Payday Loans in Drumore, Pennsylvania

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

Company nameAddressZip codePhone number
Armstrong County Building & Loan Association 935 5th Ave, Ford City, PA 16226 +1 (724) 763 - 7137
KeyBank 904 Blakeslee Blvd Dr E, Lehighton, PA 18235 +1 (610) 377 - 8970
Regency Finance Company 3225 N 5th St #8, Reading, PA 19605 +1 (610) 929 - 2574
First Choice Federal Credit Union 1144 Butler Ave, New Castle, PA 16101 +1 (724) 656 - 3595
Washington Financial 77 S Main St, Washington, PA 15301 +1 (724) 222 - 3120
Jeff Nelson - State Farm Insurance Agent/Loan Officer 16321 Mount Airy Rd, Shrewsbury, PA 17361 +1 (717) 235 - 5555
Loan Pro 100 Lakeside Dr 100, Horsham, PA 19044 +1 (215) 598 - 9140
TruMark Financial Credit Union - Trevose 1000 Northbrook Dr, Feasterville-Trevose, PA 19053 +1 (877) 878 - 6275
Citizens Bank 108 Erin Ln, Brodheadsville, PA 18322 +1 (570) 992 - 4138
Clearview Federal Credit Union 510 Beaver St, Sewickley, PA 15143 +1 (412) 749 - 5435

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Drumore, PA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Chester, PA, Payday Loan Without a Credit Check in Erie, PA, Payday Loans in Harrisburg, PA, Quick Loan in Haverford, PA, Payday Loans in Lancaster, PA, Payday Loans in Levittown, PA, Same Day 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 Drumore, PA.

Beautiful sights of Drumore, PA

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

17518

Are Payday Loans Legal In Drumore, 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

Drumore, PA payday loan calculator

Payday Loans in Drumore, Pennsylvania: An Overview

When it comes to financial emergencies, many people in Drumore, Pennsylvania turn to payday loans. However, it’s important to note that payday loans are actually prohibited in Pennsylvania. In this article, we will take a closer look at why these loans are not legal in Pennsylvania, and explore some of your other options for securing short-term financing.

Why are Payday Loans Prohibited in Pennsylvania?

In 2010, the Pennsylvania state legislature passed the Payday Loan Consumer Protection Act, which effectively banned payday lending in the state. This was done in order to protect residents from the high interest rates and fees associated with these loans, which can sometimes exceed 300% APR.

While at first glance, payday loans may seem like a quick and easy way to get cash when you need it, the reality is that many borrowers end up trapped in a cycle of debt, unable to repay their loans on time and stuck paying exorbitant fees and interest as a result.

For this reason, lawmakers in Pennsylvania made the decision to ban payday loans altogether, in order to protect consumers from the potential harm associated with this type of lending.

Alternatives to Payday Loans in Drumore, Pennsylvania

While payday loans are not an option in Pennsylvania, there are still several other ways you can get the money you need in a pinch. Here are a few options to consider:

  • Personal Loans – Personal loans are a type of unsecured loan that can be used for a variety of purposes, including emergency expenses. Unlike payday loans, personal loans typically have lower interest rates and more lenient repayment terms, making them a safer option for borrowers who need quick cash.
  • Credit Cards – If you have a credit card with an available balance, this can be a good option for covering emergency expenses. However, it’s important to be aware of the interest rates and fees associated with credit card cash advances, which can be just as high (if not higher) than those associated with payday loans.
  • Local Charities and Nonprofit Organizations – Depending on your specific situation, you may be able to find assistance from local charities or nonprofit organizations in your area. These organizations may be able to provide short-term assistance with things like utility bills, food, and housing costs, which can relieve some of the financial pressure you may be feeling.

Interesting Facts and Statistics About Payday Loans in Drumore, Pennsylvania

  • While payday loans are prohibited in Pennsylvania, neighboring states like Delaware and New Jersey do allow them.
  • In 2010, there were around 12 million Americans who took out payday loans, borrowing a total of $29 billion.
  • Across the country, the average payday loan borrower takes out eight loans per year, with a median loan size of $350.
  • According to a report from the Pew Charitable Trusts, the typical payday loan borrower is a white female between the ages of 25 and 44, with an annual income of less than $40,000.

Apply Now

While TheGuaranteedLoans does not directly lend money to borrowers, we can help connect you with potential lenders who may be able to provide you with the financing you need. Our simple online application process makes it easy to get started, and our network of trusted lenders ensures that you’ll be working with reputable professionals every step of the way. To get started, simply fill out our online application form today.

Remember, when it comes to short-term financing, it’s important to explore all of your options and choose the option that is best suited to your specific needs and financial situation. While payday loans may seem like a quick fix, the reality is that they can often lead to long-term financial problems. By being aware of your alternatives and making informed decisions, you can take control of your finances and work towards a brighter, more stable future.

F.A.Q.

Can I be arrested for taking out a payday loan in Drumore, Pennsylvania?

It is unlikely that a borrower would be arrested for taking out a payday loan in Drumore, Pennsylvania, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in Drumore, Pennsylvania?

Yes, there are several resources available to help consumers avoid predatory lending in Drumore, Pennsylvania, including the state's Consumer Financial Protection Bureau, the Pennsylvania State Banking Department, and the Pennsylvania City Department of Consumer Affairs.