Payday Loans in Underhill, Vermont

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

Company nameAddressZip codePhone number
Community National Bank 99 State St, Montpelier, VT 05602 +1 (802) 223 - 0598
Northfield Savings Bank 2 N Main St, Randolph, VT 05060 +1 (802) 728 - 4837
People's United Bank 213 Main St, Ludlow, VT 05149 +1 (802) 228 - 8821
Desabrais Laundry & Dry Cleaning 1232 Exchange St, Middlebury, VT 05753 +1 (802) 388 - 9079
Academy Mortgage - Colchester, Vermont 105 W View Rd #110, Colchester, VT 05446 +1 (802) 399 - 2034
White River Credit Union 109 Pinnacle Rd, Randolph, VT 05060 +1 (802) 728 - 9228
NBT Bank 1 Taft Corners Shopping Center, Williston, VT 05495 +1 (802) 879 - 0809
White River Credit Union 40 Pinnacle Rd, Randolph, VT 05060 +1 (802) 728 - 9228
People's United Bank 731 VT-22A North, Fair Haven, VT 05743 +1 (802) 265 - 4927
New England Federal Credit Union UVMMC Branch 111 Colchester Ave, Burlington, VT 05401 +1 (802) 879 - 8790

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Underhill, 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 Underhill, VT.

Beautiful sights of Underhill, VT

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

05489

Are Payday Loans Legal In Underhill, 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

Underhill, VT payday loan calculator

Understanding Payday Loans In Underhill, Vermont

Payday loans are a type of short-term, unsecured loan offered to individuals who have a difficult time getting approved for traditional loans. This type of loan usually comes with a high-interest rate and can be a quick way to resolve immediate monetary problems.

Payday Loans in Vermont

Payday loans are illegal in the state of Vermont. Vermont has strict laws in place to protect residents from high-interest loans and predatory lending practices. Payday loans are usually marketed as a quick and easy solution to financial problems, but more often than not, they cause more harm than good.

How Payday Loans Work

Payday loans typically operate as follows: the borrower writes a post-dated check or gives the lender access to their bank account. The loan is then granted for a short period of time, usually until the next paycheck is received or within two weeks, whichever comes first. The borrower is required to pay back the loan amount plus interest and fees on the due date or provide the lender with access to their bank account for the payment to be withdrawn.

The Dangers of Payday Loans

Payday loans come with high-interest rates, hidden fees, and strict repayment terms. The high-interest rates can make it difficult for borrowers to repay the loan, leading to a cycle of debt and financial instability. In many cases, payday loans can lead to bankruptcy, eviction, and unemployment. The lack of regulation in the payday lending industry has led to predatory behavior and unscrupulous lending practices.

Helpful Resources for Underhill Residents

If you’re struggling with debt and need help, there are many resources available in Underhill and throughout Vermont to assist you. The Vermont Department of Financial Regulation is a great place to start. They offer free financial counseling services to Vermont residents and can help you navigate the payday lending industry. You can also contact local credit unions and nonprofit organizations for assistance.

Interesting Facts About Payday Loans In Vermont

  • Payday loans have been illegal in Vermont since 2012
  • In 2010, Vermont passed a law capping interest rates on all consumer loans at 18% APR
  • Before the outlawing of payday loans, Vermont had the lowest payday loan usage rate in the United States
  • In states where payday loans are legal, over 80% of borrowers end up rolling over their loan and incurring additional fees

Apply Now

At the Guaranteed Loans, we understand that unexpected expenses can arise when you least expect them. That’s why we work with a network of trusted lenders to connect borrowers with the funding they need. Our online application process is quick and easy, and we can help you find a lender who meets your individual needs. It’s important to note that The Guaranteed Loans is not a direct lender. We are a financial connector service that will facilitate your connection with potential lenders. Apply now and take the first step towards financial stability.

F.A.Q.

Why are payday loans illegal in Underhill, Vermont?

Payday loans are illegal in Underhill, Vermont because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Underhill, Vermont?

in Underhill, Vermont, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.

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