Payday Loans in Robesonia, Pennsylvania

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

Company nameAddressZip codePhone number
PNC Bank 3790 Dryland Way, Easton, PA 18045 +1 (610) 559 - 5322
Northwest Bank 176 Lovell Ave, Ebensburg, PA 15931 +1 (814) 472 - 9520
Lendmark Financial Services LLC 7400 Front St, Cheltenham, PA 19012 +1 (215) 635 - 7477
ATM M&t Bank 111 E Main St, Monongahela, PA 15063
S&T Bank 891 Pottstown Pike, Exton, PA 19341 +1 (610) 363 - 7590
Residential Home Funding Corp. 8150 Perry Hwy 211, Pittsburgh, PA 15237 +1 (412) 200 - 5522
Blue Chip Federal Credit Union 5050 Derry St, Harrisburg, PA 17111 +1 (717) 564 - 3081
The Farmers National Bank of Emlenton 7001 US-322, Cranberry, PA 16319 +1 (814) 676 - 1970
Walmart Money Center 6700 Hollywood Blvd, Delmont, PA 15626 +1 (724) 468 - 6274
Citibank ATM 14 E Lawn Rd, Nazareth, PA 18064 +1 (800) 627 - 3999

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Robesonia, 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, 24-Hour Loan in Haverford, PA, Payday Loan Without a Credit Check in Lancaster, PA, Payday Loans in Levittown, PA, Payday Loan Companies 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 Robesonia, PA.

Beautiful sights of Robesonia, PA

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

19551

Are Payday Loans Legal In Robesonia, 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

Robesonia, PA payday loan calculator

Understanding Payday Loans and Their Prohibition in Robesonia, Pennsylvania

Payday loans have been a popular financial option for individuals needing small amounts of cash fast. However, they come with high-interest rates and fees, which often trap borrowers in a cycle of debt. Pennsylvania is one of the states that have prohibited payday lending, including in the town of Robesonia. Understanding the prohibition of payday loans in Robesonia, Pennsylvania, can help you make informed financial decisions and avoid predatory lending practices.

What are Payday loans?

Payday loans are short-term loans that usually range from $100 to $1000, and the loan is typically due on the borrower’s next payday, usually within two weeks. Lenders require borrowers to provide post-dated checks or access to their bank accounts to secure the loan.

The interest rates on payday loans are unusually high, ranging from 300% to 500% APR. Therefore, the cost of borrowing is exorbitantly high, and borrowers may find themselves unable to repay the loan on time, rolling over the debt into a new loan. This practice leads to high-interest rates and may snowball into a cycle of debt, often referred to as a “debt trap.”

Payday Loan Prohibition in Robesonia, Pennsylvania

Payday lending is illegal in Pennsylvania, including in the small town of Robesonia. State law caps the interest rates on loans at 6% per year for loans under $50,000, effectively rendering payday lending unprofitable for lenders.

Robesonia residents cannot borrow or offer payday loans in the town. The law protects borrowers from high-interest rates, hidden fees, and debt traps. However, they can still access other credit union loans, personal loans, or credit card loans for their immediate financial needs.

Statistics and Facts

  • In 2017 alone, Pennsylvania’s banking department reported that the average payday loan APR in the state was 526%, much higher than the average interest rate charged on credit cards and other loans.
  • Payday loans in Pennsylvania were expected to cost borrowers about $245 million in fees in 2016, according to a report by a Pennsylvania news outlet.
  • The National Consumer Law Center reports that 12 million Americans end up taking out payday loans each year, despite their high-interest rates, and most of them become trapped in a cycle of debt.

How to Get Help for Your Financial Needs

If you are in need of financial assistance and living in Robesonia, Pennsylvania, you can still access other forms of credit aside from payday loans. Personal loans, credit card loans, or credit union loans may be applicable alternatives to payday loans. You may also try to look for cheaper borrowing options if you can, cut down on expenses to increase savings, or seek help from a trained financial advisor to help you with debt recovery and management.

If you decide that a payday loan is the only option, you should understand that TheGuaranteedLoans is a connector service and not a direct lender. We work with a network of reputable lenders who offer personal loans. Our online application process is easy and requires no credit check. However, you must be over 18 years old, have a verifiable source of income, and provide us with a bank account number to deposit the funds into if you qualify for a loan.

At TheGuaranteedLoans, we pride ourselves on providing the best loan options to our clients to suit their specific financial needs. Reach out to us today and let us help you get the loan you need in a safe, efficient, and affordable manner.

F.A.Q.

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

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

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