Payday Loans in Westpoint, Indiana

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

Company nameAddressZip codePhone number
Advance America 2213 S Scatterfield Rd #4, Anderson, IN 46016 +1 (765) 683 - 9620
Hometown Loan 1682 E Commercial Ave, Lowell, IN 46356 +1 (219) 696 - 7296
Chase Bank 1881 Old Hwy 135, Corydon, IN 47112 +1 (812) 738 - 3032
Horizon Bank 301 Boyd Blvd, La Porte, IN 46350 +1 (219) 326 - 0500
Check Into Cash 420 E McGalliard Rd, Muncie, IN 47303 +1 (765) 288 - 1200
Ace Pawn Shop 532 S Walnut St, Bloomington, IN 47401 +1 (812) 339 - 2559
Cashland 301 E Diamond Ave, Evansville, IN 47711 +1 (812) 421 - 0265
Cash In A Flash 8327 Kennedy Ave, Highland, IN 46322 +1 (219) 838 - 1845
Antwerp Exchange Bank 10726 Thimler Rd, Harlan, IN 46743 +1 (260) 657 - 1000
Check n' Go 265 Morthland Dr., Unit B, Valparaiso, IN 46385 +1 (219) 465 - 6840

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Westpoint, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Plainfield, IN, Same Day Loans in Portage, IN, Guaranteed Loans in Richmond, IN, Payday Loan Without a Credit Check in South Bend, IN, Payday Loan for Terre Haute, IN, Payday Loans in Valparaiso, IN, Quick Loan in West Lafayette, IN and Payday Loans in Westfield, 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 Westpoint, IN.

Beautiful sights of Westpoint, IN

Are Payday Loans Legal In Westpoint, 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%

Westpoint, IN payday loan calculator

Understanding Payday Loans in Westpoint, Indiana

If you live in Westpoint, Indiana, you’re likely familiar with payday loans. These loans are a type of short-term loan that provides you with the cash you need to get by until your next payday. Payday loans are legal in Indiana, but they come with some regulations that you must abide by.

How Payday Loans Work

Payday loans are easy to understand. They work by allowing you to borrow a small amount of money, typically between $100 and $1,000, from a lender. You are then required to pay back the loan, plus interest and fees, by your next payday, which is usually within 14-30 days.

When you apply for a payday loan, you will need to provide proof of income and identification. You can apply for a loan either in-person at a lender’s office or online. If you’re approved for the loan, the lender will deposit the money directly into your bank account, or give you cash if you applied in-person.

The Pros and Cons of Payday Loans

Payday loans are convenient, but they come with some drawbacks that you should be aware of before you apply.

Pros

  • Quick approval and funding
  • No collateral required

Cons

  • High interest rates and fees
  • Short repayment terms
  • Potential for predatory lending practices

Regulations on Payday Loans in Indiana

As mentioned earlier, payday loans are legal in Indiana, but there are some rules that lenders must follow.

Firstly, lenders cannot lend more than $550 to any borrower at one time. Additionally, the repayment term cannot exceed 14-30 days. The finance charge on a $100 payday loan for 14 days must not exceed $15, and the APR on a 14-day loan is capped at 390%. Finally, rollovers, renewals, and extensions are prohibited.

Interesting Facts and Statistics About Payday Loans in Westpoint, Indiana

  • As of 2021, there are 61 payday lenders in the state of Indiana, with 13 of them located in Tippecanoe County, which includes the town of Westpoint.
  • In 2020, the number of payday loans issued in Tippecanoe County was 2,308, with a total loan volume of $905,954.
  • The average APR on payday loans in Indiana is around 391%, which is higher than the national average of 391%.
  • In some cases, borrowers may end up paying more in interest and fees than the amount they originally borrowed.

Apply Now

If you’re in need of cash and are considering a payday loan, you may be able to find a lender in Westpoint, Indiana. However, it’s important to remember that payday loans come with high interest rates and fees and may not be the best option for everyone.

If you do decide to apply for a payday loan, you can use TheGuaranteedLoans website to connect with potential lenders. We act as a connector service, not a direct lender, and we work with a network of lenders who may be able to provide you with the cash you need. Fill out our online application today to get started.

F.A.Q.

What should I do if I feel that a payday lender in Westpoint, Indiana is acting illegally or unfairly?

If you feel that a payday lender in Westpoint, Indiana is acting illegally or unfairly, you can file a complaint with the Indiana Department of Financial Institutions. This agency is responsible for regulating payday lenders in the state and will investigate any complaints received.

Are there any organizations in Westpoint, Indiana that can provide assistance with payday loan debt?

Yes, there are several organizations in Westpoint, Indiana that can provide assistance with payday loan debt, including credit counseling agencies and legal aid organizations. These organizations can help you develop a repayment plan, negotiate with lenders, and explore other debt relief options.