Payday Loans in North Miami, Oklahoma

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No payday loan companies in North Miami, OK. Consider companies in other cities:

Company nameAddressZip codePhone number
Choctaw Abstract & Title Co 302 E Jefferson St, Hugo, OK 74743 +1 (580) 326 - 9616
ATM Simmons Bank 220 S Dean A McGee Ave, Wynnewood, OK 73098 +1 (866) 246 - 2400
Red River Credit Corporation 124 W Main St, Ardmore, OK 73401 +1 (580) 223 - 2010
Bell Finance Chandler 118 E 7th St, Chandler, OK 74834 +1 (405) 258 - 2550
World Finance 1007 W Main St, Durant, OK 74701 +1 (580) 924 - 7122
First Bank & Trust Co 111 W Main St, Billings, OK 74630 +1 (580) 336 - 5562
Western-Shamrock Finance 1114 E Jackson St Ste. A, Hugo, OK 74743
EZPAWN 401 S Van Buren St, Enid, OK 73701 +1 (580) 233 - 2274
Red River Credit Corporation 1221 New Sapulpa Rd A, Sapulpa, OK 74066 +1 (918) 224 - 6311
Stride Bank, N.A. 2727 Williams Ave, Woodward, OK 73801 +1 (580) 256 - 8800

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in North Miami, OK, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Lawton, OK, Payday Loan Companies in Muskogee, OK, No Credit Check Loans in Norman, OK, Online Loans in Oklahoma City, OK, Payday Loans in Owasso, OK, No Credit Check Loans in Shawnee, OK, Payday Loan Without a Credit Check in Stillwater, OK and Payday Loans in Tulsa, OK. 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 North Miami, OK.

Payday Loans Available in North Miami, OK By The Following ZIP Codes:

74358

Are Payday Loans Legal In North Miami, Oklahoma?

Loan Rates and Fees, Laws and Regulations in Oklahoma.

Oklahoma Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)395
Maximum Loan Amount$500
Minimum Loan Term12 days
Maximum Loan Term45 days
Number of Rollovers AllowedNot specified
Finance Charges<$300 = $15 >$300 = $10 for every additional $100

North Miami, OK payday loan calculator

Understanding Payday Loans in North Miami, Oklahoma

Payday loans have become increasingly popular in recent years, primarily among individuals who require quick cash for emergencies or unexpected expenses. While Payday loans can be a useful financial tool, it’s important to understand the regulations surrounding these types of loans so that you don’t get stuck in a harmful debt cycle. In this article, we’ll dive deeper into payday loans in North Miami, Oklahoma, to provide readers with comprehensive, easy-to-understand information.

What Are Payday Loans?

Payday loans are short-term loans that typically carry high interest rates and fees. These loans are designed for individuals who require immediate cash for unexpected expenses and are typically due on the borrower’s next payday.

In North Miami, Oklahoma, payday loans are legal and regulated by the Oklahoma Deferred Deposit Lending Act. According to this act, lenders are allowed to loan up to $500 for a maximum of 45 days. Additionally, lenders cannot charge more than 20% in interest rates and a $15 fee for every $100 borrowed.

How Do Payday Loans Work?

Applying for a payday loan is often quick and straightforward. Borrowers submit an application to a lender, providing proof of employment and income. If approved, the lender will typically transfer funds to the borrower’s bank account within 24 hours. Repayment is typically due on the borrower’s next payday, including interest and fees.

While payday loans may be appealing due to quick approval and fast funding, it’s important to understand the financial implications of these loans. Because of their high-interest rates and fees, many borrowers struggle to repay their loan on time, leading to a harmful debt cycle.

The Pros and Cons of Payday Loans

  • Pros: Payday loans can provide quick cash for unexpected expenses, they are easy to obtain, and they don’t require collateral.
  • Cons: Payday loans carry high interest rates and fees, may lead to a harmful debt cycle, and can negatively impact credit scores if not managed properly.

Interesting Facts and Statistics About Payday Loans in North Miami, Oklahoma

  • The average payday loan amount in Oklahoma is $394.
  • Approximately 1 in 8 Oklahomans have taken out a payday loan.
  • In Oklahoma, borrowers typically take out an average of 6 payday loans per year.
  • Payday lenders in Oklahoma reportedly earn over $50 million per year in fees and interest.

Apply Now

If you require quick cash for emergencies or unexpected expenses, TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application today to get started.

Please note that TheGuaranteedLoans is a connector service, not a direct lender, and we will facilitate your connection with potential lenders.

Conclusion

While payday loans may be an appealing financial tool for individuals in need of quick cash, it’s important to understand the regulations and financial implications before borrowing. If you choose to take out a payday loan, be sure to borrow responsibly and manage the loan effectively to avoid a harmful debt cycle.

F.A.Q.

Are there any protections for borrowers in North Miami, Oklahoma when it comes to payday loans?

Yes, Oklahoma has implemented several protections for borrowers, including a requirement for lenders to provide clear and concise information about the loan terms and fees, as well as a cooling-off period after the second consecutive loan.

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

No, payday lenders are prohibited from suing or garnishing wages for non-payment of a payday loan in North Miami, Oklahoma.