Payday Loans in Goodells, Michigan

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

Company nameAddressZip codePhone number
Cashland 33471 Ford Rd, Garden City, MI 48135 +1 (734) 525 - 3963
Cash Store 1817 E Sherman Blvd, Muskegon, MI 49444 +1 (231) 739 - 2274
Honor Credit Union - Urbandale 1671 W Michigan Ave, Battle Creek, MI 49037 +1 (269) 441 - 4466
Check n Go 977 S Lapeer Rd STE 4, Oxford, MI 48371 +1 (248) 969 - 2961
Citizens National Bank 580 S Nicolet St, Mackinaw City, MI 49701 +1 (231) 436 - 5271
Honor Credit Union - Paw Paw 422 S Kalamazoo St, Paw Paw, MI 49079 +1 (269) 655 - 0000
Frankenmuth Credit Union Caro Branch 1060 W Caro Rd, Caro, MI 48723 +1 (800) 221 - 8880
Ready Money 2572 US-41, Marquette, MI 49855 +1 (906) 226 - 5500
Huntington Bank 8089 Lapeer Rd, Davison, MI 48423 +1 (810) 503 - 9135
Wells Fargo Advisors 2840 Venture Dr, Marquette, MI 49855 +1 (906) 226 - 2518

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Goodells, MI, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Saint Clair Shores, MI, Payday Loans in Southfield, MI, No Credit Check Loans in Sterling Heights, MI, Payday Loan for Taylor, MI, Payday Loans in Troy, MI, No Credit Check Loans in Warren, MI, Payday Loan Without a Credit Check in Westland, MI and Payday Loan Without a Credit Check in Wyoming, 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 Goodells, MI.

Beautiful sights of Goodells, MI

Are Payday Loans Legal In Goodells, 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)

Goodells, MI payday loan calculator

Payday loans have become increasingly popular in recent years as a means of providing short-term financial assistance to individuals facing unexpected expenses or financial emergencies. In Goodells, Michigan, payday loans are legal, making them a viable option for those in need of short-term financial assistance. However, it is important to understand how payday loans work, the potential risks involved, and how to make informed decisions when considering this type of loan.

How Do Payday Loans Work?

Payday loans are short-term cash loans that are typically due on the borrower’s next payday. Borrowers can typically borrow anywhere from $50 to $1000, depending on their income and the lender’s policies. The loan is typically repaid in full, including fees and interest, on the borrower’s next payday.

Payday lenders require borrowers to provide proof of income and personal information, including their name, address, and Social Security number. Lenders may require a post-dated check or access to the borrower’s bank account as collateral for the loan.

Understanding the Risks of Payday Loans

Although payday loans may seem like a quick and easy solution to financial difficulties, they can lead to a cycle of debt that can be difficult to break. Payday lenders charge high fees and interest rates, which can add up quickly if the loan is not repaid on time. In fact, the annual percentage rate (APR) on a typical payday loan in Michigan can be as high as 391%.

If a borrower is unable to repay the loan on the due date, the lender may roll over the loan, which means extending the loan period. This can result in additional fees and interest charges, making it even more difficult to repay the loan. If the borrower is unable to repay the loan, the lender may take legal action to collect the debt.

Making Informed Decisions

If you are considering taking out a payday loan in Goodells, Michigan, it is important to carefully consider your options and make an informed decision. Before taking out a payday loan, consider the following:

  • Can you afford to repay the loan on the due date?
  • Are there any other options available to you, such as a personal loan or credit card?
  • What are the fees and interest rates associated with the loan?
  • What is the lender’s reputation and customer service record?

By carefully considering your options and making an informed decision, you can avoid the risks associated with payday loans and make the best financial decision for your circumstances.

Interesting Facts and Statistics About Payday Loans in Goodells, Michigan

  • The average payday loan amount in Michigan is $375.
  • Michigan law allows payday lenders to charge up to 15% of the loan amount in fees.
  • A recent survey found that 41% of Michiganders do not have enough savings to cover a $400 emergency expense.
  • Payday loans are banned in 15 states and the District of Columbia.
  • Michigan has the most payday lenders of any state in the Midwest, with over 550 locations statewide.

Apply Now

If you are considering taking out a payday loan in Goodells, Michigan, TheGuaranteedLoans can help connect you with potential lenders. Our service is free and easy to use. Simply fill out our online application and we will connect you with lenders who may be able to meet your needs. Remember, we are a connector service and not a direct lender. Make sure to read all loan terms and conditions carefully before signing any agreements.

F.A.Q.

What are the risks of taking out a payday loan in Goodells, Michigan?

As with any type of loan, there are risks associated with taking out a payday loan in Goodells, Michigan. One of the biggest risks is the potential for high fees and interest rates, which can make it difficult for borrowers to repay the loan on time. Additionally, some borrowers may be tempted to take out multiple loans, which can lead to a cycle of debt. It is important for borrowers to carefully consider their options and understand the potential risks before taking out a payday loan in Goodells, Michigan.

What are payday loans and how do they work in Goodells, Michigan?

Payday loans are short-term, high-interest loans that are intended to be used as a quick source of cash for people who are in need of money between paychecks. in Goodells, Michigan, payday loans are typically for small amounts of money (usually less than $500) and are required to be repaid within a short period of time (usually two to four weeks).