Payday Loans in Eau Claire, Michigan

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

Company nameAddressZip codePhone number
Members First Credit Union 600 W Wackerly St, Midland, MI 48640 +1 (855) 835 - 6328
Loan Simple - The McGuire Team 7120 N Haggerty Rd 200, Canton, MI 48187
Fifth Third Bank & ATM 216 N Main St, Three Rivers, MI 49093 +1 (269) 273 - 8411
Data Specialists Inc. 128 S Lafayette St, Greenville, MI 48838 +1 (616) 754 - 4652
Caliber Home Loans - Northern Michigan Mortgage Lending 300 E Front St 240, Traverse City, MI 49684 +1 (231) 486 - 5446
Gerber Collision & Glass 3820 Stadium Dr, Kalamazoo, MI 49008 +1 (269) 488 - 0688
Western Union 1405 10th St, Menominee, MI 49858 +1 (906) 863 - 6942
Genisys Credit Union 300 Smith St, Clio, MI 48420 +1 (810) 686 - 5756
Old National Bank 4431 W Centre Ave, Portage, MI 49024 +1 (269) 323 - 7448
Chase Mortgage 7645 S State St, Harbor Springs, MI 49740 +1 (231) 526 - 6243

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Eau Claire, MI, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Taylor, MI, Payday Loans in Troy, MI, Online Loans in Warren, MI, Payday Loans in Westland, MI, Online Loans in Wyoming, MI, Payday Loans in Ann Arbor, MI, Payday Loans in Battle Creek, MI and Payday Loans in Bay City, 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 Eau Claire, MI.

Beautiful sights of Eau Claire, MI

Payday Loans Available in Eau Claire, MI By The Following ZIP Codes:

49111

Are Payday Loans Legal In Eau Claire, 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)

Eau Claire, MI payday loan calculator

Payday Loans in Eau Claire, Michigan

If you are in need of quick cash in Eau Claire, Michigan, you may be considering a payday loan. Payday loans are a type of short-term loan that is typically due on your next payday. These loans are often used for unexpected expenses, such as car repairs, medical bills, or an overdue utility bill.

It’s important to note that payday loans are legal in Michigan. However, there are laws and regulations in place to protect consumers from predatory lending practices.

How do payday loans work?

When you apply for a payday loan, you will typically need to provide proof of income and a checking account. The lender will then take a post-dated check, or electronic access to your bank account, for the amount of the loan plus fees.

If you receive approval, the funds may be available to you within a few hours. When the loan is due, the lender will cash the check or withdraw the funds from your account.

What are the fees associated with payday loans?

Payday loans typically come with higher fees and interest rates than other types of loans. In Michigan, lenders can charge up to 15% of the first $100 borrowed, 14% of the second $100, 13% of the third $100, 12% of the fourth $100, and 11% of the fifth and sixth $100 borrowed. This means that if you borrow $500, you could be charged up to $65 in fees.

It’s important to carefully read and understand the terms and fees associated with a payday loan before accepting it.

What are the risks of payday loans?

While payday loans can be a helpful tool for those in need of quick cash, they also come with risks. The high fees and interest rates can make it difficult to repay the loan on time, which can lead to additional fees, interest, and even legal action. Additionally, some predatory lenders may engage in debt collection practices that are unethical or even illegal.

Interesting Facts and Statistics

  • The average payday loan in Michigan is for $375.
  • 12% of Michigan residents have taken out a payday loan in the past year.
  • Payday loans are most commonly used for car repairs and medical bills.
  • Michigan has the highest payday loan usage rate in the Midwest.

Apply Now

If you are considering a payday loan in Eau Claire, Michigan, TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application to get started. Please note that TheGuaranteedLoans is a connector service, not a direct lender. We will work to facilitate your connection with potential lenders, but we do not make lending decisions or set loan terms.

Remember to carefully read and understand the terms and fees associated with any loan before accepting it. Payday loans can be a helpful tool for those in need of quick cash, but they should be used responsibly and with caution.

F.A.Q.

Can I be arrested for not repaying my payday loan in Eau Claire, Michigan?

No, you cannot be arrested for not repaying your payday loan in Eau Claire, Michigan. However, the lender may choose to pursue legal action against you to recover the unpaid balance.

Is it illegal to take out a payday loan in Eau Claire, Michigan if I am already in debt?

No, it is not illegal to take out a payday loan in Eau Claire, Michigan if you are already in debt. However, it is important to carefully consider whether you will be able to repay the loan and avoid further financial difficulties.