Payday Loans in Websterville, Vermont

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

Company nameAddressZip codePhone number
Peoples Trust Company 140 Main St, Enosburg Falls, VT 05450 +1 (802) 933 - 9000
New England Federal Credit Union 1000 Shelburne Rd, South Burlington, VT 05403 +1 (800) 400 - 8790
Joe Hameline - Raymond James 40 Main St, Burlington, VT 05401 +1 (802) 448 - 6084
Heritage Family Credit Union 50 West St, Rutland, VT 05701 +1 (888) 252 - 8932
Richmond Food Shelf & Thrift Store 58 Bridge St, Richmond, VT 05477 +1 (802) 578 - 4283
Michael Gardner - Raymond James 4331 Main St, Manchester, VT 05254 +1 (802) 768 - 8357
People's United Bank 1070 North Ave, Burlington, VT 05408 +1 (802) 865 - 7940
People's United Bank 190 Maple St, White River Junction, VT 05001 +1 (802) 295 - 5701
NorthCountry Federal Credit Union 854 Center St, Lyndonville, VT 05851 +1 (800) 660 - 3258
Merchants Bank 70 Depot Square, Northfield, VT 05663 +1 (802) 485 - 5311

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Websterville, VT

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

05678

Are Payday Loans Legal In Websterville, 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

Websterville, VT payday loan calculator

Exploring Payday Loans in Websterville, Vermont

Payday loans have been around for quite some time and have become an increasingly controversial topic in the world of personal finance. Often marketed as a quick and easy solution to financial difficulties, payday loans can be an attractive option for those who need money urgently. However, as many states have discovered, payday loans can be incredibly harmful, often leading to a cycle of debt that can be difficult to escape.

Payday Loans in Vermont: An Overview

It’s important to note that in Vermont, payday loans are prohibited by law. Vermont Statutes Title 9, Chapter 41, subchapter 1A, § 41a-101 et seq. sets out the rules governing small loan lenders in Vermont. Under these rules, loans of $500 or less are regulated and subject to interest rate caps, and fees cannot exceed $10.

However, despite these clear regulations, some unscrupulous lenders may still try to offer payday loans in Vermont. It’s important to be aware of this and to avoid any lender who tries to offer a payday loan in the state.

Why Are Payday Loans Prohibited in Vermont?

Payday loans have a well-earned reputation for being predatory and exploitative. In many cases, they trap borrowers in a cycle of debt that can be incredibly difficult to escape.

In Vermont, lawmakers recognized the harm that could be caused by payday loans and took action to protect consumers. By prohibiting payday loans in the state, Vermont has taken a strong stance against predatory lending practices and ensures that its citizens are not exposed to the risks associated with these types of loans.

Alternatives to Payday Loans in Vermont

While payday loans may be prohibited in Vermont, that doesn’t mean that there aren’t other options available for those who need financial assistance. Here are some alternatives to payday loans that you may want to consider:

  • Personal Loans: Personal loans are available from a variety of lenders, including banks and credit unions. Unlike payday loans, personal loans typically have lower interest rates and are designed to be paid back over a longer period of time.
  • Credit Cards: If you have a credit card, it may be a better option than a payday loan. While credit card interest rates can be high, they are typically lower than payday loan rates, and you have the option to pay off the balance over time.
  • Payment Plans: If you are struggling to pay off a bill or expense, it may be worth speaking with the creditor to see if they offer payment plans. Many healthcare providers and utility companies offer payment plans that allow you to pay off your bill over time instead of all at once.

Interesting Facts about Payday Loans in Websterville, Vermont

  • Payday loans have been illegal in Vermont since 2012.
  • The average payday loan borrower in the United States takes out eight loans per year, spending an average of 199 days in debt.
  • Payday loans are more likely to be taken out by those with an annual income of less than $40,000.
  • The total amount of payday loans taken out in the United States in 2019 was $29.8 billion.
  • According to a 2013 study, payday loan storefronts are more likely to be found in areas with a higher percentage of African-American and Latino residents.

Apply Now

While payday loans are prohibited in Vermont, there may still be times when you need financial assistance. If you are in need of a loan, we encourage you to apply through our website. TheGuaranteedLoans is a connector service that can help you find potential lenders who may be able to offer personal loans or other forms of financial assistance. Please note that we are not a direct lender and do not make credit decisions. Instead, we strive to help you find the best loan options available to you.

If you are in need of financial assistance, please visit our website and fill out an online application today. We’re here to help.

F.A.Q.

Are payday loans legal in Websterville, Vermont?

No, payday loans are not legal in Websterville, Vermont. In fact, the state has some of the strictest laws in the country when it comes to payday lending, and it is one of only a few states that completely prohibits the practice.

What are the consequences of taking out a payday loan in Websterville, Vermont?

Taking out a payday loan in Websterville, Vermont is illegal, and violators can face significant penalties, including fines, jail time, and the revocation of their business license.

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