Payday Loans in Westfield, North Carolina

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

Company nameAddressZip codePhone number
USPS Federal Credit Union 1 Floretta Pl, Raleigh, NC 27676 +1 (800) 877 - 7328
Penguin Pawn & Loans Inc 113 E Franklin St, Louisburg, NC 27549 +1 (919) 340 - 2432
First Citizens Bank 110 N Greene St, Snow Hill, NC 28580 +1 (252) 747 - 5838
BB&T 267 2nd St, Ellerbe, NC 28338 +1 (910) 652 - 3181
Walmart Money Center 137 Plaza Dr, Forest City, NC 28043 +1 (828) 287 - 7458
BB&T 8 Raleigh St, Hamlet, NC 28345 +1 (910) 582 - 0184
Shuford Credit Union 12 Falls Ave, Granite Falls, NC 28630 +1 (828) 568 - 1234
Bank of America ATM 122 Harper Ave, Carolina Beach, NC 28428 +1 (844) 401 - 8500
Fifth Third Bank & ATM 4725 Highway 49 South, Harrisburg, NC 28075 +1 (704) 455 - 2141
Select Bank & Trust Loan Production Office 405 Nash St N, Wilson, NC 27893 +1 (252) 702 - 1717

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Westfield, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Jacksonville, NC, Payday Loan Without a Credit Check in Kannapolis, NC, Payday Loans in Matthews, NC, Payday Loans in Monroe, NC, Payday Loans in Mooresville, NC, No Credit Check Loans in Raleigh, NC, Same Day 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 Westfield, NC.

Beautiful sights of Westfield, NC

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

27030, 27041, 27053

Are Payday Loans Legal In Westfield, 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

Westfield, NC payday loan calculator

Understanding The Prohibition of Payday Loans in Westfield, North Carolina

Payday loans are a type of loan that is often taken out by individuals who need quick cash. While they are convenient and easy to obtain, they can also be incredibly expensive, with APR rates reaching as high as 400 percent. Unfortunately for residents of Westfield, North Carolina, payday loans are entirely prohibited in the state, leaving many without access to quick cash when they need it. In this article, we will explore the reasons behind the ban on payday loans in Westfield, North Carolina, and what alternative options are available for those who need quick cash.

The Prohibition of Payday Loans in North Carolina

  • In 2001, North Carolina passed legislation to prohibit payday lending in the state.
  • The North Carolina Consumer Finance Act made it illegal for payday lenders to operate in the state.
  • Payday lending is seen as a predatory practice that takes advantage of consumers in need of quick cash.

The law was put in place to protect consumers from getting trapped in a cycle of debt that is often associated with payday loans. North Carolina has taken a strong stance against payday lending, with the state Attorney General’s office issuing cease and desist letters to payday lenders who attempt to operate in the state.

Alternative Options for Quick Cash

While payday loans may not be an option in Westfield, North Carolina, there are still several alternative options that residents can turn to when they need quick cash. These include:

  • Personal loans from banks or credit unions
  • Credit card cash advances
  • Short-term loans from online lenders
  • Secured loans, such as car title loans

It’s essential to explore all of these options and review the terms carefully to ensure that you are getting the best deal possible and that repayment is manageable. While these options may be more time-consuming than payday loans, they are generally more affordable and less risky.

Interesting Facts and Statistics

  • In 2019, the NC Commissioner of Banks received 304 complaints regarding payday lending in the state.
  • From 2000 to 2006, North Carolina lost over $700 million in predatory fees and interest to payday lenders.
  • The average payday borrower takes out eight loans a year, with a total of 87% taking out more than four loans a year.

These statistics illustrate the negative impact that payday lending has on consumers, highlighting the importance of laws to protect them from such practices.

Apply Now for Alternative Loan Options

If you need quick cash, and are unable to obtain a payday loan in Westfield, North Carolina, there are still plenty of other options available to you. TheGuaranteedLoans can help you connect with potential lenders who may be able to offer you the financial assistance you need. Our service is simple to use, and we strive to match you with lenders who offer reasonable terms and affordable repayment options. Fill out an application on our website today and let us help you find the right loan option for your needs.

Note: TheGuaranteedLoans is a connector service and is not a direct lender. We do not make lending decisions or lend money. We simply connect borrowers with lenders who may be able to provide them with a loan that meets their needs.

F.A.Q.

Can I be arrested for taking out a payday loan in Westfield, North Carolina?

It is unlikely that a borrower would be arrested for taking out a payday loan in Westfield, North Carolina, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in Westfield, North Carolina?

Yes, there are several resources available to help consumers avoid predatory lending in Westfield, North Carolina, including the state's Consumer Financial Protection Bureau, the North Carolina State Banking Department, and the North Carolina City Department of Consumer Affairs.