Payday Loans in Paris Crossing, Indiana

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No payday loan companies in Paris Crossing, IN. Consider companies in other cities:

Company nameAddressZip codePhone number
Advance America 35 Beck Ln #103, Lafayette, IN 47909 +1 (765) 471 - 0516
German American Bank 1508 12th St, Tell City, IN 47586 +1 (812) 547 - 7025
Thrivent Financial for Lutherans 64 Lake St, Knox, IN 46534 +1 (574) 970 - 3335
Western Indiana Credit Union 949 W IN-154, Sullivan, IN 47882 +1 (812) 268 - 1196
Same Day Bad Credit Loans 47 Pearl St, New Albany, IN 47150 +1 (930) 205 - 7339
First Financial Bank 819 W Main St, Farmersburg, IN 47850 +1 (812) 696 - 2106
Hoosier Heartland State Bank 1661 South, US-231, Crawfordsville, IN 47933 +1 (765) 364 - 0784
Thrivent Financial for Lutherans 306 Cherry St, Lizton, IN 46149 +1 (317) 863 - 7516
Advance America 1504 N State St, Greenfield, IN 46140 +1 (317) 467 - 9850
Grand Heritage Credit Union 201 Koomler Dr, La Porte, IN 46350 +1 (219) 324 - 5220

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Paris Crossing, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Kokomo, IN, Payday Loans in Lafayette, IN, Payday Loans in Merrillville, IN, Payday Loan for Michigan City, IN, 24-Hour Loan in Mishawaka, IN, Payday Loans in Muncie, IN, Payday Loans in New Albany, IN and Payday Loan for Noblesville, IN. 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 Paris Crossing, IN.

Are Payday Loans Legal In Paris Crossing, Indiana?

Loan Rates and Fees, Laws and Regulations in Indiana.

Indiana Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)382
Maximum Loan Amount$550
Minimum Loan Term14 days
Maximum Loan TermNot Specified
Number of Rollovers Allowed0
Finance Charges<$250 = 15% $250 - $400 = 13% $400 - $500 = 10%

Paris Crossing, IN payday loan calculator

Understanding Payday Loans in Paris Crossing, Indiana

Payday loans are short-term loans that are commonly used to help people cover expenses until their next payday. While they can be a helpful option for individuals in need of quick cash, they can also come with high fees and interest rates.

If you are living in Paris Crossing, Indiana, you should know that payday loans are legal in the state. However, it’s important to understand the regulations and requirements surrounding these types of loans before taking one out. In this guide, we’ll go over everything you need to know about payday loans in Paris Crossing, Indiana.

Regulations on Payday Loans in Paris Crossing, Indiana

Indiana state law allows payday loan lenders to operate in the state, so long as they follow certain regulations:

  • The maximum loan amount for payday loans is $550
  • The loan term must be between 14-30 days
  • Borrowers are not allowed to take out more than two loans at one time
  • The maximum finance charge for a payday loan is 15% on the first $250 of the loan amount, and 13% on any amount above $250
  • The APR (annual percentage rate) for a 14-day $100 loan is 390%

It’s important to note that while payday loans are legal in Indiana, they are not always the best financial option for everyone. The high fees and interest rates associated with these loans can make them difficult to repay, especially if you are already living on a tight budget.

Benefits of Payday Loans in Paris Crossing, Indiana

While payday loans can come with high costs, there are certain benefits to using this type of loan. Some of the benefits of payday loans include:

  • Quick access to cash: If you are in need of a small amount of cash quickly, payday loans can provide you with the funds you need within a short period of time.
  • Easy to qualify for: Unlike traditional loans that require a high credit score and lengthy application process, payday loans are often easier to qualify for, even if you have poor credit history.
  • No collateral required: Payday loans are unsecured loans, which means you don’t have to provide any collateral in order to be approved for a loan.

Risks of Payday Loans in Paris Crossing, Indiana

While payday loans come with certain benefits, they also come with certain risks. It’s important to consider these risks before taking out a payday loan:

  • High costs: As previously discussed, payday loans come with high fees and interest rates, which can make it difficult for borrowers to repay their loans on time.
  • Cycle of debt: Because payday loans are designed to be repaid within a short period of time, borrowers may find themselves in a repetitive cycle of debt. This is because if they cannot repay the loan in full, they may end up taking out another loan to cover the remaining balance. This cycle can be difficult to break.
  • No credit improvement: While traditional loans can help borrowers improve their credit score over time, payday loans do not offer this benefit.

Apply Now

If you are considering a payday loan in Paris Crossing, Indiana, it’s important to understand the risks and benefits associated with this type of loan. At TheGuaranteedLoans, we understand the importance of finding the right financial solution for your needs. That’s why our website acts as a connecting service, helping you connect with potential lenders who may be able to offer you the funds you need.

You can fill out an online application on our website and receive a loan decision within minutes. It’s important to remember that we are not a direct lender, but a connector service that can help you find the right lender for your needs.

Interesting Facts and Statistics about Payday Loans in Indiana

  • Indiana has some of the highest payday loan rates in the country, with an average interest rate of 391%.
  • Around 75% of payday loan borrowers in Indiana take out multiple loans within a year.
  • Indiana payday loan borrowers have an average income of $19,000 per year.

While these statistics highlight the prevalence of payday loans in Indiana, it’s important to remember that payday loans are not always the best financial option for everyone.

Conclusion

If you are considering a payday loan in Paris Crossing, Indiana, it’s important to understand the regulations and requirements surrounding this type of loan. While payday loans can provide you with quick access to cash, they also come with high fees and interest rates that can make them difficult to repay. At TheGuaranteedLoans, we can help you find the right lender for your needs. Apply now to find out what options are available to you.

F.A.Q.

Is it possible to consolidate multiple payday loans in Paris Crossing, Indiana into one loan?

Yes, it may be possible to consolidate multiple payday loans in Paris Crossing, Indiana into one loan with a lower interest rate and more manageable repayment schedule. This can be done through a debt consolidation program or by refinancing the loans with a personal loan from a bank or credit union.

Are there any restrictions on how payday lenders in Paris Crossing, Indiana advertise their services?

Yes, Indiana state law has several restrictions on how payday lenders can advertise their services, including prohibitions on using false or misleading information, targeting vulnerable populations, and using aggressive or harassing sales tactics. Lenders must also clearly disclose all fees and terms of the loan in their advertising.