Payday Loans in Woodleaf, North Carolina

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

Company nameAddressZip codePhone number
Carolina Home Mortgage 1506 E Franklin St, Chapel Hill, NC 27514 +1 (919) 869 - 8200
Glofin 16905 Northcross Dr 300, Huntersville, NC 28078 +1 (888) 502 - 1318
Jackson Hewitt Tax Service 110 N Main St, Warrenton, NC 27589 +1 (434) 447 - 4477
Woodforest National Bank 300 NC-24, Morehead City, NC 28557 +1 (252) 726 - 3851
Movement Mortgage Mark Rawls NMLS 108449 131 Plantation Ridge Dr Ste 510, Mooresville, NC 28117 +1 (704) 506 - 8925
Jackson Hewitt Tax Service 327 W Main St, Havelock, NC 28532 +1 (252) 447 - 3401
BB&T 134 Charlotte Rd, Rutherfordton, NC 28139 +1 (828) 287 - 3395
National Finance Company 900 W Cooksey Dr suite d, Thomasville, NC 27360 +1 (336) 313 - 5428
Self-Help CU 2146 Statesville Blvd, Salisbury, NC 28147 +1 (704) 637 - 6528
AFC Automotive Finance Corp. 85 Bagley Rd, Kenly, NC 27542 +1 (919) 284 - 9706

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Woodleaf, NC, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Wilson, NC, Payday Loans in Winston-Salem, NC, Payday Loans in Apex, NC, Payday Loans in Asheville, NC, Same Day Loans in Burlington, NC, Payday Loans in Cary, NC, Payday Loans in Chapel Hill, NC and Payday Loan Without a Credit Check in Charlotte, 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 Woodleaf, NC.

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

27054

Are Payday Loans Legal In Woodleaf, 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

Woodleaf, NC payday loan calculator

Understanding Payday Loans in Woodleaf, North Carolina

Payday loans are a popular short-term loan option for people who need quick access to cash. These loans are designed to help you cover unexpected expenses, such as car repairs or medical bills, until your next paycheck arrives. However, payday loans are not legal in North Carolina, including in Woodleaf.

Although it is tempting to turn to payday loans for help during a financial hardship, it is important to note that payday loans can come with extremely high interest rates and hidden fees. In North Carolina, the state government has made it illegal for lenders to offer payday loans due to these predatory practices.

Why are Payday Loans Prohibited in North Carolina?

In 2001, North Carolina became the first state in the country to put an end to predatory payday lending practices. The North Carolina General Assembly passed laws to prevent payday lending companies from taking advantage of low-income individuals and families who were struggling to make ends meet.

Payday lending companies were often found to be charging interest rates of up to 400% or more, and using hidden fees to trap customers into a cycle of debt. These laws successfully banned payday lending in North Carolina, making it impossible for companies to offer payday loans in the state – including in Woodleaf.

Alternatives to Payday Loans in Woodleaf

Fortunately, there are legal and safe alternatives to payday loans available to individuals and families who need financial assistance. These alternatives include:

  • Credit Counseling: Non-profit credit counseling agencies can help you create a budget, negotiate with creditors, and develop a long-term plan for getting out of debt.
  • Installment Loans: Installment loans allow you to borrow a larger sum of money than payday loans and repay it over time in smaller, more manageable payments.
  • Personal Loans: If you have good credit, you may qualify for a personal loan with a lower interest rate than a payday loan. These loans are typically offered by traditional banks and credit unions.

It is important to do your research and compare the costs and fees associated with each loan option before making a decision. In addition, it is important to work with a reputable lender who follows all state and federal laws.

Interesting Facts about Payday Loans in Woodleaf, North Carolina

  • Payday loans are banned in 14 states across the United States, including North Carolina.
  • According to a report from the Center for Responsible Lending, payday loans in North Carolina cost borrowers $457 million in fees between 1997 and 2015.
  • In 2018, the average payday loan borrower in North Carolina had an income of $22,000 per year.

Apply Now with TheGuaranteedLoans

If you are in need of a short-term loan in Woodleaf, North Carolina, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we work with a network of reputable lenders who offer a variety of loan options, including installment loans and personal loans.

Please keep in mind that we are not a direct lender and we do not make lending decisions. However, we can help you complete an online application and connect you with lenders who may be able to offer you the loan you need.

If you are interested in learning more, please visit our website to start your application today.

F.A.Q.

Are payday loans legal in Woodleaf, North Carolina?

No, payday loans are not legal in Woodleaf, North Carolina. In fact, the state has some of the strictest laws in the country when it comes to payday lending, and it is one of only a few states that completely prohibits the practice.

What are the consequences of taking out a payday loan in Woodleaf, North Carolina?

Taking out a payday loan in Woodleaf, North Carolina is illegal, and violators can face significant penalties, including fines, jail time, and the revocation of their business license.