Payday Loans in Defiance, Pennsylvania

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No payday loan companies in Defiance, PA. Consider companies in other cities:

Company nameAddressZip codePhone number
Franklin Mint Federal Credit Union 400 E Market St, West Chester, PA 19382 +1 (610) 696 - 4999
West-Aircomm Federal Credit Union 989 Beaver Grade Rd, Coraopolis, PA 15108 +1 (412) 264 - 2613
Central Pa Settlement Services 118 N Richard St 300, Bedford, PA 15522 +1 (814) 623 - 4210
Merrill Lynch Wealth Management 501 3rd St, Beaver, PA 15009 +1 (724) 770 - 9874
Penn Community Bank 400 Commerce Dr, Milford Square, PA 18935 +1 (215) 538 - 9916
Glendale Mortgage 1 Raymond Dr # 1, Havertown, PA 19083 +1 (610) 853 - 6500
Wells Fargo Bank 12 E Tioga St, Tunkhannock, PA 18657 +1 (570) 836 - 2155
Comfort Keepers Home Care 1323 E 3rd St, Williamsport, PA 17701 +1 (570) 281 - 8084
Holiday Financial Services 46 Main St, Bradford, PA 16701 +1 (814) 368 - 4004
First Commonwealth Bank 200 S Chestnut St, Derry, PA 15627 +1 (724) 459 - 4697

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Defiance, PA, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Chester, PA, Bad Credit Loans in Erie, PA, Payday Loans in Harrisburg, PA, Guaranteed Loans in Haverford, PA, Payday Loans in Lancaster, PA, Payday Loan Companies in Levittown, PA, Payday Loans in Norristown, PA and Payday Loans in Philadelphia, PA. 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 Defiance, PA.

Payday Loans Available in Defiance, PA By The Following ZIP Codes:

16633

Are Payday Loans Legal In Defiance, Pennsylvania?

Payday Lending is Prohibited in Pennsylvania

Pennsylvania Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Defiance, PA payday loan calculator

Payday Loans in Defiance, Pennsylvania – The Facts You Need to Know

Payday loans are a type of short-term, high-interest loan that is typically due on or before your next payday. These loans promise quick cash with no credit checks and minimal requirements. However, in Pennsylvania, payday loans are illegal. In this article, we’ll discuss the state’s laws surrounding payday loans and explore alternative options for borrowing money.

Why are Payday Loans Illegal in Pennsylvania?

In Pennsylvania, the state legislature enacted a law in 1998 that made payday lending illegal. The law specifically prohibits the practice of offering, making, or collecting on a payday loan. The law applies to all lenders, including those who operate online or from out-of-state. The main reason behind the law is to protect Pennsylvania consumers from the high interest rates and fees associated with payday loans, which can trap borrowers in a cycle of debt.

What are the Alternatives to Payday Loans in Defiance, Pennsylvania?

If you need cash fast in Defiance, Pennsylvania, there are still several options available to you that are legal and won’t result in a cycle of debt. Here are a few alternatives to consider:

  • Credit Card Cash Advance: If you have a credit card, you can often take out a cash advance at an ATM. While interest rates on cash advances can be high, they may be lower than payday loan interest rates.
  • Borrow from Friends or Family: Consider reaching out to trusted friends or family members for a short-term loan. Be sure to create a repayment plan and stick to it to avoid any potential conflicts.
  • Traditional Personal Loans: If you have good credit, you may be able to qualify for a traditional personal loan from a bank or credit union. These loans typically have lower interest rates and longer repayment terms than payday loans.
  • Credit Counseling: If you’re struggling with debt, consider reaching out to a credit counseling agency. They can help you create a budget and may be able to negotiate with your creditors for lower interest rates and fees.

The Risks of Payday Loans in Pennsylvana

Payday loans can be incredibly risky for borrowers, which is one reason why they are illegal in Pennsylvania. Here are a few risks associated with payday loans to keep in mind:

  • High Interest and Fees: Payday loans typically have interest rates and fees that are much higher than traditional loans. This can trap borrowers in a cycle of debt, where they must continually take out new loans to cover existing ones.
  • Debt Collection Practices: If you’re unable to repay your payday loan, you may be subject to aggressive debt collection practices, including threats of arrest or legal action.
  • Identity Theft: If you apply for a payday loan online or through an unscrupulous lender, you may be putting your personal and financial information at risk for identity theft.

Interesting Facts About Payday Loans in Defiance, Pennsylvania

  • Since payday loans were made illegal in Pennsylvania in 1998, many payday lenders have had to shut down their businesses in the state.
  • In 2018, the Pennsylvania Attorney General’s office sued Think Finance, an online payday lender that had been operating in the state illegally.
  • The Consumer Financial Protection Bureau (CFPB) has found that the average payday loan borrower takes out 10 loans per year.
  • A report by the Pew Charitable Trusts found that the average payday loan borrower spends $520 in fees to borrow $375.

Apply Now for a Personal Loan in Defiance, Pennsylvania

While payday loans are illegal in Pennsylvania, there are still many options available to borrowers who need cash fast. At TheGuaranteedLoans, we are a connector service that can help you find a personal loan that meets your needs. We work with a network of trusted lenders who offer competitive interest rates and flexible repayment terms. To get started, fill out our online application form today. Remember, our service is free to use, and we’ll never charge you any fees to connect you with a lender.

F.A.Q.

Can a payday loan company report me to a credit bureau in Defiance, Pennsylvania?

No, a payday loan company cannot report you to a credit bureau in Defiance, Pennsylvania because these loans are illegal in the state.

Can a payday loan company take me to court in Defiance, Pennsylvania?

No, a payday loan company cannot take you to court in Defiance, Pennsylvania because these loans are illegal in the state.