Payday Loans in Madison, Pennsylvania

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

Company nameAddressZip codePhone number
Mariner Finance 604 Moraine Pointe Plaza, Butler, PA 16001 +1 (724) 282 - 7575
Northwest Consumer Discount Co 1000 Market St, Bloomsburg, PA 17815 +1 (570) 784 - 7700
Cotton Mather Accounting Group 4550 McKnight Rd Ste 208, Pittsburgh, PA 15237 +1 (412) 931 - 1617
Bank of America Financial Center 990 Baltimore Pike, Glen Mills, PA 19342 +1 (610) 361 - 8518
Pratt Services Check Cashing 1548 Pratt St, Philadelphia, PA 19124 +1 (215) 289 - 7887
Bryn Mawr Trust 655 W Dekalb Pike, King of Prussia, PA 19406 +1 (610) 265 - 5300
Crossland Group Financial Planning 129 Market St 2A, Lewisburg, PA 17837 +1 (570) 524 - 9229
First National Bank 74 Allegheny River Blvd, Verona, PA 15147 +1 (412) 828 - 5661
Wayne Bank 717 Main St, Honesdale, PA 18431 +1 (570) 253 - 1455
Fastrack Tax & Accounting Services 8809 West Chester Pike, Upper Darby, PA 19082 +1 (610) 449 - 4030

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Madison, 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 Loan Without a Credit Check in Harrisburg, PA, Payday Loans in Haverford, PA, Payday Loans in Lancaster, PA, Payday Loans in Levittown, PA, Payday Loan for 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 Madison, PA.

Beautiful sights of Madison, PA

Are Payday Loans Legal In Madison, 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

Madison, PA payday loan calculator

About Payday Loans in Madison, Pennsylvania

Payday loans are a type of short-term loan that many people use to cover small, unexpected expenses. However, in Pennsylvania, payday loans are prohibited by state law. Still, many people in Madison, Pennsylvania may be confused about the legality of these loans and how they work.

Why are Payday Loans Prohibited in Pennsylvania?

Payday loans were once legal in Pennsylvania, but the state passed a law prohibiting them in 2010. The law was put in place to protect consumers from predatory lending practices and the cycle of debt that can come with payday loans.

Payday loans can come with extremely high interest rates and fees, which can make it difficult for borrowers to repay the loan on time. This can lead to a cycle of debt where borrowers take out additional loans to cover previous ones. The new law in Pennsylvania aims to protect consumers from these predatory practices.

What are the Alternatives to Payday Loans in Madison?

While payday loans are not an option in Pennsylvania, there are alternative options for those in need of a small loan:

  • Small personal loans: Many credit unions and local banks offer small personal loans to their members and customers. These loans can often be obtained quickly and come with lower interest rates than payday loans.
  • Credit cards: If you have a credit card with available credit, this can be another option for covering unexpected expenses. While credit cards can come with high interest rates, they are often much more manageable than payday loans.
  • Friends or family: If you are in need of a small loan, consider reaching out to friends or family members who may be able to help.

Interesting Facts and Statistics about Payday Loans in Madison, Pennsylvania

  • Approximately 12 million Americans take out payday loans each year.
  • The average payday loan borrower takes out eight loans per year.
  • The average payday loan in Pennsylvania has an APR of 391%.
  • Payday lenders make $7.4 billion in fees annually.

Apply Now

If you are in need of a loan in Madison, Pennsylvania, TheGuaranteedLoans is here to help. We are a connector service that can connect you with potential lenders who may be able to provide you with the funds you need. Fill out our online application today to get started.

Please note that TheGuaranteedLoans is not a direct lender, and we do not guarantee that you will be approved for a loan. However, we will work to connect you with potential lenders who may be able to provide you with the funds you need.

F.A.Q.

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

It is unlikely that a borrower would be arrested for taking out a payday loan in Madison, 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 Madison, Pennsylvania?

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