Payday Loans in South Canaan, Pennsylvania

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

Company nameAddressZip codePhone number
The Honesdale National Bank 619 N Main St, Forest City, PA 18421 +1 (570) 785 - 2274
WSFS Bank 1630 Egypt Rd, Oaks, PA 19456 +1 (484) 654 - 2990
West Branch Valley Credit Union 1640 High St, Williamsport, PA 17701 +1 (570) 323 - 9407
Mid Penn Bank 132 School Rd, Dalmatia, PA 17017 +1 (570) 758 - 2711
Orrstown Bank 1 Giant Ln, Carlisle, PA 17013 +1 (888) 677 - 7869
Scranton Times Downtown Federal Credit Union 129 Penn Ave, Scranton, PA 18503 +1 (570) 348 - 9192
Team First Fed Credit Union 111 Centerville Rd, Lancaster, PA 17603 +1 (717) 824 - 3087
Northwest Consumer Discount Company 144 N Center St, Corry, PA 16407 +1 (814) 663 - 3711
Electrify America Charging Station 4692 PA-51, Belle Vernon, PA 15012 +1 (833) 632 - 2778
Mariner Finance 1155 Washington Pike Suite 60, Bridgeville, PA 15017 +1 (412) 319 - 7790

Payday Loan Companies in Nearby Cities

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

Beautiful sights of South Canaan, PA

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

18459

Are Payday Loans Legal In South Canaan, 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

South Canaan, PA payday loan calculator

Payday Loans in South Canaan, Pennsylvania: What You Need to Know

If you live in South Canaan, Pennsylvania, you may have heard of payday loans. These short-term loans are designed to provide quick cash to individuals who need it most. However, it’s important to note that payday loans are prohibited in Pennsylvania. In this article, we’ll provide an overview of payday loans, why they’re prohibited in Pennsylvania, and alternative options for those in need of cash.

What Are Payday Loans?

A payday loan is a short-term, high-interest loan designed to provide quick cash to borrowers. Typically, borrowers are required to repay the loan within two weeks to a month, along with fees and interest charges. Payday loans are often used by individuals who need money to cover unexpected expenses, such as car repairs or medical bills.

Here’s how payday loans work:

  • The borrower writes a post-dated check for the amount they want to borrow, plus fees and interest charges.
  • The lender gives the borrower the cash they need.
  • When the loan is due, the borrower must repay the lender in full.
  • If the borrower can’t repay the loan, they can roll it over for an additional fee.

While payday loans may seem like a quick and easy solution to financial problems, they often come with high fees and interest charges. In fact, the average APR for a payday loan is 400%. This means that a borrower who takes out a $500 payday loan would have to repay $575 within two weeks to a month.

Why Are Payday Loans Prohibited in Pennsylvania?

In 2018, Pennsylvania passed a law prohibiting payday loans. The law was passed to protect consumers from the high fees and interest charges associated with payday loans. According to advocates for the law, payday lenders were taking advantage of vulnerable consumers, trapping them in a cycle of debt they couldn’t escape.

Under the new law, payday lenders are prohibited from operating in Pennsylvania. In addition, payday loans are no longer available to Pennsylvania residents.

Alternative Options for Borrowers in Pennsylvania

If you’re in need of cash in Pennsylvania, there are alternative options available. Here are a few to consider:

  • Credit unions: Credit unions are not-for-profit financial institutions that offer loans to members. Credit union loans often come with lower interest rates and fees than payday loans.
  • Personal loans: Personal loans are unsecured loans that can be used for a variety of purposes, including unexpected expenses. Personal loans may come with lower interest rates than payday loans, but it’s important to shop around for the best deal.
  • Credit cards: If you have a credit card, you may be able to use it to cover unexpected expenses. However, it’s important to pay off your balance in full each month to avoid high interest charges.

Interesting Facts and Statistics About Payday Loans

While payday loans are prohibited in Pennsylvania, they are still legal in many other states across the country. Here are a few interesting facts and statistics about payday loans:

  • The average payday loan is $375.
  • Payday lenders in the US make approximately $7.4 billion in fees annually.
  • The average APR for a payday loan is 400%.
  • 70% of borrowers use payday loans for recurring expenses, such as rent and utilities.

Apply Now

If you’re in need of cash, TheGuaranteedLoans can help. We are a connector service that can connect you with potential lenders in your area. To apply, simply fill out our online application. Please note that we are not a direct lender, and we do not make credit decisions or endorse any particular lender or product.

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F.A.Q.

Can a payday loan company file a lawsuit against me in South Canaan, Pennsylvania?

No, a payday loan company cannot file a lawsuit against you in South Canaan, Pennsylvania because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in South Canaan, Pennsylvania?

Yes, there are federal laws that apply to payday loans in South Canaan, Pennsylvania, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.