Payday Loans in Durham, Pennsylvania

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

Company nameAddressZip codePhone number
Lendmark Financial Services LLC 1778 E 3rd St, Williamsport, PA 17701 +1 (570) 980 - 2660
Northwest Consumer Discount Company 5927 PA-981 #3, Latrobe, PA 15650 +1 (724) 539 - 0737
FNCB Bank 934 N Main St, Dickson City, PA 18519 +1 (570) 489 - 8617
Met Life 600 N Hartley St 151, York, PA 17404 +1 (717) 600 - 1638
Jackson Hewitt Tax Service 1129 N 4th St, Sunbury, PA 17801 +1 (570) 286 - 2510
Valley Settlement Group, 232 Main St 3, Emmaus, PA 18049 +1 (484) 900 - 1300
Jim Thorpe Neighborhood Bank 430 W Patterson St, Lansford, PA 18232 +1 (570) 645 - 3293
Flick Financial 2674 Darlington Rd, Beaver Falls, PA 15010 +1 (724) 359 - 2500
Armstrong County Building & Loan Association 935 5th Ave, Ford City, PA 16226 +1 (724) 763 - 7137
Northwest Bank 1275 S Market St, Elizabethtown, PA 17022 +1 (717) 367 - 9652

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Durham, PA, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Abington, PA, Payday Loans in Allentown, PA, 24-Hour Loan 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 Payday 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 Durham, PA.

Beautiful sights of Durham, PA

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

18039

Are Payday Loans Legal In Durham, 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

Durham, PA payday loan calculator

Payday Loans in Durham, Pennsylvania: Why They are Prohibited

Payday loans are a type of short-term loan typically taken out by people who need quick cash to cover unexpected expenses. These loans are usually due on the borrower’s next payday and are often associated with high interest rates and fees, making them a controversial form of lending.

In Durham, Pennsylvania, payday loans are prohibited by law. The state’s Consumer Discount Company Act makes it illegal for lenders to charge interest rates higher than 6% per year on small loans of up to $50,000. Payday loans typically carry interest rates that far exceed this cap, which is why they are not available in Durham or any other part of Pennsylvania.

What Are the Alternatives to Payday Loans in Durham, Pennsylvania?

While payday loans may seem like an easy solution to a financial emergency, there are usually better alternatives available. In Durham, Pennsylvania, some of the most common alternatives to payday loans include:

  • Credit Union Loans: Credit unions are not-for-profit financial institutions that often offer small loans with low interest rates and flexible repayment terms. Many credit unions have programs specifically designed to help members who are struggling financially.
  • Credit Card Cash Advances: If you have a credit card, you can often get a cash advance from an ATM or a bank. However, keep in mind that cash advances usually come with high interest rates and fees, so it’s important to pay them back as soon as possible.
  • Negotiated Payment Plans: If you’re having trouble paying a bill or a debt, try contacting the company or creditor to see if you can arrange a payment plan. Many companies are willing to work with customers who are experiencing financial difficulties.

Why Are Payday Loans Prohibited in Durham, Pennsylvania?

Payday loans are prohibited in Durham, Pennsylvania, and many other states, because they often trap borrowers in a cycle of debt. Because the loans are due on the borrower’s next payday and carry high interest rates and fees, many borrowers have trouble paying them back on time. This frequently leads to rollovers, where the borrower takes out a new loan to pay off the old one, resulting in additional fees and interest charges.

Research has shown that payday loans can have a negative impact on borrowers’ financial well-being. A study by the Pew Charitable Trusts found that 12 million Americans take out payday loans each year, and that the average borrower takes out eight loans of $375 each per year. The study also found that borrowers spend an average of $520 in fees to borrow that amount.

Interesting Facts and Statistics About Payday Loans

  • Payday loans are prohibited in 18 states and the District of Columbia.
  • The average payday loan borrower takes out 10 loans per year.
  • In 2019, the Consumer Financial Protection Bureau proposed a rule to deregulate the payday lending industry, but the proposal was ultimately scrapped.
  • Payday lenders often target low-income and minority communities, which are disproportionately affected by high-interest loans and financial instability.

Apply Now: Find Alternative Lenders in Durham, Pennsylvania

If you’re looking for a short-term loan in Durham, Pennsylvania, TheGuaranteedLoans can help you connect with lenders that offer alternative products, such as installment loans, personal loans, and lines of credit. Our online application process is quick and easy, and we work with a network of trusted lenders that are committed to responsible lending practices.

Remember, TheGuaranteedLoans is a connector service, not a direct lender. We do not make credit decisions or provide loan funding. Instead, we facilitate your connection with potential lenders who can offer you alternative lending products that may better suit your financial needs.

To get started, simply fill out our online application form and we’ll match you with lenders that are best suited to your unique financial situation. Our service is free to use and requires no collateral, so you can apply with confidence knowing that you won’t be putting your assets at risk.

F.A.Q.

Why are payday loans illegal in Durham, Pennsylvania?

Payday loans are illegal in Durham, Pennsylvania because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Durham, Pennsylvania?

in Durham, Pennsylvania, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.