Payday Loans in Speed, North Carolina

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

Company nameAddressZip codePhone number
Century Finance Inc 1342 N Brightleaf Blvd # A, Smithfield, NC 27577 +1 (919) 938 - 2274
Lendmark Financial Services LLC 2835 Raleigh Rd Pkwy W #105, Wilson, NC 27896 +1 (252) 291 - 6090
Quick Cash Pawn 200-A N Madison Blvd, Roxboro, NC 27573 +1 (336) 597 - 5626
Southern Bank - Kenansville 416 S Main St, Kenansville, NC 28349 +1 (910) 296 - 0210
Approved Cash 55 Orange St, Fair Bluff, NC 28439 +1 (910) 248 - 3222
Nicholos Financial 147 US-70, Garner, NC 27529 +1 (919) 773 - 1620
Security Financial Services 2629 S Horner Blvd, Sanford, NC 27332 +1 (919) 775 - 6067
ACE Cash Express 1100 N Miami Blvd Ste 109, Durham, NC 27703 +1 (919) 682 - 2977
Lendmark Financial Services LLC 2718 Bragg Blvd, Fayetteville, NC 28303 +1 (910) 778 - 5302
Excel Learning Center 6 610 Fontana Blvd, Havelock, NC 28532 +1 (252) 444 - 5309

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Speed, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Fayetteville, NC, Payday Loan Without a Credit Check in Gastonia, NC, Payday Loans in Goldsboro, NC, Payday Loan Without a Credit Check in Greensboro, NC, Payday Loan Without a Credit Check in Greenville, NC, Payday Loans in Hickory, NC, Payday Loans in High Point, NC and Payday Loans in Holly Springs, 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 Speed, NC.

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

27881

Are Payday Loans Legal In Speed, 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

Speed, NC payday loan calculator

Understanding Payday Loans in Speed, North Carolina

Payday loans have long been a controversial subject in the financial world. These types of loans are intended to be short-term solutions for immediate and often unexpected financial difficulties, but they can also lead to long-term financial burdens for those who take them out. It’s important to understand the laws and regulations around payday loans in your state and the potential risks involved.

It’s important to note that payday loans are prohibited in North Carolina. While these loans may be available in other states, including South Carolina, payday loans are not an option for residents of Speed, North Carolina. If you’re in need of financial assistance, there are other options to explore.

What are Payday Loans?

Payday loans are small, short-term loans usually intended to be repaid on the borrower’s next payday. These loans often have high interest rates and fees, which can lead to high overall costs for borrowers. In many cases, borrowers are required to provide the lender with access to their bank account or a post-dated check in order to secure the loan.

While payday loans can be helpful in some cases, they can also lead to a cycle of debt for those who are unable to repay the loan in full on their next payday. In fact, many borrowers end up taking out additional payday loans to cover the cost of their initial loan.

Why are Payday Loans Prohibited in North Carolina?

In 2001, North Carolina became the first state to prohibit payday loans. This was due to concerns around the high interest rates and fees associated with these types of loans, as well as the potential for borrowers to become trapped in a cycle of debt. North Carolina’s payday lending ban has since been upheld by the state’s Attorney General and the North Carolina Supreme Court.

While payday loans are prohibited in North Carolina, there are other options available for those in need of financial assistance. It’s important to explore these options before turning to payday loans or other high-cost loans:

Alternative Options to Payday Loans in North Carolina

1. Personal Loans

Personal loans are one alternative to payday loans. These loans are generally larger and have longer repayment terms than payday loans, which can make them a more affordable option. While personal loans may have lower interest rates than payday loans, borrowers should still be aware of the fees associated with these loans.

2. Credit Cards

For those with good credit, credit cards can be a viable option for short-term borrowing. Many credit cards offer introductory 0% APR periods, which can allow borrowers to make purchases or pay bills without incurring interest. However, it’s important to make payments on time and avoid carrying a balance to avoid high interest charges.

3. Credit Counseling

For those struggling with debt, credit counseling can be a useful resource. Credit counselors can offer guidance on budgeting and debt management, and can help borrowers explore options for debt consolidation or repayment plans.

4. Emergency Assistance Programs

Some communities offer emergency assistance programs for those in need of financial assistance. These programs may provide assistance with housing, utilities, or other basic needs.

Interesting Facts about Payday Loans in Speed, North Carolina

  • North Carolina became the first state to prohibit payday loans in 2001.
  • In 2006, North Carolina’s Attorney General shut down payday lending storefronts in the state, leading to the arrest of payday lenders who continued to operate.
  • The North Carolina State Employees’ Credit Union offers a product called the Salary Advance Loan, which can provide up to $500 in emergency funds to members without the high interest rates associated with payday loans.

Apply Now

If you’re in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and our network of lenders can provide a range of loan options to suit your needs.

Please note that TheGuaranteedLoans is a connector service, not a direct lender. We do not make credit decisions or determine loan terms. Instead, we facilitate connections between borrowers and potential lenders.

If you’re in need of financial assistance in Speed, North Carolina, explore your options and make an informed decision that’s right for your unique financial situation.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Speed, North Carolina?

It is illegal for lenders to offer payday loans in Speed, North Carolina, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Speed, North Carolina?

If you have already taken out a payday loan in Speed, North Carolina, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.