Payday Loans in East Saint Johnsbury, Vermont

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

Company nameAddressZip codePhone number
TD Bank 58 Bonnet St, Manchester Center, VT 05255 +1 (802) 362 - 2900
People's United Bank 114 S Village Green, Middlebury, VT 05753 +1 (802) 388 - 6316
Credit Union of Vermont 2 S Main St, Rutland, VT 05701 +1 (802) 775 - 4462
People's United Bank 190 Maple St, White River Junction, VT 05001 +1 (802) 295 - 5701
People's United Bank 794 W Lakeshore Dr, Colchester, VT 05446 +1 (802) 658 - 1966
People's United Bank 401 Main St, Bennington, VT 05201 +1 (802) 442 - 6396
VSECU 194 North St, Bennington, VT 05201 +1 (800) 371 - 5162
People's United Bank 57 S Main St, Chester, VT 05143 +1 (802) 875 - 2127
United States Postal Service 5 Post Rd, Westford, VT 05494 +1 (800) 275 - 8777
Community National Bank 316 N Main St, Barre, VT 05641 +1 (802) 476 - 6565

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In East Saint Johnsbury, 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 Saint Johnsbury, VT payday loan calculator

Understanding Payday Loans in East Saint Johnsbury, Vermont

For many people, financial emergencies can arise unexpectedly. Whether it’s an overdue bill, a medical emergency or an unforeseen expense, these situations often require quick access to cash. For individuals who need money immediately and are unable to secure a traditional loan, payday loans may seem like a viable option. However, in East Saint Johnsbury, Vermont, payday loans are prohibited. In this article, we will discuss payday loans, why they are prohibited in East Saint Johnsbury, Vermont, and what alternatives may be available.

What are Payday Loans?

Payday loans are small, short-term loans that are typically due on the borrower’s next payday. These loans are usually offered by lenders with high-interest rates and fees, making them an expensive way to borrow money.

The process of obtaining a payday loan is relatively simple. The borrower agrees to repay the loan on their next payday, and the lender typically requires access to the borrower’s bank account to collect the loan funds and fees.

Why are Payday Loans Prohibited in East Saint Johnsbury, Vermont?

Payday loans are prohibited in Vermont under the Vermont Consumer Protection Act. This law was enacted in 2012 in order to protect consumers from predatory lending practices.

The Vermont Consumer Protection Act prohibits payday lenders from charging more than 18% annual interest on loans. This is significantly lower than the interest rates charged by many payday lenders in other states. Additionally, the law requires lenders to provide borrowers with a written agreement that clearly outlines the loan terms, fees, and interest rates in plain language.

Alternative Options for Borrowers in East Saint Johnsbury, Vermont

Despite the fact that payday loans are prohibited in East Saint Johnsbury, Vermont, there are alternative options that may be available to borrowers in need of quick cash. These options include:

  • Credit Union Loans: Credit Unions offer small-dollar loans with lower interest rates than payday lenders.
  • Credit Card Cash Advances: Borrowers can obtain a cash advance from their credit card company, although interest rates and fees can be high.
  • Personal Loans: Borrowers may be able to obtain a personal loan from a bank or credit union, although these loans often require good credit.

Interesting Facts About Payday Loans

  • The average APR for payday loans in the United States is 391%.
  • 78% of payday loan borrowers in the United States live paycheck to paycheck.
  • Payday lenders in the United States collect around $7 billion in fees annually.

It’s important to remember that borrowing money through payday loans can lead to a dangerous cycle of debt that can be difficult to escape. It’s important to carefully consider all options before making a decision.

Apply Now

If you require quick access to cash, TheGuaranteedLoans is a connector service that can help connect you with potential lenders. It’s important to remember that we are not a direct lender, but we can help facilitate the lending process. Applying is quick, easy, and can be done online.

At TheGuaranteedLoans, we are committed to providing our customers with the best possible service, and we understand that financial emergencies can be stressful. Our simple application process can make securing a loan easier and faster, without the high interest rates and fees associated with payday loans.

F.A.Q.

Can I take out a payday loan online in East Saint Johnsbury, Vermont?

No, even if the lender is located outside of Vermont, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in East Saint Johnsbury, Vermont?

No, it is illegal to use a payday loan from another state in East Saint Johnsbury, Vermont.

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