Payday Loans in Gibson, Pennsylvania

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

Company nameAddressZip codePhone number
First National Bank 35 E Main St, Nanticoke, PA 18634 +1 (570) 735 - 1400
Board of Finance & Revenue 1101 S Front St 400, Harrisburg, PA 17104 +1 (717) 787 - 2974
PNC Bank 2856 PA-611, Tannersville, PA 18372 +1 (570) 629 - 0241
S.A.M. Check Cashing Machine 273 E Roy Furman Hwy, Waynesburg, PA 15370 +1 (724) 627 - 8442
Element Risk Management formerly Barrick Commercial, Home & Auto Insurance 1401 Baltimore St, Hanover, PA 17331 +1 (717) 632 - 7270
The Farmers National Bank of Emlenton 612 Main St, Emlenton, PA 16373 +1 (877) 862 - 9270
WSFS Bank 1 W Lancaster Ave, Paoli, PA 19301 +1 (610) 535 - 4890
Ephrata National Bank 1 Main St, Denver, PA 17517 +1 (717) 733 - 4181
Northwest Consumer Discount Company 223 Penrose Pl, Carlisle, PA 17013 +1 (717) 249 - 0722
ATM M&t Bank 115 E Main St, Everett, PA 15537 +1 (800) 627 - 3999

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gibson, 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 Loans in Erie, PA, Payday Loans in Harrisburg, PA, Payday Loans in Haverford, PA, Payday Loans in Lancaster, PA, Payday Loans in Levittown, PA, Quick Loan 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 Gibson, PA.

Beautiful sights of Gibson, PA

Are Payday Loans Legal In Gibson, 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

Gibson, PA payday loan calculator

In the state of Pennsylvania, payday loans are prohibited. This means that Gibson, PA residents cannot access this type of financing. However, it’s important to understand why payday loans are prohibited and how you can access other financing options.

Problems with Payday Loans

Payday loans, also known as cash advances, are small-dollar loans with high-interest rates and fees. They are typically due on the borrower’s next payday, hence the name. While they may seem like a quick and easy way to get cash, they come with several pitfalls.

First and foremost, payday loans come with exorbitant fees and interest rates. According to the Consumer Financial Protection Bureau (CFPB), the average interest rate for a payday loan is 400%. This means if you borrow $500 for two weeks, you’ll have to pay back $575 in interest and fees.

Furthermore, payday lenders often target low-income borrowers who are in a desperate financial situation. These borrowers may not fully understand the terms of the loan or the consequences of not paying it back on time. This can lead to a cycle of debt where borrowers have to take out multiple loans just to keep up with the interest payments.

Alternative Loan Options

While payday loans are prohibited in Pennsylvania, there are other financing options available to Gibson residents.

Personal Loans

Personal loans are a type of unsecured loan that can be used for any purpose. They typically have lower interest rates than payday loans, and the repayment terms can range from a few months to several years. Personal loans can be obtained from banks, credit unions, or online lenders.

Credit Cards

If you have good credit, a credit card can be a good option for short-term financing. Many credit cards offer 0% introductory APR promotions, which means you won’t have to pay any interest for a certain period of time. Just be sure to pay off the balance before the promotion ends, or you could face high-interest charges.

Credit Counseling

If you’re struggling to make ends meet and keep up with your bills, credit counseling can help. A credit counselor can work with you to create a budget and a debt repayment plan. They may also be able to negotiate with your creditors to lower your interest rates or set up a payment plan.

Interesting Facts and Statistics about Payday Loans in Pennsylvania

  • Payday loans have been illegal in Pennsylvania since 2010.
  • Prior to the ban, payday lenders charged interest rates as high as 700%.
  • The Pennsylvania Attorney General has sued several payday lenders for violating the state’s usury laws.
  • A 2013 study found that payday lending cost Pennsylvania residents $242 million in fees and interest.
  • Pennsylvania is one of 14 states that prohibits payday lending.

Apply Now

If you need financing, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, which means we work with a network of lenders to find the best loan options for you.

To get started, you can fill out an online application on our website. We’ll ask you for some basic information, such as your name, address, and employment details. Once you submit your application, we’ll match you with potential lenders who may be able to offer you financing.

Remember, it’s important to read the terms and conditions of any loan before you agree to it. Make sure you understand the interest rate, fees, and repayment terms before you sign on the dotted line.

F.A.Q.

Can a payday loan company file a lawsuit against me in Gibson, Pennsylvania?

No, a payday loan company cannot file a lawsuit against you in Gibson, Pennsylvania because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in Gibson, Pennsylvania?

Yes, there are federal laws that apply to payday loans in Gibson, Pennsylvania, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.