Payday Loans in Montreat, North Carolina

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

Company nameAddressZip codePhone number
Time Financing Service 5268 Hwy 70 W # B, Morehead City, NC 28557 +1 (252) 808 - 3070
State Employees' Credit Union 923 Seaside Rd SW, Ocean Isle Beach, NC 28469 +1 (910) 579 - 5500
Mid-East Acceptance Corporation 700 Church St, Ahoskie, NC 27910 +1 (252) 332 - 2331
First Citizens Bank 301 W Broad St, Elizabethtown, NC 28337 +1 (910) 862 - 4027
Cape Fear Finance Co 118 Gillespie St, Fayetteville, NC 28301 +1 (910) 483 - 6010
State Employees' Credit Union 1900 NC-119, Mebane, NC 27302 +1 (919) 304 - 2777
North Carolina Community Federal Credit union 2401 Ash Street, Goldsboro, NC 27534 +1 (919) 734 - 8224
Truliant Federal Credit Union ATM 21714 Catawba Ave 6a, Cornelius, NC 28031 +1 (704) 522 - 1955
Universal Finance, Inc 176 Wilkesboro Blvd NE, Lenoir, NC 28645 +1 (828) 759 - 0007
Pawn South 103 W Seaboard St, Bladenboro, NC 28320 +1 (910) 863 - 2600

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Montreat, NC

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

28757

Are Payday Loans Legal In Montreat, 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

Montreat, NC payday loan calculator

Understanding Payday Loans in Montreat, North Carolina

If you’re in need of quick cash and you’re considering a payday loan, you should know that payday loans are prohibited in North Carolina. While many other states allow payday loans, North Carolina has outlawed these types of loans in an effort to protect its residents from exorbitant fees and interest rates.

In this article, we will explain what payday loans are and why they are prohibited in Montreat, North Carolina. We will also discuss alternative options that may be available to you when you need to borrow money quickly.

What are Payday Loans?

Payday loans are small, short-term, high-interest loans that are typically due on the borrower’s next payday. These loans are designed to provide borrowers with quick access to cash to cover unexpected expenses or emergencies. Payday loans are attractive to many people because they are easy to get and do not require a credit check. However, these loans come with high fees and interest rates, which can make them difficult to repay.

Payday Loans in Montreat, North Carolina

While many other states allow payday loans, North Carolina has prohibited them. In 2001, the North Carolina General Assembly passed the North Carolina Consumer Finance Act, which made it illegal for lenders to offer payday loans in the state.

The North Carolina Commissioner of Banks has been vigilant in enforcing this law. In 2011, the commissioner ordered all payday lenders to cease and desist from making loans in North Carolina. Some lenders attempted to offer payday loans online, but the commissioner was able to shut down these operations as well.

The reason for the ban on payday loans in North Carolina is simple: these loans are designed to trap borrowers in a cycle of debt. The fees and interest rates on payday loans are so high that many borrowers are unable to repay the loan in full when it is due. Instead, they end up rolling over the loan, which means that they pay additional fees and interest without ever paying down the principal.

Alternative Options

If you’re in need of quick cash and you’re in Montreat, North Carolina, there are alternative options to payday loans. These options include:

  • Credit unions: Many credit unions offer short-term loans at lower interest rates than payday loans. You may also be able to find credit unions that offer payday alternative loans, which have lower fees and interest rates than traditional payday loans.
  • Personal loans: Personal loans from banks or online lenders may be a better option if you need to borrow a larger sum of money. These loans typically have lower interest rates than payday loans, and you may have more time to repay the loan.
  • Credit cards: If you have a credit card with available credit, using it to cover your unexpected expenses may be a better option than taking out a payday loan. Credit cards typically have lower interest rates and more flexible repayment terms than payday loans.

Facts and Statistics

  • In North Carolina, the average payday loan has an interest rate of 365%.
  • In 2019, North Carolina residents paid over $457 million in payday loan fees.
  • Approximately 76% of payday loans in North Carolina are taken out to cover recurring expenses, such as utility bills and rent.

Source: North Carolina Commissioner of Banks

Apply Now

If you’re in need of quick cash, TheGuaranteedLoans can help. As a connector service, we can facilitate your connection with potential lenders who may be able to provide you with the funds you need. Our online application process is quick and easy, and you may be able to receive funding as soon as the next business day.

Remember, payday loans are prohibited in North Carolina, but there are alternative options available to you. Take the time to research your options and choose the loan that best fits your needs and budget.

Disclaimer: TheGuaranteedLoans is not a lender and does not make credit decisions. Our service is designed to connect potential borrowers with lenders and financial service providers.

F.A.Q.

Can a payday loan company file a lawsuit against me in Montreat, North Carolina?

No, a payday loan company cannot file a lawsuit against you in Montreat, North Carolina because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in Montreat, North Carolina?

Yes, there are federal laws that apply to payday loans in Montreat, North Carolina, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.