Payday Loans in Waco, North Carolina

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

Company nameAddressZip codePhone number
Telco Community Credit Union 1141 Smokey Park Hwy, Candler, NC 28715 +1 (828) 252 - 6458
PNC Bank 203 Washington St, Whiteville, NC 28472 +1 (910) 640 - 5400
Security Financial Services 2629 S Horner Blvd, Sanford, NC 27332 +1 (919) 775 - 6067
Lendmark Financial Services LLC 269 Premier Blvd, Roanoke Rapids, NC 27870 +1 (252) 537 - 9990
James Madison - Mortgage Advisor - United Federal Credit Union 1441 Patton Ave, Asheville, NC 28806 +1 (828) 708 - 6547
National Finance Company 3808 Guess Rd Suite E, Durham, NC 27705 +1 (919) 477 - 8885
Uwharrie Bank 211 S Greene St, Wadesboro, NC 28170 +1 (704) 694 - 2122
West Mountain Pawn 214 W Mountain St, Kernersville, NC 27284 +1 (336) 996 - 7296
Dolex Dollar Express 903 S Brightleaf Blvd, Smithfield, NC 27577 +1 (919) 989 - 6841
Southern Loans 3201 S Memorial Dr, Greenville, NC 27834 +1 (252) 493 - 0160

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Waco, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Concord, NC, Online Loans in Durham, NC, Emergency Loan in Fayetteville, NC, Payday Loans in Gastonia, NC, Online Loans in Goldsboro, NC, Payday Loans in Greensboro, NC, Payday Loan Companies in Greenville, NC and Payday Loan Companies in Hickory, 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 Waco, NC.

Beautiful sights of Waco, NC

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

28169

Are Payday Loans Legal In Waco, 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

Waco, NC payday loan calculator

Understanding Payday Loans in Waco, North Carolina

Payday loans are a type of short-term loan that is typically repaid on the borrower’s next payday. These loans are intended to help individuals cover unexpected expenses, such as medical bills or car repairs. However, in Waco, North Carolina, payday loans are prohibited by law.

While payday lenders are not allowed to operate in the state, that hasn’t stopped some unscrupulous lenders from offering these loans under different names and terms. It’s important to understand the risks associated with payday loans and the alternatives available to residents of Waco.

The Risks of Payday Loans

Payday loans often come with high interest rates and fees, which can make them difficult to repay. For example, the average interest rate on a payday loan in North Carolina is 300%, which means that a $500 loan could end up costing a borrower $1,500 in total payments.

In addition to the high costs, payday loans can also lead to a cycle of debt. This occurs when borrowers are unable to repay the loan on their next payday and are forced to take out another loan to cover the original loan’s fees and interest. This can quickly become a financial burden that is difficult to escape.

Alternatives to Payday Loans

If you find yourself in need of emergency funds, there are alternatives to payday loans. For example, you can consider using a credit card or borrowing from a friend or family member. If those options aren’t available to you, you can also consider the following:

  • Personal Loans: Personal loans are another option for those in need of emergency funds. These loans typically have lower interest rates than payday loans and can be repaid over a longer period of time.
  • Credit Union Loans: Some credit unions offer small-dollar loans to their members. These loans often have lower interest rates than traditional payday loans and can be a good alternative for those who are members of a credit union.
  • Government Programs: Depending on your circumstances, you may be eligible for government assistance programs that can help you cover your expenses. For example, you may qualify for food stamps or housing assistance.

Facts about Payday Loans in Waco, North Carolina

As mentioned earlier, payday loans are prohibited in North Carolina. The North Carolina Attorney General’s office has enforced the state’s payday lending laws since 2001. While some lenders have attempted to circumvent these laws by offering loans under different names and terms, the state has been vigilant in enforcing the laws.

In 2017, the North Carolina Attorney General’s office reached a settlement with payday lender Advance America. The settlement required the lender to pay $18.75 million in refunds to North Carolina consumers who were charged excessive fees on their loans.

Apply Now

If you’re in need of emergency funds, TheGuaranteedLoans can help you connect with potential lenders. We are a connector service that pairs borrowers with lenders who may be able to offer them a loan that meets their needs. To get started, simply fill out an online application on our website.

Please note that TheGuaranteedLoans is not a direct lender and does not make loan decisions. Instead, we work with a network of lenders who may be able to offer loans to borrowers in Waco, North Carolina.

Conclusion

While payday loans are prohibited in Waco, North Carolina, there are still risks associated with these loans. If you find yourself in need of emergency funds, it’s important to explore all of your options and choose the one that is right for you. By working with TheGuaranteedLoans, you can connect with potential lenders who may be able to help you get the funds you need.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Waco, North Carolina?

No, because payday loans are illegal in Waco, North Carolina, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Waco, North Carolina?

Yes, the state of North Carolina has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.