Payday Loans in East Haddam, Connecticut

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No payday loan companies in East Haddam, CT. Consider companies in other cities:

Company nameAddressZip codePhone number
Ike's Auto Body Inc 426 Goshen Rd 2602, Torrington, CT 06790 +1 (860) 489 - 7881
webster bank, Careers 1461 S Britain Rd, Southbury, CT 06488 +1 (800) 325 - 2424
People's United Bank 95 Main St, New Canaan, CT 06840 +1 (203) 966 - 3630
Bank of America with Drive-thru services 250 Samson Rock Dr, Madison, CT 06443 +1 (800) 432 - 1000
Bank of America with Drive-thru ATM 67 Newtown Rd, Danbury, CT 06810 +1 (203) 797 - 2123
Flagstar Bank Home Lending 29 S Main St, West Hartford, CT 06107 +1 (860) 313 - 1850
American Eagle Financial Credit Union 3579A Berlin Turnpike, Newington, CT 06111 +1 (860) 568 - 2020
Prysma Lending Group, LLC 18 Padanaram Rd, Danbury, CT 06811 +1 (203) 743 - 9985
Colonial Ford 126 Federal Rd 126, Danbury, CT 06811 +1 (203) 748 - 3503
NFP 2 Corporate Dr 234, Shelton, CT 06484 +1 (860) 346 - 9661

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in East Haddam, CT, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in New Britain, CT, Payday Loans in New Haven, CT, 24-Hour Loan in Newington, CT, Payday Loans in Norwalk, CT, Payday Loans in Norwich, CT, Same Day Loans in Shelton, CT, Bad Credit Loans in Southington, CT and Same Day Loans in Stamford, CT. 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 East Haddam, CT.

Beautiful sights of East Haddam, CT

Payday Loans Available in East Haddam, CT By The Following ZIP Codes:

06423

Are Payday Loans Legal In East Haddam, Connecticut?

Payday Lending is Prohibited in Connecticut

Connecticut Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

East Haddam, CT payday loan calculator

Understanding Payday Loans in East Haddam, Connecticut

If you’re in need of a small loan to cover unexpected expenses or emergencies, you may consider taking out a payday loan. However, it’s important to note that while payday loans are legal in many states across the US, they are prohibited in Connecticut – including East Haddam. So, what exactly are payday loans, and why are they prohibited in Connecticut?

What are Payday Loans?

A payday loan is a short-term loan with high fees that are designed to be repaid on the borrower’s next payday. These types of loans are often advertised as a quick and easy solution to financial difficulties, especially for those with poor credit or no credit history.

Payday loans typically range from $100 to $500 and are due to be paid back within two weeks. To secure a payday loan, the borrower must provide proof of income, such as a pay stub or bank statement, as well as a post-dated check or electronic access to their bank account.

Why are Payday Loans Prohibited in Connecticut?

Connecticut’s usury laws set a maximum interest rate of 12% for loans, with additional caps on other fees and charges. Payday loans, on the other hand, typically have annual percentage rates (APRs) of 400% or higher.

Due to the high fees and interest rates associated with payday loans, Connecticut lawmakers decided to ban these types of loans entirely to protect consumers from predatory lending practices.

What are the Alternatives to Payday Loans in East Haddam, Connecticut?

If you’re in need of a small loan in East Haddam, there are alternatives to payday loans that may be a better fit for your financial situation:

  • Credit union loans: If you’re a member of a credit union, you may be eligible for a low-interest personal loan.
  • Personal loans: Some banks and online lenders offer personal loans with lower interest rates than payday loans.
  • Credit counseling: If you’re struggling with debt and financial stress, credit counseling can provide you with personalized advice and support.

Interesting Facts and Statistics about Payday Loans in East Haddam, Connecticut

  • In 2018, Connecticut’s Department of Banking received 5,060 complaints about payday lenders.
  • The average annual percentage rate (APR) on a payday loan in Connecticut is 399%.
  • Connecticut’s usury laws were initially enacted in 1642.

Apply Now

While payday loans are not available in Connecticut, TheGuaranteedLoans can help connect you with potential lenders in your state who offer alternative loan options. Fill out our online application to get started, and remember that we are a connector service, not a direct lender. We prioritize the safety and satisfaction of our customers and aim to provide a transparent service that connects borrowers with reputable lenders who can best meet their needs.

F.A.Q.

Where can I get more information about payday loans in East Haddam, Connecticut?

More information about payday loans in East Haddam, Connecticut can be found on the Connecticut State Department of Financial Services website. You can also contact the department directly with any questions or concerns.

Are payday loans available in East Haddam, Connecticut?

No, payday loans are prohibited in East Haddam, Connecticut.