Payday Loans in Florence, Vermont

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

Company nameAddressZip codePhone number
United States Postal Service 12 Batten Rd, East Calais, VT 05650 +1 (800) 275 - 8777
Mascoma Bank 292 VT-110, Chelsea, VT 05038 +1 (603) 448 - 3650
TD Bank 500 Main St, Bennington, VT 05201 +1 (802) 447 - 7533
Homebridge Financial Services, Inc. 68 Randall St Suite 1, South Burlington, VT 05403 +1 (802) 231 - 0221
Community Bank, N.A. 4996 Main St, Manchester Center, VT 05255 +1 (802) 362 - 2156
Community National Bank US-5, Derby, VT 05829
TD Bank 111 Main St, Burlington, VT 05401 +1 (802) 658 - 1010
River Valley Credit Union 34 Clinton St, Springfield, VT 05156 +1 (802) 885 - 4565
Yankee Farm Credit ACA 289 Hurricane Ln 202, Williston, VT 05495 +1 (802) 879 - 4700
NorthCountry Federal Credit Union 37 Upper, Munson Ave, Morrisville, VT 05661 +1 (800) 660 - 3258

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Florence, VT, you can try to find different companies in big cities near by. Check out the following pages here: Same Day 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 Florence, VT.

Payday Loans Available in Florence, VT By The Following ZIP Codes:

05744

Are Payday Loans Legal In Florence, 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

Florence, VT payday loan calculator

A payday loan can be a lifesaver for those living paycheck to paycheck or facing unexpected expenses. However, it’s important to understand the laws surrounding payday loans in your state. If you’re living in Florence, Vermont, it’s essential to know that payday loans are prohibited in Vermont.

What are Payday Loans?

Payday loans are typically short-term, high-interest loans intended for individuals to cover unexpected expenses or bridge the gap between paychecks. These loans usually have high fees and interest rates and require the borrower to pay back the loan by their next payday.

In other states, payday loans are often marketed to low-income individuals, often resulting in financial hardship and a cycle of debt. These loans can be incredibly dangerous if not used responsibly.

Payday Loan Laws in Vermont

Vermont is one of the few states that have completely outlawed the practice of payday loans. Whether online or in-person, there are no lenders licensed to provide payday loans in Vermont. In other words, if you’re living in Florence, Vermont, you will not be able to access payday loans legally.

The state’s laws are in place to protect borrowers from high-interest rates and fees. Vermont has a strict cap on the interest rate any lender can charge, making it difficult for payday lenders to operate in the state. In addition, Vermont requires lenders to be licensed and follow regulations. This ensures that any lender operating in the state is reputable and follows the rules.

If a lender is found to be operating illegally, they can face consequences such as lawsuits and even criminal charges.

Interesting Facts and Statistics about Payday Loans in Florence, Vermont

  • Vermont has one of the lowest poverty rates in the country, at less than 10%.
  • Over 80% of payday loans are rolled over into new loans within two weeks, according to the Consumer Financial Protection Bureau.
  • The average payday loan borrower takes out eight loans per year.

Applying for a Loan

While payday loans are prohibited in Vermont, TheGuaranteedLoands can still help connect you with other loan options. Our service serves as a connector, placing borrowers with potential lenders. To apply, simply fill out an online application on our website.

We work with a variety of lenders, each with their own rules, regulations, and requirements. This can make it easier to find a loan that works for you. However, it is important to read all loan documents carefully and ensure that you understand the terms of the loan. You should also confirm that the lender is licensed to operate in Vermont.

Conclusion

Payday loans can be a quick fix for those dealing with financial emergencies. However, it’s crucial to understand the state’s laws surrounding these loans. If you’re living in Florence, Vermont, payday loans are not an option. Instead, consider alternate loan options, which may have lower interest rates and more secure repayment terms.

F.A.Q.

Can a payday loan company garnish my wages in Florence, Vermont?

No, a payday loan company cannot garnish your wages in Florence, Vermont because these loans are illegal in the state.

Can a payday loan company repossess my property in Florence, Vermont?

No, a payday loan company cannot repossess your property in Florence, Vermont because these loans are illegal in the state.

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