Payday Loans in Montgomery, Vermont

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

Company nameAddressZip codePhone number
New England Federal Credit Union 1000 Shelburne Rd, South Burlington, VT 05403 +1 (800) 400 - 8790
Mascoma Bank 270 River St, Springfield, VT 05156 +1 (603) 448 - 3650
United States Postal Service 4154 VT-15, Wolcott, VT 05680 +1 (800) 275 - 8777
Vermont Federal Credit Union 80 Midas Dr, South Burlington, VT 05403 +1 (888) 252 - 0202
Bennington E/E FCU 401 Gage St, Bennington, VT 05201 +1 (802) 442 - 1459
NorthCountry Federal Credit Union 12 Main St, Orleans, VT 05860 +1 (800) 660 - 3258
Bookkeeping Etc. Inc. 5527 Main St, Waitsfield, VT 05673 +1 (802) 223 - 6261
Heritage Family Credit Union 2 W Seminary St, Brandon, VT 05733 +1 (888) 252 - 8932
VSECU 194 North St, Bennington, VT 05201 +1 (800) 371 - 5162
KeyBank 185 Main St, Brattleboro, VT 05301 +1 (802) 257 - 7747

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Montgomery, VT

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

05470

Are Payday Loans Legal In Montgomery, 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

Montgomery, VT payday loan calculator

Payday Loans in Montgomery, Vermont: Everything You Need to Know

If you’re in need of quick cash, you might be considering a payday loan. However, it’s important to understand the laws surrounding payday loans in your state before applying. In Vermont, payday loans are prohibited by law. This means that companies cannot legally offer payday loans to Vermont residents.

What is a Payday Loan?

A payday loan is a type of short-term loan designed to help borrowers get cash quickly. Typically, borrowers must repay the loan in full, plus interest and fees, on their next payday. These loans are often marketed towards individuals who need cash to cover unexpected expenses or emergencies.

Why are Payday Loans Prohibited in Vermont?

While payday loans can be helpful in certain situations, they often come with high interest rates and fees. In some cases, borrowers can find themselves trapped in a cycle of debt, as they are unable to pay back the loan on their next payday and must continually roll the loan over or take out a new loan. To protect consumers from predatory lending practices, Vermont has prohibited payday loans.

What are the Alternatives to Payday Loans in Vermont?

If you’re in need of quick cash, there are several alternatives to payday loans that are available to Vermont residents. Some options include:

  • Credit Cards: If you have a credit card, you can use it to make purchases or withdraw cash advances. While credit cards also have high interest rates, they are often more manageable than payday loans.
  • Personal Loans: Personal loans from banks, credit unions, or online lenders are another option. These loans often have lower interest rates than payday loans, and borrowers can repay the loan over a longer period of time.
  • Government Assistance: If you’re struggling financially, you may be eligible for government assistance programs like SNAP (Supplemental Nutrition Assistance Program) or LIHEAP (Low Income Home Energy Assistance Program).

Interesting Facts About Payday Loans in Vermont

  • In 2020, the average payday loan in the United States had an interest rate of 391%.
  • Vermont was the first state to pass a law regulating payday loans in 2004.
  • In 2016, Vermont became the first state to completely prohibit payday loans.

Apply Now

If you’re in need of cash and want to explore your options, TheGuaranteedLoans can help connect you with potential lenders. Please note that TheGuaranteedLoans is not a direct lender, but rather a connector service that can help facilitate your connection with potential lenders. To get started, simply fill out our online application today.

Conclusion

While payday loans can be tempting, it’s important to remember that they often come with high interest rates and fees. In Vermont, payday loans are prohibited, but there are several alternatives available to borrowers in need of quick cash. By understanding your options and making an informed decision, you can avoid the pitfalls of payday loans and get the cash you need in a responsible way.

F.A.Q.

Can I be charged with a crime for taking out an illegal payday loan in Montgomery, Vermont?

No, taking out an illegal payday loan in Montgomery, Vermont is not a crime. However, the lender may face legal consequences for offering illegal loans.

Can I be sued for not paying back an illegal payday loan in Montgomery, Vermont?

No, you cannot be sued for not paying back an illegal payday loan in Montgomery, Vermont.

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