Payday Loans in Union Mills, North Carolina

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

Company nameAddressZip codePhone number
Southern Bank 101 N King St, Windsor, NC 27983 +1 (252) 794 - 3011
Fidelity Bank 114 W 2nd Ave, Lexington, NC 27292 +1 (336) 249 - 8111
BB&T 1204 N Arendell Ave, Zebulon, NC 27597 +1 (919) 269 - 7476
Redwallet 1648 Memorial Dr, Burlington, NC 27215 +1 (800) 689 - 1387
First National Bank 1404 W D St, North Wilkesboro, NC 28659 +1 (336) 838 - 3300
First Bank - Albemarle Eastgate, NC 1910 E Main St, Albemarle, NC 28001 +1 (704) 982 - 4949
Universal Finance 1038 Lenoir Rhyne Blvd SE, Hickory, NC 28602 +1 (828) 267 - 0005
Self-Help Credit Union 217 Catawba Ave, Old Fort, NC 28762 +1 (828) 668 - 7561
Woodforest National Bank 805 Town Centre Blvd, Clayton, NC 27520 +1 (919) 550 - 3220
First Citizens Bank 607 Plaza Blvd, Kinston, NC 28501 +1 (252) 939 - 3024

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Union Mills, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Rocky Mount, NC, Online Loans in Salisbury, NC, Payday Loans in Wake Forest, NC, Guaranteed Loans in Wilmington, NC, Payday Loans in Wilson, NC, 24-Hour Loan in Winston-Salem, NC, Payday Loans in Apex, NC and Payday Loans in Asheville, 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 Union Mills, NC.

Are Payday Loans Legal In Union Mills, 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

Union Mills, NC payday loan calculator

The truth about payday loans: Understanding Payday Loans in Union Mills, North Carolina

At some point, you may have found yourself in a situation where you needed immediate cash to cover an unexpected expense. Maybe your car broke down, or you had a medical emergency, and you didn’t have the money to cover the bills. If you’re in Union Mills, North Carolina, you may have considered a payday loan as an option.

However, payday loans are prohibited in North Carolina, and for a good reason. The state recognized that the high fees and interest rates charged by payday lenders were leaving individuals trapped in a cycle of debt, unable to pay back their loans on time.

It’s essential to understand how payday loans work, the risks associated with them, and the alternatives available to you if you’re in need of financial assistance.

How do payday loans work?

Payday loans are short-term loans designed to help cover immediate expenses until your next paycheck. Typically, lenders require that borrowers provide a post-dated check or access to their bank account to receive the loan.

The lender processes the loan, and when the loan is due, they will deposit the check or withdraw funds from the borrower’s bank account. If the borrower is unable to pay back the loan, they extend the loan by charging additional fees and interest.

Why are payday loans prohibited in North Carolina?

In 2001, North Carolina became the first state to ban payday lending. The state recognized that payday loans trap borrowers in a cycle of debt, making it challenging to recover financially. Payday loans can have interest rates as high as 400%, making it nearly impossible for borrowers to pay back the loan on time.

Additionally, payday lenders often target low-income communities and individuals with poor credit history, leaving them vulnerable to the high fees and interest rates.

What are the alternatives to payday loans?

If you’re in need of immediate financial assistance, there are alternatives to payday loans available:

  • Credit union loans – Credit unions offer small, low-interest loans to their members. If you’re not a member, consider joining one in your area.
  • Federal Assistance Programs – There are many federal assistance programs available that can help cover expenses such as housing, medical bills, and food assistance.
  • Personal loans – Personal loans are typically longer-term and have lower interest rates than payday loans. You can consider online lenders or your local bank or credit union.
  • Credit Counseling – Credit counseling services can help you create a budget, manage your debt, and find other financial resources to help meet your needs.

Interesting Facts about Payday Loans in Union Mills, North Carolina

Here are some interesting facts and statistics about payday loans in Union Mills, North Carolina:

  • In 2021, North Carolina Attorney General announced that they had won a $9M case against ACE Cash Express for deceptive practices and illegal debt collection related to payday loans in North Carolina.
  • In 2016, the Center for Responsible Lending estimated that there were no payday loan storefronts in North Carolina, but online lenders were still targeting the state illegally.

Apply Now!

If you’re in need of financial assistance, we encourage you to fill out an online application on TheGuaranteedLoans website. Remember, we are a connector service, not a direct lender, and we will facilitate your connection with potential lenders.

Our online application process is fast, easy, and secure. You can complete the application from the comfort of your own home, and receive funds as soon as the next business day.

Don’t fall into the trap of payday loans. Let us help you find a better alternative today!

F.A.Q.

Can I be sued for not paying back a payday loan in Union Mills, North Carolina?

Because payday loans are illegal in Union Mills, North Carolina, lenders cannot sue borrowers for not paying back the loan. However, borrowers may still be responsible for paying back any money they borrowed, even if the loan was illegal.

Can payday loan lenders garnish my wages in Union Mills, North Carolina?

No, payday loan lenders cannot garnish your wages in Union Mills, North Carolina because payday loans are illegal in the state.