Payday Loans in New Haven, Vermont

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

Company nameAddressZip codePhone number
Orlex Credit Union 5043 US-5, Newport, VT 05855 +1 (802) 334 - 5084
Movement Mortgage, LLC 68 Randall St, South Burlington, VT 05403 +1 (802) 230 - 4242
VSECU 125 St Paul St, Burlington, VT 05401 +1 (800) 371 - 5162
Citizens Bank 1117 Shelburne Rd, South Burlington, VT 05403 +1 (802) 863 - 8925
Bank of Bennington 78 Center Hill Rd, Manchester Center, VT 05255 +1 (802) 362 - 4760
Citizens Bank 84 Pearl St, Essex Junction, VT 05452 +1 (802) 878 - 1300
Maple Capital Management Inc 535 Stone Cutters Way 202, Montpelier, VT 05602 +1 (802) 229 - 2838
Union Bank 421 US-2, Danville, VT 05828 +1 (802) 684 - 2211
Pace & Hawley LLC 10 Evergreen Dr, Barre, VT 05641 +1 (802) 461 - 2587
People's United Bank 3 N Maple St, Vergennes, VT 05491 +1 (802) 877 - 3111

Payday Loan Companies in Nearby Cities

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

Beautiful sights of New Haven, VT

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

05472

Are Payday Loans Legal In New Haven, 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

New Haven, VT payday loan calculator

Payday Loans in New Haven, Vermont: What You Need to Know

Payday loans, also known as cash advances or payday advances, are short-term loans that are meant to be repaid on the borrower’s next payday. They are intended as a quick fix to help people bridge the gap between paychecks when they are faced with unexpected expenses.

However, payday loans are prohibited in Vermont, including New Haven. This means that lenders are not allowed to offer payday loans to Vermont residents, and any attempts to do so are illegal.

Why are Payday Loans Prohibited in Vermont?

Payday loans are known for their high-interest rates and fees, and they often trap borrowers in a cycle of debt that can be difficult to escape. In Vermont, lawmakers have recognized the harmful impact of these loans on consumers and have taken steps to protect them from predatory lending practices.

In 2012, Vermont passed legislation that prohibits payday loans, as well as other high-interest loans, in an effort to curb the negative effects of these loans on consumers. Since then, Vermont has become one of the few states in the country to fully outlaw payday loans.

What are the Alternatives to Payday Loans in New Haven, Vermont?

If you are in need of short-term financing in New Haven, Vermont, there are alternatives to payday loans that are available to you. Some of the most popular options include:

  • Credit unions: Local credit unions in New Haven and throughout Vermont offer small-dollar loans with affordable interest rates and flexible repayment terms.
  • Personal loans: Many online lenders and banks offer personal loans that can be used for a variety of purposes, including emergency expenses. These loans typically have lower interest rates than payday loans, and longer repayment terms.
  • Credit cards: While credit cards can be a source of high-interest debt, they can also be a useful tool in emergency situations. Look for credit cards with low interest rates and no annual fees.
  • Government assistance: If you are experiencing financial hardship, you may qualify for assistance through government programs such as Temporary Assistance for Needy Families (TANF), Supplemental Nutrition Assistance Program (SNAP), or Fuel Assistance.

Interesting Facts and Statistics about Payday Loans in Vermont

  • Vermont is one of 14 states in the country that has banned payday loans entirely.
  • The average APR on payday loans in Vermont before they were banned was 521%.
  • In 2018, Vermont’s attorney general settled with Dollar Financial Group, a payday lender, for $100,000 for violating Vermont’s consumer protection laws.
  • Between 2008 and 2012, Vermont residents paid $12 million in fees to payday lenders out of state.

Apply Now

If you are in need of short-term financing in New Haven, Vermont, TheGuaranteedLoans can help connect you with lenders who may be able to assist you. Keep in mind that we are not a direct lender, but rather a connector service that specializes in helping consumers find loans that fit their needs.

To get started, simply fill out our online application form. It’s quick, easy, and secure, and you could receive an offer in minutes. Remember to only borrow what you can afford to pay back, and to carefully read the terms and conditions of any loan you are considering.

Conclusion

Payday loans are prohibited in Vermont, but that doesn’t mean that you don’t have options if you need short-term financing. By exploring alternatives such as credit unions, personal loans, credit cards, and government assistance programs, you can find the support you need without falling victim to predatory lending practices.

F.A.Q.

Can I get a payday loan with bad credit in New Haven, Vermont?

No, payday loans are not available in New Haven, Vermont regardless of credit history.

Can I get a payday loan without a checking account in New Haven, Vermont?

No, payday loans are not available in New Haven, Vermont regardless of banking status.

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