Payday Loans in Ruffs Dale, Pennsylvania

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

Company nameAddressZip codePhone number
Fulton Bank 227 E Main St, Middleburg, PA 17842 +1 (570) 837 - 1881
First National Bank 202 Devine Dr, Wexford, PA 15090 +1 (724) 940 - 6700
NexTier Bank - Camp Hill Office 4231 Trindle Rd, Camp Hill, PA 17011 +1 (717) 963 - 7808
Weidner Accounting LLC 67 Abraham Ave, Wilkes-Barre, PA 18706 +1 (570) 371 - 3754
Raymond James Financial Services 5998 Main St, East Petersburg, PA 17520 +1 (717) 581 - 3200
First Keystone Community Bank 2022 US-209, Brodheadsville, PA 18322 +1 (570) 402 - 2008
BB&T 5625 York Rd, New Oxford, PA 17350 +1 (717) 624 - 0455
KeyBank 3909 W Lincoln Hwy, Downingtown, PA 19335 +1 (610) 873 - 9600
Univest Bank and Trust Co. 2901 Whiteford Rd, York, PA 17402 +1 (717) 740 - 6003
Cash A Check Plus 601 E Main St, Norristown, PA 19401 +1 (610) 292 - 8508

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ruffs Dale, 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 Companies in Harrisburg, PA, Payday Loans in Haverford, PA, Quick Loan in Lancaster, PA, Emergency Loan in Levittown, PA, Payday Loans 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 Ruffs Dale, PA.

Are Payday Loans Legal In Ruffs Dale, 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

Ruffs Dale, PA payday loan calculator

Payday Loans and Their Legality in Ruffs Dale, Pennsylvania

Payday loans are designed to provide people with quick access to cash for financial emergencies. However, in Pennsylvania, they are prohibited and illegal. This means that you cannot get a payday loan in Ruffs Dale, Pennsylvania, or anywhere else in the state.

What are Payday Loans?

Payday loans are a type of short-term loan that is usually due on the borrower’s next payday. These loans typically have high-interest rates and fees and can be a quick solution for people who need immediate cash but cannot get it from traditional lenders.

Payday loans are usually small-dollar loans, ranging from $100 to $1,000. However, interest rates on these loans can exceed 400 percent a year in some cases, making them extremely expensive.

The Prohibition of Payday Loans in Pennsylvania

In Pennsylvania, payday loans are illegal, and lenders who offer these loans can be penalized.

The state’s Consumer Discount Company Act prohibits payday lending by requiring that payday lenders must be licensed as a small loan company in order to operate in the state. Payday lenders are not licensed under this act, and therefore, are not legal in Pennsylvania.

In addition to payday loans, Pennsylvania also prohibits other forms of predatory lending, such as car title loans and other high-cost loans.

The Dangers of Payday Loans

While payday loans may seem like a quick fix to financial emergencies, they come with significant risks. The high-interest rates and fees make these loans very difficult to pay back, and borrowers often end up in a cycle of debt.

Many payday lenders also require access to a borrower’s bank account, making it easy for them to withdraw money even if the borrower cannot afford it. This can result in overdraft fees and other financial penalties, further exacerbating financial difficulties for the borrower.

Alternatives to Payday Loans

If you are in need of quick cash, there are alternatives to payday loans that can help you avoid the risks and dangers associated with these loans.

  • Personal Loans: Personal loans from banks, credit unions, or online lenders may be a better option for borrowing money. These loans typically have lower interest rates and longer repayment periods than payday loans.
  • Credit Card Advances: If you have a credit card, you may be able to get a cash advance. While the interest rates may be high, they are still lower than payday loans, and you have the option to repay the debt over time.
  • Payment Plans: If you need to pay for an emergency expense, such as medical bills or car repairs, many providers offer payment plans that allow you to pay over time without the need for a loan.

Facts and Statistics about Payday Loans in Ruffs Dale, Pennsylvania

While payday loans are prohibited in Pennsylvania, it is important to understand the impact they can have on individuals and communities. Here are a few facts and statistics about payday lending in the US:

  • 12 million Americans take out payday loans each year.
  • The average payday loan borrower takes out eight loans per year.
  • The payday loan industry takes in an estimated $9 billion a year in fees alone.
  • Payday loans trap borrowers in a cycle of debt, with 80 percent of loans being rolled over or renewed.

Apply Now

While payday loans are not legal in Pennsylvania, TheGuaranteedLoans can help connect you with potential lenders for other types of loans. We are not a direct lender but work with a network of lenders who offer personal loans, business loans, car title loans and more. Fill out our online application today to see what options are available to you!

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Ruffs Dale, Pennsylvania?

It is illegal for lenders to offer payday loans in Ruffs Dale, Pennsylvania, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Ruffs Dale, Pennsylvania?

If you have already taken out a payday loan in Ruffs Dale, Pennsylvania, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.