Payday Loans in Dodgeville, Michigan

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No payday loan companies in Dodgeville, MI. Consider companies in other cities:

Company nameAddressZip codePhone number
Security Credit Union 2230 S Center Rd, Burton, MI 48519 +1 (810) 235 - 2322
Genisys Credit Union 2343 Hill Rd, Grand Blanc, MI 48439 +1 (810) 694 - 1301
Security Credit Union 8040 Holly Rd, Grand Blanc, MI 48439 +1 (810) 235 - 2322
Huntington Bank 929 S 11th St, Niles, MI 49120 +1 (269) 683 - 2444
Nicholas Financial Inc 1633 28th St SW M, Wyoming, MI 49519 +1 (616) 222 - 1640
Walmart Money Center 1180 M-32, Alpena, MI 49707
Fifth Third Bank & ATM 1231 N Leroy St, Fenton, MI 48430 +1 (810) 714 - 4100
Citizens National Bank 3990 S Straits Hwy, Indian River, MI 49749 +1 (231) 238 - 8961
Check `n Go 14844 W Seven Mile Rd, Detroit, MI 48235 +1 (313) 342 - 9620
Superior Parts and Sales 202 Sawmill Lane, Marenisco, MI 49947 +1 (906) 787 - 3360

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dodgeville, MI, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Saginaw, MI, Payday Loan Without a Credit Check in Saint Clair Shores, MI, Short-term Loans in Southfield, MI, Payday Loans in Sterling Heights, MI, Payday Loans in Taylor, MI, Guaranteed Loans in Troy, MI, Payday Loans in Warren, MI and Same Day Loans in Westland, MI. 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 Dodgeville, MI.

Are Payday Loans Legal In Dodgeville, Michigan?

Loan Rates and Fees, Laws and Regulations in Michigan.

Michigan Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)369
Maximum Loan Amount$600
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges15%-11% (depending on the number of $100 transactions)

Dodgeville, MI payday loan calculator

Disclosure: Payday loans are legal in the state of Michigan. However, borrowing money through payday loans can be a costly endeavor that is not intended to solve long-term financial issues. We encourage you to consider other options and seek advice from a financial professional before pursuing a payday loan.

Understanding Payday Loans in Dodgeville, Michigan

Payday loans are short-term loans with high-interest rates that are intended to be paid back when the borrower receives their next paycheck. This type of loan can be helpful in emergency situations when funds are needed quickly, but it can also result in a cycle of debt due to the high cost of borrowing.

In Dodgeville, Michigan, you can borrow up to $600 through a payday loan. The loan term can be up to 31 days, and the maximum finance charge for a $100 loan is $15. This means that if you borrow $100, you will pay a total of $115 when you repay the loan.

How Payday Loans Work

The process of obtaining a payday loan in Dodgeville, Michigan, is relatively straightforward. You will need to provide proof of income, such as a pay stub, and a valid ID. You may also need to provide a post-dated check or authorize an electronic debit from your bank account for the loan amount plus fees.

Once you are approved for the loan, you will receive the funds either in cash or deposited into your bank account. When the loan term is up, the lender will deposit the check or debit your account for the loan amount and fees. If you are unable to repay the loan on time, the lender may charge additional fees or rollover the loan, which can result in even more debt.

Alternatives to Payday Loans

While payday loans can be helpful in emergency situations, they should be used as a last resort due to the high cost of borrowing. There are several alternatives to payday loans that may be more affordable and sustainable in the long run.

  • Credit Card Cash Advance: If you have a credit card, you may be able to get a cash advance with a lower interest rate than a payday loan.
  • Personal Loans: Personal loans from a bank or credit union typically have lower interest rates and longer repayment terms than payday loans.
  • Payment Plans: Many creditors and service providers offer payment plans that allow you to pay off debts over time without taking out a loan.

Interesting Facts about Payday Loans in Dodgeville, Michigan

  • According to a study by the Center for Responsible Lending, the average payday loan borrower in Michigan takes out 10 loans per year.
  • In 2019, Michigan lawmakers introduced a bill that would cap payday loan interest rates at 36%, but the bill has not yet passed.
  • In 2020, the Michigan Attorney General’s office received 413 complaints about payday lending, including harassment by lenders and unauthorized withdrawals from bank accounts.

Apply Now

If you have considered your options and decided that a payday loan is the best choice for your situation, you can apply for a loan through TheGuaranteedLoans online application. We are not a direct lender but a connector service that can facilitate your connection with potential lenders. Please keep in mind that you will be responsible for repaying any loans you receive, including interest and fees.

Our online application process is quick and easy, and you could receive funds in as little as one business day. Fill out our online application today and take the first step towards getting the funds you need to handle your emergency expenses.

F.A.Q.

Can a payday lender in Dodgeville, Michigan repossess my property if I default on my loan?

No, a payday lender in Dodgeville, Michigan cannot repossess your property if you default on your loan. However, they may pursue other collections actions, such as garnishing your wages or seizing your assets.

Are payday loans in Dodgeville, Michigan regulated by the state?

Yes, payday loans in Dodgeville, Michigan are regulated by the state and must adhere to certain guidelines and restrictions, including maximum loan amounts and interest rates.