Payday Loans in Silver Spring, Pennsylvania

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

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

Company nameAddressZip codePhone number
Northwest Insurance Services 237 2nd Ave, Warren, PA 16365 +1 (814) 723 - 5000
Dollar Bank 11974 Perry Hwy, Wexford, PA 15090 +1 (724) 933 - 6900
BB&T 103 S Jennersville Rd, West Grove, PA 19390 +1 (610) 869 - 6342
Dollar Bank 250 Oak Spring Rd, Washington, PA 15301 +1 (724) 228 - 3305
Prudential Jaclyn Costantino Life Insurance & Annuities 50 Glenmaura National Blvd, Moosic, PA 18507 +1 (570) 885 - 4657
Citizens Bank Supermarket Branch 2668 Egypt Rd, Norristown, PA 19403 +1 (610) 666 - 6588
S&T Bank 85 Greensburg St, Delmont, PA 15626 +1 (724) 468 - 4026
PNC Mortgage 901 State St, Erie, PA 16501 +1 (814) 871 - 9113
Community Bank, N.A. 45 S Main St, Pittston, PA 18640 +1 (570) 655 - 7750
Gary W Horning Office 795 Canton St, Troy, PA 16947 +1 (570) 297 - 5090

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Silver Spring, 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 Loan for Erie, PA, Quick Loan in Harrisburg, PA, Payday Loans in Haverford, PA, Payday Loans in Lancaster, PA, Payday Loan Companies in Levittown, PA, Payday Loans in Norristown, PA and Same Day 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 Silver Spring, PA.

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

17575

Are Payday Loans Legal In Silver Spring, 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

Silver Spring, PA payday loan calculator

Payday Loans in Silver Spring, Pennsylvania: What You Need to Know

Payday loans, also known as cash advances or paycheck advances, offer consumers short-term access to money. These loans are usually small, with the expectation that they will be repaid with the borrower’s next paycheck. However, in the state of Pennsylvania, payday loans are prohibited by law. This article will explore why this is the case and what other options Pennsylvania residents have when in need of quick cash.

The Law on Payday Loans in Pennsylvania

Since 1998, payday lenders have been prohibited from operating in Pennsylvania. In fact, Pennsylvania is one of the 15 states that have banned payday lending altogether. The state’s Consumer Discount Company Act states that small loans with an interest rate of over 6% must be registered with the state Department of Banking, and that payday lending is not permissible under this act.

The law also prohibits lenders from using any other tactics to evade the cap on small loan interest rates. For example, some lenders may claim to be affiliated with Native American tribes or other entities in order to operate under different laws. However, such arrangements are not legal in Pennsylvania. The state has also taken legal action against online lenders who attempt to offer payday loans to Pennsylvania residents.

Alternative Options for Pennsylvania Residents

Although payday loans are not available in Pennsylvania, residents still have other options for accessing quick cash. Some of these include:

  • Credit unions that offer small dollar loans with reasonable interest rates.
  • Nonprofit organizations that provide financial assistance to low-income individuals and families.
  • Credit counseling and debt management services that can help consumers work out payment plans with their creditors.
  • Charities and religious organizations that offer emergency financial assistance.

It’s important to remember that although these options may be less convenient or more time-consuming than payday loans, they are generally less expensive and less risky. Borrowers should also consider whether they truly need the money and whether they will be able to repay the loan on time, as borrowing money can sometimes lead to a cycle of debt.

Interesting Facts and Statistics

  • In states where payday loans are legal, the average interest rate on a two-week payday loan is 391%.
  • Pennsylvania’s Department of Banking and Securities received 120 complaints about non-bank lenders in 2019, up from just 30 in 2016.
  • A survey by the Pew Charitable Trusts found that the average payday loan borrower takes out eight loans per year, with an average loan amount of $375 per loan.
  • According to the Consumer Financial Protection Bureau, 80% of payday loans are rolled over or renewed within two weeks, with borrowers ending up paying more in fees than the amount they borrowed.

Apply Now

If you’re in need of quick cash and live in Pennsylvania, TheGuaranteedLoans can help connect you with potential lenders who offer other types of short-term loans, such as installment loans or title loans. We are a connector service, not a direct lender, and our goal is to help connect borrowers with the loans and lenders that best suit their needs. Apply now by filling out our online application.

We believe in transparency and honesty, and we encourage borrowers to read the terms and conditions of any loan offered before signing. Borrowers should also be aware of the fees and interest rates associated with any loan and ensure that they have a plan for repaying the loan on time.

Conclusion

In summary, payday loans are illegal in Pennsylvania under the state’s Consumer Discount Company Act. However, Pennsylvania residents still have other options for accessing quick cash, including credit unions, nonprofit organizations, and debt management services. It’s important for borrowers to carefully consider their options and choose the loan and lender that best suits their needs and financial situation.

F.A.Q.

Can I be sued for defaulting on a payday loan in Silver Spring, Pennsylvania?

No, you cannot be sued for defaulting on a payday loan in Silver Spring, Pennsylvania because these loans are illegal in the state.

Can a payday loan be included in a bankruptcy filing in Silver Spring, Pennsylvania?

No, a payday loan cannot be included in a bankruptcy filing in Silver Spring, Pennsylvania because these loans are illegal in the state.