Payday Loans in Penns Creek, Pennsylvania

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

Company nameAddressZip codePhone number
loanDepot 401 E Louther St Building A, Carlisle, PA 17013 +1 (717) 212 - 7100
Financial Abundance 2134 Sandy Dr 1, State College, PA 16803 +1 (814) 867 - 5745
LoanStar Technologies 200 Barr Harbor Dr, Conshohocken, PA 19428 +1 (844) 244 - 6888
AgChoice Farm Credit 1243 Curryville Rd, Martinsburg, PA 16662 +1 (800) 733 - 3183
Zinn Insurance Agency 761 Poplar St 1, Lebanon, PA 17042 +1 (717) 272 - 6693
Holiday Financial Services 300 Walmart Dr Ste 150, Ebensburg, PA 15931 +1 (814) 472 - 4561
Imperial Auto Group 41 N Centre Ave Unit 2, Leesport, PA 19533 +1 (484) 277 - 7089
Members 1st Federal Credit Union 2050 N Reading Rd, Denver, PA 17517 +1 (800) 237 - 7288
Community Bank - Uniontown Business Center 110 Daniel Dr 10, Uniontown, PA 15401 +1 (724) 438 - 7800
Republic Bank 423 W Germantown Pike, Plymouth Meeting, PA 19462 +1 (484) 530 - 5080

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Penns Creek, PA, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Pittsburgh, PA, Guaranteed Loans in Reading, PA, Payday Loan Companies in Scranton, PA, Online Loans in State College, PA, Guaranteed Loans in Upper Darby, PA, Payday Loans in Warminster, PA, Payday Loans in Wilkes-Barre, PA and Payday Loans in York, 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 Penns Creek, PA.

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

17862

Are Payday Loans Legal In Penns Creek, 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

Penns Creek, PA payday loan calculator

Payday Loans in Penns Creek, Pennsylvania: Why They are Prohibited and What You Need to Know

If you are in Penns Creek, Pennsylvania, and need cash quickly, you may be tempted to turn to a payday loan. However, before you do, it’s important to understand that payday loans are prohibited in Pennsylvania. In this article, we will explain what payday loans are, why they are illegal in Pennsylvania, and what alternatives you can explore instead.

What are Payday Loans?

Payday loans are short-term loans intended to tide borrowers over until their next paycheck. These loans typically come with high-interest rates and fees, making them an expensive option for those who need cash quickly.

To get a payday loan, borrowers submit a postdated check or provide their bank account information to the lender. The lender will then give the borrower cash, minus the fees and interest, and the loan is due on the borrower’s next payday.

Why are Payday Loans Prohibited in Pennsylvania?

Pennsylvania, along with 16 other states, has made payday lending illegal. The state’s usury law caps interest rates at 6% for loans under $50,000, which makes payday lending impossible as these loans tend to have rates of 400% or higher.

Payday lending has faced criticism for trapping vulnerable borrowers in cycles of debt, where they have to repeatedly borrow to pay off previous loans. These loans are designed to be repaid in full on the borrower’s next payday, which often leaves borrowers with insufficient funds to pay their bills and other expenses, leading them to take out new loans and repeat the cycle.

What Alternatives are Available?

If you need cash quickly in Penns Creek, there are alternatives to payday loans. Some options to consider include:

Credit Union Loans: Many credit unions offer small-dollar loans with reasonable interest rates and fees. Some even offer payday loan alternatives specifically designed to help borrowers avoid payday lending.

Credit Card Cash Advance: While not an ideal option, a credit card cash advance can be less expensive than a payday loan. However, be aware that interest rates on these advances tend to be higher than regular purchases, and there may also be cash advance fees.

Assistance Programs: You may be eligible for assistance programs in Penns Creek, such as the Low-Income Home Energy Assistance Program or the Supplemental Nutrition Assistance Program, which can provide financial assistance for various needs.

Interesting Facts and Statistics about Payday Loans

  • In 2019, payday lenders in Pennsylvania charged annual interest rates of up to 615% on payday loans, according to the Pennsylvania Attorney General’s office.
  • On average, borrowers take out eight payday loans per year, with an average loan amount of $375, according to Pew Charitable Trusts.
  • In 2018, the payday lending industry made $9.4 billion in fees alone, according to the Center for Responsible Lending.

Apply Now

If you need financial assistance, consider filling out an online application on TheGuaranteedLoans website. We work with a network of lenders who may be able to help you get the cash you need quickly. Keep in mind that TheGuaranteedLoans is not a direct lender but rather a connector service, and the lenders we work with will have their own eligibility requirements, interest rates, and fees.

Conclusion

While payday loans may seem like an easy and quick solution to your financial troubles, they can do more harm than good. In Pennsylvania, payday loans are illegal, but there are alternatives available that can help you get the cash you need without falling into a cycle of debt. Remember to explore all your options, read the terms and conditions carefully, and only borrow what you can afford to repay.

F.A.Q.

What should I do if a payday loan lender is threatening me with legal action in Penns Creek, Pennsylvania?

If a payday loan lender is threatening you with legal action in Penns Creek, Pennsylvania, you should contact the Pennsylvania State Department of Financial Services to report the lender's actions. The department may be able to help you resolve the issue and protect your rights.

Is it possible to get a payday loan from a lender in another state and use it in Penns Creek, Pennsylvania?

No, it is not possible to get a payday loan from a lender in another state and use it in Penns Creek, Pennsylvania. Payday loans are illegal in Penns Creek, Pennsylvania, regardless of where the lender is located.