Payday Loans in Chester Depot, Vermont

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No payday loan companies in Chester Depot, VT. Consider companies in other cities:

Company nameAddressZip codePhone number
Community Bank, N.A. 286 Route 7 South Green Mountain Plaza, Rutland, VT 05701 +1 (802) 747 - 5000
Citizens Bank 1117 Shelburne Rd, South Burlington, VT 05403 +1 (802) 863 - 8925
Members Advantage Community Credit Union 50 White St, South Burlington, VT 05403 +1 (802) 862 - 8184
Citizens Bank 36 Middle Rd N, Middlebury, VT 05753 +1 (802) 388 - 6791
Western Union 412 Broad St, Lyndonville, VT 05851 +1 (800) 325 - 6000
AAA Northern New England 28 Walnut St 160, Williston, VT 05495 +1 (802) 878 - 8233
Mike Heyl - State Farm Insurance Agent 2456 Christian St 203, White River Junction, VT 05001 +1 (802) 295 - 3120
Academy Mortgage - Stowe 91 Main St #3, Stowe, VT 05672 +1 (802) 253 - 2055
KeyBank 80 West St Ste 102, Rutland, VT 05701 +1 (802) 773 - 0610
Vermont Mortgage Advisor - Mark R. Chaffee, CMP NMLS 22659 354 Mountain View Dr Suite 105, Colchester, VT 05446 +1 (802) 391 - 9208

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Chester Depot, VT, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Burlington, VT. 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 Chester Depot, VT.

Beautiful sights of Chester Depot, VT

Are Payday Loans Legal In Chester Depot, Vermont?

Payday Lending is Prohibited in Vermont

Vermont Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Chester Depot, VT payday loan calculator

Payday Loans in Chester Depot, Vermont

If you live in Chester Depot, Vermont, and are in need of a payday loan, it’s important to note that payday loans are prohibited in Vermont. However, there are still options available to those who need financial assistance.

Payday loans are short-term loans with high-interest rates that are designed to be paid back on the borrower’s next payday. While they may seem like a quick fix for financial problems, they often lead to a cycle of debt that can be difficult to break.

Why are Payday Loans Prohibited in Vermont?

Vermont has prohibited payday loans to protect its citizens from predatory lending practices. Payday lenders often target vulnerable borrowers who are in need of quick cash and charge extremely high interest rates and fees.

The state of Vermont has a maximum interest rate of 18% per year for consumer loans, making payday loans illegal under state law. This means that payday lenders cannot legally operate in the state.

What Are the Alternatives to Payday Loans in Vermont?

If you’re in need of financial assistance, there are alternative options in Vermont that can help.

Credit Unions: Credit unions offer small-dollar loans with low-interest rates that can help you avoid the cycle of debt that often comes with payday loans. You do not necessarily need to be a member to apply for a loan, but membership may offer additional benefits.

Borrowing from Friends and Family: If you’re in need of a small loan, consider reaching out to friends and family for assistance. Be sure to create a repayment plan to avoid any misunderstandings.

State Assistance Programs: Vermont offers several assistance programs for those in need, including the State Emergency Relief and Assistance Program (SERAP), which provides financial assistance to families and individuals who are experiencing financial emergencies.

Employer Sponsored Advances: Some employers offer advances on paychecks or employee assistance programs that can provide short-term financial assistance.

Interests Facts about Payday Loans in Chester Depot, Vermont

While payday loans may not be available in Vermont, it’s important to understand the impact that these loans can have on individuals and families.

– According to the Pew Charitable Trusts, the average payday borrower is in debt for five months out of the year, spending an average of $520 in fees to borrow $375 in credit.

– Payday loan borrowers are more likely to file for bankruptcy than those who do not use payday loans.

– Some payday lenders target military families, offering loans with interest rates as high as 400%.

– In 2019, the Consumer Financial Protection Bureau (CFPB) proposed to roll back protections that would require payday lenders to verify a borrower’s ability to repay the loan before issuing a loan. This proposal was met with controversy and pushback from consumer advocates.

Apply Now with TheGuaranteedLoans

If you’re in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders. We are not a direct lender, but rather a connector service that specializes in payday loans, title loans, and other loan-related topics.

To apply for a loan, simply fill out our online application. We’ll review your application and connect you with potential lenders. Remember, it’s important to only borrow what you can afford to pay back, and to carefully review the terms and conditions of any loan before accepting it.

Conclusion

While payday loans may be prohibited in Vermont, there are still options available to those in need of financial assistance. Consider reaching out to credit unions, state assistance programs, or even your employer for assistance. Remember to carefully review the terms and conditions of any loan before accepting it, and only borrow what you can afford to pay back. If you’re still in need of assistance, TheGuaranteedLoans can help connect you with potential lenders.

F.A.Q.

Are there any other options for fast cash in Chester Depot, Vermont?

Consumers in Chester Depot, Vermont may be able to access funds through a credit union or bank loan, or by using a credit card or personal loan. It is also possible to sell assets or ask friends or family for financial assistance.

Are payday loans legal in Chester Depot, Vermont?

No, payday loans are prohibited in the state of Vermont.

Look for Short-Term Loans in Other Cities: