Payday Loans in Magnolia, North Carolina

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

Company nameAddressZip codePhone number
SunTrust Bank 236 S Main St, Graham, NC 27253 +1 (336) 290 - 8072
Time Financing Service 123 S Lamar St, Roxboro, NC 27573 +1 (336) 597 - 4444
Aisle Pawn Shop 216 N Main St, Mooresville, NC 28115 +1 (704) 663 - 5656
Metrolina Credit Co 845 Church St N # 106, Concord, NC 28025 +1 (704) 792 - 1300
First National Bank 4638 Hicone Rd, Greensboro, NC 27405 +1 (336) 375 - 1288
State Employees' Credit Union 809 N Smithfield Rd, Knightdale, NC 27545 +1 (919) 266 - 6213
Regions Bank 19430 W Catawba Ave, Cornelius, NC 28031 +1 (704) 897 - 8680
SunTrust Mortgage 1100 Town Lake Dr, Leland, NC 28451 +1 (910) 371 - 1421
Carolina Farm Credit 1159 NC-86, Yanceyville, NC 27379 +1 (336) 694 - 4622
Friendly Cash for Gold 408 Ash Street, Goldsboro, NC 27553 +1 (919) 734 - 5252

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Magnolia, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mooresville, NC, Short-term Loans in Raleigh, NC, Payday Loans in Rocky Mount, NC, Short-term Loans in Salisbury, NC, Payday Loan Without a Credit Check in Wake Forest, NC, Payday Loans in Wilmington, NC, Payday Loans in Wilson, NC and Payday Loans in Winston-Salem, 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 Magnolia, NC.

Beautiful sights of Magnolia, NC

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

28453

Are Payday Loans Legal In Magnolia, 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

Magnolia, NC payday loan calculator

Everything You Need to Know About Payday Loans in Magnolia, North Carolina

There may come a time when you find yourself in a financial bind. Sometimes, unforeseen expenses can wreak havoc on your budget. In situations like these, you may be considering taking out a payday loan. However, it’s important to note that payday loans are illegal in North Carolina, including in the town of Magnolia. In this article, we will go over everything you need to know about payday loans in Magnolia, North Carolina, including alternative options that may be available to you.

What Are Payday Loans?

Payday loans are short-term, high-interest loans that are typically due on your next payday. They are designed to help people cover unexpected expenses or bridge the gap between paychecks. These loans are often easy to obtain, with lenders typically requiring minimal documentation and no credit check. However, they often come with exorbitantly high interest rates that can leave borrowers in an endless cycle of debt.

Payday Loans in Magnolia, North Carolina

While payday loans are legal in some states, they are illegal in North Carolina. This includes in the town of Magnolia. The North Carolina Attorney General’s office warns against using payday loans, as they can trap borrowers in an endless cycle of debt. The state has taken steps to protect its citizens from predatory lending practices, including enacting laws that prohibit payday lending.

Alternative Options to Payday Loans

If you find yourself in need of quick cash, there are alternative options that may be available to you. These include:

  • Credit unions: Many credit unions offer small, short-term loans at lower interest rates than those offered by payday lenders. They may also have programs in place to help members who are struggling financially.
  • Credit counseling: Seeking help from a credit counseling service can help you better manage your finances and develop a plan to pay off debt. They may also be able to negotiate with creditors on your behalf to lower interest rates and payments.
  • Overdraft protection: If you have a checking account, your bank may offer overdraft protection. This service allows you to withdraw more money than you have in your account, up to a certain limit. However, it’s important to read the fine print, as this service may come with fees and high interest rates.
  • Negotiating with creditors: If you are struggling to make payments on existing debt, consider reaching out to your creditors to negotiate new repayment terms. Many creditors are willing to work with borrowers who are making a good faith effort to pay off their debt.

Interesting Facts about Payday Loans in Magnolia, North Carolina

  • North Carolina has one of the lowest maximum interest rates on payday loans in the nation, capping interest rates at 30%.
  • In 2006, North Carolina became the first state to ban payday lending.
  • In 2019, the State Employees’ Credit Union of North Carolina created a program to offer an alternative to payday loans for members who need short-term loans.

Apply Now

If you’re in need of fast cash, don’t turn to a payday lender. Instead, TheGuaranteedLoans can help you connect with potential lenders who may be able to offer you the funds you need. As a connector service, we work with a network of trusted lenders who specialize in short-term loans.

Applying for a loan through TheGuaranteedLoans is easy. Simply fill out our online application and we’ll connect you with lenders who may be able to offer you a loan. Remember, we are not a direct lender, but we will facilitate your connection with potential lenders.

Conclusion

While payday loans may seem like a quick fix for your financial woes, they often come with high interest rates and fees that can leave borrowers in a worse position than before. If you’re considering taking out a payday loan in Magnolia, North Carolina, it’s important to note that they are illegal in the state. However, there are alternative options available to you, including credit unions, credit counseling, and negotiating with creditors. If you’re in need of quick cash, consider applying for a loan through TheGuaranteedLoans. Remember to always read the fine print and make an informed decision before taking out any type of loan.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Magnolia, North Carolina?

No, because payday loans are illegal in Magnolia, North Carolina, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Magnolia, North Carolina?

Yes, the state of North Carolina has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.