Payday Loans in Drifton, Pennsylvania

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

Company nameAddressZip codePhone number
First National Bank 229 Main St, Meyersdale, PA 15552 +1 (814) 634 - 8337
Jackson Hewitt Tax Service 515 Grow Ave Suite 2, Montrose, PA 18801 +1 (570) 278 - 4788
Northwest Consumer Discount Company 1288 Liberty St, Franklin, PA 16323 +1 (814) 432 - 8701
Mortgage Lending Solutions 900 Pennsylvania Ave, Monaca, PA 15061 +1 (724) 774 - 9464
Horizon Federal Credit Union 217 W Bald Eagle St, Lock Haven, PA 17745 +1 (570) 748 - 4553
FNCB Bank 1919 S Memorial Highway, Shavertown, PA 18708 +1 (570) 674 - 3622
Toma Abstract Inc 700 N Church St, Hazleton, PA 18201 +1 (570) 454 - 7899
Wells Fargo Bank 101 N Main Ave, Scranton, PA 18504 +1 (570) 961 - 7924
CNB Bank 1574 Bee Line Hwy, DuBois, PA 15801 +1 (814) 375 - 6800
PNC Bank 4917 Homeville Rd, West Mifflin, PA 15122 +1 (412) 466 - 3460

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Drifton, PA, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Abington, PA, Same Day Loans in Allentown, PA, Guaranteed Loans in Altoona, PA, Payday Loans in Bensalem, PA, Payday Loans in Bethel Park, PA, Payday Loans in Bethlehem, PA, Payday Loans in Bristol, PA and Same Day Loans in Cheltenham, 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 Drifton, PA.

Are Payday Loans Legal In Drifton, 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

Drifton, PA payday loan calculator

Payday Loans in Drifton, Pennsylvania: What You Need to Know

Payday loans can be a tempting option when you’re strapped for cash, but it’s important to know the regulations around these loans before you consider taking one out.

If you’re in the Drifton, Pennsylvania area, you may be wondering if payday loans are legal. Unfortunately, the answer is no – payday loans are prohibited in Pennsylvania.

What are Payday Loans?

Payday loans are short-term, high-interest loans that are typically due on your next payday. These loans are designed to help you cover unexpected expenses or bills that you may not be able to afford otherwise.

While some payday lenders may advertise these loans as a quick and easy way to get cash, they often come with exorbitant interest rates and fees. These loans can be especially problematic for individuals who are already struggling financially, as they can result in a cycle of debt that’s difficult to break.

Why are Payday Loans Prohibited in Pennsylvania?

Payday loans are prohibited in Pennsylvania due to the state’s laws regarding interest rates and consumer protections. Under Pennsylvania law, lenders are not allowed to charge an annual interest rate of over 6% on loans, which effectively eliminates the possibility of payday lending.

The state also has strict regulations around consumer borrowing and lending, which are designed to protect consumers from predatory lending practices. While some states allow payday lending, Pennsylvania has elected to prohibit these loans in order to protect its citizens from high-interest loans.

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

If you find yourself in need of cash in Drifton, Pennsylvania, there are several alternatives to payday loans that you can consider:

  • Personal loans: Many banks and credit unions offer personal loans with reasonable interest rates and terms. If you have a good credit score, you may qualify for a loan with a lower interest rate.
  • Credit cards: While it’s not ideal to rely on credit cards for emergency expenses, they can be a good option if you only need to borrow a small amount of money. Just be sure to pay off the balance in full as soon as possible to avoid high interest charges.
  • Alternative lenders: There are a growing number of alternative lenders and online lending platforms that offer loans with more reasonable interest rates and fees than payday lenders.

Interesting Facts and Statistics

  • In 2018, the total payday loan volume in the United States was $9.1 billion.
  • The average payday loan in Pennsylvania is $350, with a maximum loan amount of $1,000.
  • Payday lending is prohibited in 18 states and Washington, D.C.
  • The average interest rate for a payday loan in the United States is 391%.

Apply Now for Alternative Loans

If you’re in need of a loan in Drifton, Pennsylvania, TheGuaranteedLoans can help connect you with potential lenders. We offer a simple online application process and work with a wide network of lenders to help you find the right loan for your needs.

It’s important to note that TheGuaranteedLoans is a connector service, not a direct lender. This means that we don’t actually provide loans ourselves – we simply facilitate your connection with potential lenders.

To get started, simply fill out our online application and we’ll match you with lenders who meet your needs. From there, you can review your loan offers and choose the best option for you. Apply now to get the cash you need, without resorting to high-interest payday loans.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Drifton, Pennsylvania?

No, because payday loans are illegal in Drifton, Pennsylvania, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Drifton, Pennsylvania?

Yes, the state of Pennsylvania has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.