Payday Loans in Ridgeway, North Carolina

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

Company nameAddressZip codePhone number
Welcome Finance Co 730 4th St SW, Hickory, NC 28602 +1 (828) 328 - 2531
Weyco Community Credit Union 1785 Weyerhaeuser Rd, Vanceboro, NC 28586 +1 (252) 514 - 4931
Walmart Money Center 841 E Gannon Ave, Zebulon, NC 27597 +1 (919) 269 - 2221
First Citizens Bank 540 NC-105 Extension, Boone, NC 28607 +1 (828) 264 - 7353
Fifth Third Bank & ATM 201 N Charlotte Ave, Monroe, NC 28112 +1 (704) 289 - 9555
HomeTrust Bank - Clyde 8583 Carolina Blvd, Clyde, NC 28721 +1 (828) 627 - 9621
First Citizens Bank 36 US-64 East, Hayesville, NC 28904 +1 (828) 389 - 8024
Picasso Pawn 5030 Market St, Wilmington, NC 28405 +1 (910) 452 - 2274
Oxford Credit Union 128 College St, Oxford, NC 27565 +1 (919) 693 - 7151
Skyline National Bank 1055 Mt Jefferson Rd, West Jefferson, NC 28694 +1 (866) 773 - 2811

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Ridgeway, 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

Ridgeway, NC payday loan calculator

Payday loans can be a tempting prospect when faced with an unexpected bill or expense. But in North Carolina, including Ridgeway, they’re illegal.

What are payday loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. They come with high interest rates and fees, and can trap consumers in a cycle of debt. In North Carolina, the state has decided to prohibit payday lending as a means of protecting consumers from predatory lending practices.

Why are payday loans illegal in North Carolina?

The state’s decision to ban these loans comes as a response to reports of unfair and abusive lending practices. Prior to the ban, payday lenders would charge exorbitant interest rates – as high as 400% – that virtually guaranteed borrowers would fall into debt. By banning payday lending, North Carolina has taken a stand against these predatory lending practices, protecting its citizens’ financial well-being.

Protections for North Carolina consumers

Along with the ban of payday loans, North Carolina has set up a few measures to protect consumers from being misled by lenders. There is a limit on the interest rate brokers can charge, and the state sets up certain regulations that protect borrowers from being charged unfair penalties or fees. The state also provides unbiased financial advice to help individuals and families better manage their finances in the long run.

Why you should stay away from payday loans in Ridgeway, North Carolina

While payday loans may seem like a quick and easy solution to financial woes, borrowers who take out these loans may find themselves in a difficult situation. Payday loans in Ridgeway, North Carolina, are not regulated and can cause more harm than good. Instead, it is essential to stay away from payday loans altogether and seek alternative means of dealing with unexpected expenses. For instance, drawing from emergency funds for unexpected bills or using a credit card rather than opting for a payday loan.

Interesting facts and statistics about payday loans in Ridgeway, North Carolina

  • There are no payday lenders operating legally in North Carolina since payday loans are banned in the state under the North Carolina General Statutes § 53-281 and North Carolina Consumer Finance Act N.C. Gen. Stat. § 53-173, which caps the interest rate that lenders can charge.
  • The ban on payday loans in North Carolina started in 2001 by a law passed by the state’s legislature in response to fraud complaints filed by consumers.
  • Unlike other states with payday loan bans, such as Connecticut and Massachusetts, North Carolina’s ban is permanent and there is no expiration date for the statute.
  • According to a survey, in 2018, 42% of North Carolina residents also think payday loans should be illegal, while 28% are unsure and only 30% say they should be legal.

Apply Now for quick and easy access to loans

Don’t let a lack of cash stand between you and your financial goals. When unexpected expenses arise, you can turn to TheGuaranteedLoans to connect you with potential lenders in Ridgeway and throughout North Carolina. Our online application process is quick and easy allowing you to get a loan with just a few clicks of a button. Our network consists of lenders that provide personal loans for bad credit, installment loans, and more with varying interest rates and loan terms to find the best option for you. Fill out our online application today and get started on your path to financial stability.

Please note that we are a loan connector service and not a direct lender and we do not make credit decisions. Instead, we facilitate connections between borrowers and lenders.

F.A.Q.

Can a payday loan company report me to a credit bureau in Ridgeway, North Carolina?

No, a payday loan company cannot report you to a credit bureau in Ridgeway, North Carolina because these loans are illegal in the state.

Can a payday loan company take me to court in Ridgeway, North Carolina?

No, a payday loan company cannot take you to court in Ridgeway, North Carolina because these loans are illegal in the state.