Payday Loans in Mount Holly, North Carolina

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

Company nameAddressZip codePhone number
Navy Federal Credit Union 2698 NC 24-87, Unit A02, Cameron, NC 28326 +1 (888) 842 - 6328
Turner Finance Co 24 S Brady Ave, Newton, NC 28658 +1 (828) 464 - 0616
Quality Finance Co Inc 721 N Brightleaf Blvd, Smithfield, NC 27577 +1 (919) 934 - 1111
Carter Bank & Trust 697 Country Club Dr, Fayetteville, NC 28301 +1 (910) 630 - 2500
Joel Adams - Raymond James 545 Merrimon Ave, Asheville, NC 28804 +1 (828) 251 - 9700
Quick Cash Pawn of Hickory 430 Conover Blvd W, Conover, NC 28613 +1 (828) 465 - 2965
BB&T 609 S Main St, Reidsville, NC 27320 +1 (336) 634 - 4925
Wells Fargo Home Mortgage 200 1st Ave NW, Hickory, NC 28601 +1 (828) 323 - 2003
ABNB Federal Credit Union U. S. Coast Guard Base - Elizabeth City, Building 998, Elizabeth City, NC 27909 +1 (252) 338 - 1681
Marine Federal Credit Union 1231 Birch St, Camp Lejeune, NC 28547 +1 (910) 577 - 7333

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mount Holly, NC, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Burlington, NC, Payday Loans in Cary, NC, Payday Loans in Chapel Hill, NC, Payday Loans in Charlotte, NC, No Credit Check Loans in Concord, NC, Payday Loans in Durham, NC, Payday Loans in Fayetteville, NC and Payday Loan Without a Credit Check in Gastonia, 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 Mount Holly, NC.

Beautiful sights of Mount Holly, NC

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

28120

Are Payday Loans Legal In Mount Holly, 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

Mount Holly, NC payday loan calculator

Payday loans have become a popular option for many people in need of quick cash. Unfortunately, in Mount Holly, North Carolina, payday loans are prohibited. While it can be frustrating to not have access to this type of financial assistance, it is important to understand the reasons behind the ban and to explore alternative options for those in need.

What are payday loans?

Payday loans, also known as cash advances or paycheck advances, are typically small loans that are meant to be repaid on the borrower’s next payday. These loans are often marketed as a way for people to access quick cash in emergency situations.

The process for applying for a payday loan is typically quite simple. Borrowers provide proof of income and a post-dated check or authorization for electronic withdrawal from their bank account. In exchange, they receive the cash they need. The repayment terms are typically very short, and interest rates can be high – sometimes up to 400% or more.

Why are payday loans prohibited in Mount Holly, North Carolina?

While payday loans may seem like a convenient option for those in need of quick cash, they can actually be quite dangerous. In North Carolina, payday loans were banned in 2001 by the state’s General Assembly, due largely to concerns about the high interest rates and potential for predatory lending practices.

The state’s Consumer Finance Act made it illegal for lenders to charge an annual percentage rate (APR) exceeding 36%. The law also prohibits lenders from making loans without a license and requires them to provide written contracts for all loans.

Ultimately, the goal of the ban on payday loans in North Carolina is to protect consumers from the cycle of debt that can be caused by these high-interest loans.

Alternative options for those in need of quick cash

While payday loans may not be an option in Mount Holly, North Carolina, there are alternative options for those in need of quick cash. Some of these options include:

  • Personal loans from a bank or credit union
  • Credit card cash advances
  • Short-term loans from a reputable online lender
  • Borrowing from family or friends

It is important to carefully consider all of these options and to choose the one that is the best fit for your financial situation.

Interesting facts and statistics about payday loans in Mount Holly, North Carolina

  • As of 2021, payday loans are illegal in North Carolina.
  • The state’s Consumer Finance Act sets a maximum APR of 36% on all loans.
  • In states where payday loans are legal, the average APR is often much higher than 36%.
  • The average payday loan borrower takes out 8 loans per year, with each loan averaging $375.
  • Payday loans are often used by people who are already in debt and struggling to make ends meet.

Apply Now

If you are in need of quick cash in Mount Holly, North Carolina, TheGuaranteedLoans can help connect you with potential lenders. Please keep in mind that we are a connector service, not a direct lender. By filling out our online application, you can get access to a variety of loan options from reputable lenders. Apply now to see what loan options might be available to you.

Remember, payday loans may not be an option in Mount Holly, North Carolina, but there are alternative options available. Be sure to explore all of your options and choose the one that is the best fit for your situation.

F.A.Q.

Can I be charged with a crime for taking out an illegal payday loan in Mount Holly, North Carolina?

No, taking out an illegal payday loan in Mount Holly, North Carolina is not a crime. However, the lender may face legal consequences for offering illegal loans.

Can I be sued for not paying back an illegal payday loan in Mount Holly, North Carolina?

No, you cannot be sued for not paying back an illegal payday loan in Mount Holly, North Carolina.