Payday Loans in Worcester, Vermont

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

Company nameAddressZip codePhone number
Barb A McHenry Fairway Independent Mortgage Corporation Loan Officer 110 Kimball Ave Suite 120, South Burlington, VT 05403 +1 (802) 489 - 7172
People's United Bank 112 State St, Montpelier, VT 05601 +1 (802) 223 - 3466
Citizens Bank 68 Helena Dr, Williston, VT 05495 +1 (802) 872 - 3160
NorthCountry Federal Credit Union 1474 E Main St, Newport, VT 05855 +1 (800) 660 - 3258
Yankee Farm Credit Aca 1436 Exchange St # 1, Middlebury, VT 05753 +1 (802) 388 - 2692
Kirby Mary L 204 S Main St, Rutland, VT 05701 +1 (802) 775 - 7102
Peregrine Wealth Management of Raymond James 20 Jolina Ct Ste 3, Richmond, VT 05477 +1 (802) 434 - 5800
Heritage Family Credit Union 50 West St, Rutland, VT 05701 +1 (888) 252 - 8932
Vermont Federal Credit Union 1 Court St, Middlebury, VT 05753 +1 (888) 252 - 0202
One Credit Union 1 Market Pl #8, Essex Junction, VT 05452 +1 (800) 578 - 5024

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Worcester, VT

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

05682

Are Payday Loans Legal In Worcester, 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

Worcester, VT payday loan calculator

Payday Loans in Worcester, Vermont: What You Need to Know

While payday loans can be a fast way to get some cash when you’re in a pinch, they can also come with some serious downsides. In the state of Vermont, payday loans are illegal, which means that if you live in Worcester, you won’t be able to take out a payday loan.

If you’re looking for quick cash in Worcester, there are still options available to you. This article will explore some of those options and provide you with all of the information you need to make an informed decision.

What are Payday Loans?

Payday loans are short-term loans that are typically due on your next payday. They are typically small loans, usually less than $500, that come with high interest rates and fees.

While they can seem like a quick fix for a financial emergency, payday loans often come with a cycle of debt that’s difficult to escape. In fact, the average payday loan borrower takes out eight loans per year and pays back a total of $520 in interest and fees for a loan that was originally $375.

Payday Loans Are Prohibited in Vermont

As we mentioned earlier, payday loans are illegal in Vermont. In fact, Vermont is one of 16 states that have banned payday lending entirely. This means that lenders cannot operate in Vermont and cannot make loans to Vermont residents.

The state of Vermont chose to ban payday lending because of the high interest rates and fees associated with these types of loans. Instead, Vermont residents are encouraged to explore other options that don’t come with the same risks.

Alternative Options for Quick Cash

If you’re in Worcester and in need of cash, there are several options available to you that don’t involve taking out a payday loan. Some of these options include:

  • Personal Loans: Personal loans are a type of installment loan that can be used for a variety of purposes, including to cover unexpected expenses. Unlike payday loans, personal loans typically come with lower interest rates and longer repayment terms, which can make them a more manageable option for many borrowers.
  • Credit Cards: If you have a credit card, you can use it to cover unexpected expenses. While credit cards come with interest rates and fees, they’re usually lower than those associated with payday loans.
  • Family and Friends: While borrowing from family and friends can be awkward, it’s often a better option than taking out a payday loan. If you go this route, be sure to put the terms of your loan in writing to avoid any misunderstandings later on.

Interesting Facts About Payday Loans in Worcester, Vermont

  • Payday loans are prohibited in Vermont, along with 15 other states and the District of Columbia.
  • Payday lenders often target people who are already struggling financially, which can trap them in a cycle of debt.
  • In Vermont, there are no payday lending stores. However, some online payday lenders may still try to offer loans to Vermont residents.
  • The average interest rate for payday loans in Vermont was 250% before they were banned.

Apply Now

If you’re looking for a fast way to get cash in Worcester, TheGuaranteedLoans can help connect you with potential lenders. Our application process is quick and easy, and we’ll work with you to find a solution that meets your needs. Remember that we are a connector service, not a direct lender, and we are committed to finding you a loan that fits your financial situation.

To get started, fill out an application on our website today.

Final Thoughts

While payday loans can seem like a quick fix for financial problems, they often come with high interest rates and fees that can put you in a worse financial situation over time. If you’re in Worcester and need cash, be sure to explore all of your options before you consider taking out a payday loan.

Ultimately, the best way to avoid payday loans is to build up an emergency fund so that you have money on hand when unexpected expenses arise. By putting aside a small amount of money each month, you can avoid the cycle of debt that often comes with payday loans.

F.A.Q.

Can a payday loan company report me to a credit bureau in Worcester, Vermont?

No, a payday loan company cannot report you to a credit bureau in Worcester, Vermont because these loans are illegal in the state.

Can a payday loan company take me to court in Worcester, Vermont?

No, a payday loan company cannot take you to court in Worcester, Vermont because these loans are illegal in the state.

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