Payday Loans in East Arlington, Vermont

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No payday loan companies in East Arlington, VT. Consider companies in other cities:

Company nameAddressZip codePhone number
United States Postal Service 67 Dover Rd, Williamsville, VT 05362 +1 (800) 275 - 8777
TD Bank 27 E Allen St, Winooski, VT 05404 +1 (802) 655 - 3110
Community Bank, N.A. 25 Ralph Lehman Dr, White River Junction, VT 05001 +1 (802) 295 - 2307
Burlington Mitsubishi 1835 Shelburne Rd, South Burlington, VT 05403 +1 (802) 865 - 4400
Heritage Family Credit Union 50 West St, Rutland, VT 05701 +1 (888) 252 - 8932
Upper Valley Auto Mart 7 Pine St, White River Junction, VT 05001 +1 (802) 281 - 6343
United States Postal Service 1401 US-2, Marshfield, VT 05658 +1 (800) 275 - 8777
Vermont Federal Credit Union 100 Panton Rd, Vergennes, VT 05491 +1 (888) 252 - 0202
NBT Bank 2 Commonwealth Ave, Essex Junction, VT 05452 +1 (802) 878 - 7202
TD Bank 424 Main St, Barton, VT 05822 +1 (802) 525 - 6521

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in East Arlington, 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 East Arlington, VT.

Are Payday Loans Legal In East Arlington, 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

East Arlington, VT payday loan calculator

In recent years, payday loans have become a popular option for people in need of fast cash. However, in East Arlington, Vermont, payday loans are prohibited by state law. While payday loans may seem like an attractive option for those in need of quick cash, they are often predatory in nature and can lead to a cycle of debt that is difficult to escape from.

What are payday loans?

Payday loans are a type of short-term loan that typically have high interest rates and fees. These loans are usually due on the borrower’s next payday and are often used by people who need cash quickly to cover unexpected expenses.

In Vermont, payday lending is illegal. This means that borrowers cannot obtain payday loans from lenders operating within the state. This is because payday loans are often used by lenders to take advantage of vulnerable borrowers, resulting in high rates of default and a cycle of debt that is difficult to escape from.

Why are payday loans prohibited in Vermont?

Payday loans are prohibited in Vermont due to concerns about their predatory nature. Lenders often target vulnerable borrowers who are in desperate need of cash, and then charge high interest rates and fees that make it difficult for borrowers to pay back the loan.

In addition, the high interest rates and fees associated with payday loans often result in borrowers taking out multiple loans to pay off the original loan. This can lead to a cycle of debt that is difficult to escape from, and can have serious consequences for borrowers and their families.

What are the alternatives to payday loans in Vermont?

In Vermont, there are several alternatives to payday loans that are available to borrowers in need of fast cash.

  • Credit union loans: Many credit unions offer small-dollar loans to their members, often with more favorable terms than payday loans.
  • Personal loans: Borrowers may also be able to obtain personal loans from banks or online lenders. These loans typically have lower interest rates and longer repayment terms than payday loans.
  • Credit card cash advances: While not an ideal option, credit card cash advances can provide fast cash to borrowers in need. However, borrowers should be aware of the high interest rates and fees associated with this type of loan.

It is important to note that borrowers should always consider their options carefully and avoid taking on debt that they cannot afford to repay.

Facts and statistics about payday loans in East Arlington, Vermont

  • In 2018, the state of Vermont received 20 complaints about payday lenders, despite payday lending being illegal in the state.
  • Payday lenders in Vermont often operate online, making it difficult for the state to regulate them.
  • The average interest rate for a payday loan in Vermont is over 500%, according to a 2019 study by the Vermont Public Interest Research Group.
  • On average, borrowers in Vermont take out eight payday loans per year, according to the same study.

Apply Now

While payday loans are prohibited in East Arlington, Vermont, TheGuaranteedLoans can help connect you with lenders who offer other types of loans. As a connector service, we work with a network of lenders to help you find the loan that best meets your needs.

To get started, simply fill out our easy online application. We’ll take care of the rest, connecting you with lenders who may be able to offer you the cash you need.

Remember, it’s important to always consider your options carefully and avoid taking on debt that you cannot afford to repay. If you’re in need of fast cash, explore alternatives to payday loans and work with reputable lenders who offer fair terms and transparent fees.

F.A.Q.

Are there any alternatives to payday loans in East Arlington, Vermont?

Yes, there are several alternatives to payday loans in East Arlington, Vermont, including credit unions, community development financial institutions, and small-dollar loan programs offered by banks and credit unions.

Can I still take out a payday loan if I live in East Arlington, Vermont but the lender is based in another state?

No, it is illegal for payday lenders to offer loans to residents of Vermont, regardless of where the lender is located.

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