Payday Loans in Winfall, North Carolina

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

Company nameAddressZip codePhone number
Regional Finance 2403 Battleground Ave #10, Greensboro, NC 27408 +1 (336) 286 - 3426
Raymond James Financial Services 4145 Fayetteville Rd, Lumberton, NC 28358 +1 (910) 739 - 8930
State Employees' Credit Union 233 N Lee Ave, Yadkinville, NC 27055 +1 (336) 679 - 2727
ALCOVA Mortgage Weaverville, NC 22 N Main St, Weaverville, NC 28787 +1 (828) 552 - 8347
Champion Credit Union 1615 4 Seasons Blvd, Hendersonville, NC 28792 +1 (828) 648 - 1515
ACE Cash Express 718 Ward Blvd, Wilson, NC 27893 +1 (252) 291 - 5062
Walmart Money Center 5625 NC-41 Hwy, Wallace, NC 28466
First Citizens Bank 1070 Vision Dr, Apex, NC 27523 +1 (919) 363 - 6353
Welcome Finance Co Loans 112 W Center St, Mebane, NC 27302 +1 (919) 563 - 5501
Security Financial Services 720 NC 24 27 Byp E, Ste 16, Albemarle, NC 28001 +1 (704) 982 - 9501

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Winfall, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Goldsboro, NC, 24-Hour Loan in Greensboro, NC, Payday Loan Companies in Greenville, NC, Payday Loans in Hickory, NC, Emergency Loan in High Point, NC, Payday Loans in Holly Springs, NC, Short-term Loans in Huntersville, NC and Emergency Loan in Indian Trail, 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 Winfall, NC.

Beautiful sights of Winfall, NC

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

27985

Are Payday Loans Legal In Winfall, 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

Winfall, NC payday loan calculator

The Truth About Payday Loans in Winfall, North Carolina

Payday loans are a type of short-term loan that typically must be repaid on the borrower’s next payday. These loans have gained popularity over the years, especially among those who have poor credit or cannot get approved for traditional bank loans.

However, it is important to note that in North Carolina, payday loans are actually prohibited. This means that if you are living in Winfall or anywhere else in the state, you will not be able to legally obtain a payday loan.

Why Are Payday Loans Banned in North Carolina?

Back in 2001, North Carolina passed a law that made it illegal for businesses to offer payday loans to consumers. The main reason for this is that these loans often come with extremely high interest rates and fees that can trap borrowers in a cycle of debt.

According to the North Carolina Attorney General’s office, payday lenders charged interest rates of as much as 400% in the state before the ban. This meant that borrowers were often stuck paying off their original loan over and over again, accumulating more and more debt as time went on.

Alternatives to Payday Loans in Winfall, North Carolina

While payday loans may be off the table in North Carolina, there are still plenty of other types of loans that consumers can consider if they need money quickly. Here are a few examples:

  • Credit cards: If you have a credit card, you may be able to use it to cover unexpected expenses. Just be aware that credit cards often come with high interest rates of their own.
  • Personal loans: Some banks and credit unions offer personal loans, which can be a good alternative to payday loans if you need to borrow money quickly. These loans typically come with lower interest rates and longer repayment terms than payday loans.
  • Family and friends: If you have friends or family members who are willing to loan you money, this can be a good option as well. Just be sure to treat the loan as a formal agreement and make sure both parties are clear on the terms.

Interesting Facts About Payday Loans in Winfall, North Carolina

  • Nationally, the average payday loan borrower ends up paying back $793 for a $325 loan.
  • In North Carolina, the state government has been successful in keeping payday lenders out of the state. However, some online lenders still attempt to target North Carolina residents with these loans.
  • The Consumer Financial Protection Bureau (CFPB) estimates that 80% of payday loans are rolled over into a new loan within two weeks or less.

Apply Now

While payday loans are not an option for residents of Winfall or North Carolina, TheGuaranteedLoans can help connect you with potential lenders offering other types of loans, such as personal loans or installment loans. Simply fill out our online application form and we will match you with a lender who may be able to meet your needs.

It is important to note that TheGuaranteedLoans is not a direct lender and does not make lending decisions. Instead, we are a connector service that helps consumers find potential lenders who may be willing to offer them a loan.

Conclusion

While payday loans may seem like an easy way to get cash quickly, they often come with high interest rates and fees that can trap borrowers in a cycle of debt. Fortunately, residents of Winfall and North Carolina have other options available to them, such as personal loans and credit cards. If you are in need of money quickly, be sure to explore all of your options carefully and only borrow what you can afford to pay back.

F.A.Q.

What should I do if a payday loan lender is threatening me with legal action in Winfall, North Carolina?

If a payday loan lender is threatening you with legal action in Winfall, North Carolina, you should contact the North Carolina State Department of Financial Services to report the lender's actions. The department may be able to help you resolve the issue and protect your rights.

Is it possible to get a payday loan from a lender in another state and use it in Winfall, North Carolina?

No, it is not possible to get a payday loan from a lender in another state and use it in Winfall, North Carolina. Payday loans are illegal in Winfall, North Carolina, regardless of where the lender is located.