Payday Loans in Tobaccoville, North Carolina

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

Company nameAddressZip codePhone number
First Citizens Bank 960 NC-210, Sneads Ferry, NC 28460 +1 (910) 327 - 1371
Pinnacle Financial Partners 1700 Dickerson Blvd, Monroe, NC 28110 +1 (704) 290 - 3010
State Employees' Credit Union 1729 E Dixon Blvd, Shelby, NC 28152 +1 (704) 482 - 4492
Hard Times Jewelry & Pawn 106 E Dabney Dr, Henderson, NC 27536 +1 (252) 492 - 3133
SunTrust 8121 Mallard Creek Rd, Charlotte, NC 28269 +1 (980) 215 - 7702
Allegacy Federal Credit Union 256 Hospital St, Mocksville, NC 27028 +1 (336) 830 - 8600
Fidelity Bank 112 US-401, Raeford, NC 28376 +1 (910) 875 - 5061
Hanover Financial Services Inc 4230 Market St, Wilmington, NC 28403 +1 (910) 790 - 9322
BB&T 930 Western Blvd, Tarboro, NC 27886 +1 (252) 641 - 6700
Uwharrie Bank 624 N Main St 0539, Oakboro, NC 28129 +1 (704) 485 - 3435

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tobaccoville, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Jacksonville, NC, Payday Loans in Kannapolis, NC, Online Loans in Matthews, NC, Payday Loan Without a Credit Check in Monroe, NC, Payday Loan Without a Credit Check in Mooresville, NC, Payday Loan for Raleigh, NC, Short-term Loans in Rocky Mount, NC and Payday Loans in Salisbury, 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 Tobaccoville, NC.

Beautiful sights of Tobaccoville, NC

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

27050

Are Payday Loans Legal In Tobaccoville, 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

Tobaccoville, NC payday loan calculator

Payday Loans in Tobaccoville, North Carolina – Know Your Options

Life is full of surprises, and it’s not always a smooth ride. Sometimes unexpected expenses occur, and it can be a challenge to find the funds to deal with them. In times like these, you might be tempted to take out a payday loan to cover the costs. However, it is essential to understand that payday loans are prohibited in North Carolina. In this article, we will explore the consequences of taking out payday loans in Tobaccoville, North Carolina, and what alternatives you have.

What are Payday Loans?

Payday loans are typically short-term loans that require you to repay the loan, plus interest, with your next paycheck. In many cases, payday loans are marketed to individuals with poor credit who need quick cash. However, due to their high-interest rates and fees, payday loans are often considered a predatory lending practice, leading to a cycle of debt that is hard to break.

Why are Payday Loans Prohibited in North Carolina?

In 2001, the North Carolina state legislature passed the Consumer Finance Act, which put a 36% cap on interest rates for small loans. This included payday loans, making it illegal for lenders to offer these types of loans in the state. The state believed that these loans were harmful to consumers and perpetuated a cycle of debt.

What are the Consequences of Taking out Payday Loans in Tobaccoville, North Carolina?

Because payday loans are illegal in North Carolina, taking one out can lead to significant consequences. If you take out a payday loan, you will not be protected by the state’s usury laws. This means that the lender can charge you exorbitant interest rates and fees, leading to a significant financial burden.

If you take out a payday loan and are unable to repay it on time, the lender may take legal action against you. In addition, they may report your delinquency to credit reporting agencies, damaging your credit score and future opportunities for credit.

What Are Your Alternative Options?

Although payday loans are not an option in Tobaccoville, North Carolina, there are alternatives available that can help you get through a financial crunch. These include:

  • Personal Loans: You may be able to secure a personal loan through a bank or credit union. These loans typically have lower interest rates and longer repayment terms than payday loans.
  • Credit Cards: If you have a credit card with available credit, this can be a good option to cover unexpected expenses. Just be sure to pay off the balance as soon as possible to avoid high-interest rates.
  • Negotiate Payment Plans: If you’re struggling with bills, contact your creditors and ask if they offer payment plans to help you get caught up.
  • Emergency Assistance Programs: Some community organizations offer emergency assistance programs that can help you cover expenses like rent, utilities, and food.
  • Borrow from Family or Friends: If you have family or friends who are willing to loan you money, this can be a good option to get through a rough patch.

Interesting Facts and Statistics about Payday Loans in Tobaccoville, North Carolina

  • The average payday loan in North Carolina had an interest rate of 365% in 2019.
  • Payday loan borrowers in North Carolina are predominantly female and aged 25-29.
  • Around 80% of payday loans in North Carolina are for repeat borrowers.
  • The majority of payday loan borrowers in North Carolina use the loans for basic living expenses, such as rent or food.

Apply Now with TheGuaranteedLoans

If you are in need of financial assistance, remember that payday loans are not an option in Tobaccoville, North Carolina. Instead, consider one of the alternative options we’ve outlined above. If you need help finding a lender that meets your needs, you can use our loan connection service at TheGuaranteedLoans. We will connect you with potential lenders who can offer the financial support you need. Please note that TheGuaranteedLoans is a connector service, not a direct lender.

Don’t let unexpected expenses take control of your life. Take control by making informed decisions about your financial needs.

F.A.Q.

Are payday loans legal in Tobaccoville, North Carolina?

No, payday loans are prohibited in Tobaccoville, North Carolina.

What are the alternatives to payday loans in Tobaccoville, North Carolina?

Some options for short-term financial assistance in Tobaccoville, North Carolina include credit union loans, personal loans from banks or online lenders, or borrowing from friends or family.