t the answer to your quick cash needs, especially in states like North Carolina, where they are considered illegal and are prohibited under state law. You should instead consider other loan options like installment loans or personal loans that come with more favorable terms. Always research the lender before taking out a loan to ensure they are operating legally and abide by the state guidelines on lending practices.

F.A.Q.

Why are payday loans illegal in Laurel Springs, North Carolina?

Payday loans are illegal in Laurel Springs, North Carolina because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Laurel Springs, North Carolina?

in Laurel Springs, North Carolina, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.