Payday Loans in Hessel, Michigan

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

Company nameAddressZip codePhone number
Huntington Bank 107 N Pine St, Evart, MI 49631 +1 (231) 734 - 5582
Cash Giant of Southfield 21900 W Seven Mile Rd, Detroit, MI 48219 +1 (313) 535 - 6811
Knuver Financial & Associates 121 W Sheridan St, Fremont, MI 49412 +1 (231) 924 - 2579
Northwest Michigan Community Action Agency 3963 Three Mile Rd, Traverse City, MI 49686 +1 (231) 947 - 3780
Instant Cash 3087 W Houghton Lake Dr, Houghton Lake, MI 48629 +1 (989) 366 - 6500
CASE Credit Union 730 E Saginaw Hwy, Grand Ledge, MI 48837 +1 (517) 393 - 7710
EZ Money Check Cashing 504 W Fourteenth St, Traverse City, MI 49684 +1 (231) 946 - 0977
Dart Bank 368 S Park St, Mason, MI 48854 +1 (517) 676 - 3661
L.A. Cash Advance 1600 N Mitchell St, Cadillac, MI 49601 +1 (231) 775 - 8300
Huron Community Bank 423 E Main St, Harrisville, MI 48740 +1 (989) 724 - 6719

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hessel, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Bay City, MI, Payday Loans in Bedford, MI, Payday Loans in Dearborn, MI, Payday Loans in Dearborn Heights, MI, Payday Loan for Detroit, MI, Emergency Loan in East Lansing, MI, Payday Loans in Eastpointe, MI and Payday Loans in Flint, 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 Hessel, MI.

Beautiful sights of Hessel, MI

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

49719, 49745

Are Payday Loans Legal In Hessel, 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)

Hessel, MI payday loan calculator

Payday Loans in Hessel, Michigan

Payday loans are short-term loans that are typically due on your next payday. They are designed to help you cover unexpected expenses or bills that may arise between paychecks, and are a popular option for many people who need quick access to cash.

In Michigan, payday loans are legal, and there are many lenders who offer this type of loan in the state. One such location is Hessel, Michigan, a small town located in the Upper Peninsula.

How do Payday Loans Work in Michigan?

Michigan law allows payday lenders to charge up to 15% on the first $100 borrowed, 14% on the second $100, 13% on the third $100, 12% on the fourth $100, and 11% on the fifth and sixth $100. The Maximum loan amount is $600 and the loan terms cannot exceed 31 days.

For example, if you were to borrow $300 from a payday lender in Michigan, you could expect to pay a fee of $42. This fee is added to the loan amount, and you would be required to pay back a total of $342 on your next payday.

Benefits and Drawbacks of Payday Loans in Hessel, Michigan

Payday loans can be a helpful resource when you need money quickly, but they also come with some potential drawbacks. Here are a few of the benefits and drawbacks of payday loans in Hessel, Michigan:

Benefits:

  • Quick access to cash
  • Easy application process
  • May be able to qualify with bad or no credit

Drawbacks:

  • High fees and interest rates
  • Short repayment times
  • May lead to a cycle of debt if not paid back on time

Interesting Facts and Statistics about Payday Loans in Hessel, Michigan

  • In Michigan, the average payday loan amount is $380
  • In 2020, the number of payday loans in Michigan decreased by 23%, likely due to the impact of the COVID-19 pandemic
  • A survey by the Consumer Financial Protection Bureau found that 70% of payday loan borrowers in Michigan use the funds to pay for everyday expenses like rent, utilities, and groceries
  • Research by the Pew Charitable Trusts found that the average payday loan borrower in Michigan takes out eight loans per year, and spends nearly half the year in debt as a result

Apply Now

If you live in Hessel, Michigan and are considering a payday loan, TheGuaranteedLoans can help. We provide a convenient online application process that connects you with potential lenders who may be able to offer you a loan. Please note that we are not a direct lender, but rather a connector service.

To apply for a payday loan through TheGuaranteedLoans in Hessel, Michigan, simply fill out our online form. We’ll then reach out to potential lenders who may be able to offer you a loan. If you are connected with a lender and decide to move forward with the loan offer, you will work directly with the lender to complete your loan application and receive your funds.

Remember to borrow responsibly and only take out a payday loan if you can afford to repay it on time.

F.A.Q.

Can I file for bankruptcy to discharge my payday loan debt in Hessel, Michigan?

Yes, you may be able to file for bankruptcy to discharge your payday loan debt in Hessel, Michigan, depending on your specific circumstances. It is recommended to consult with a bankruptcy attorney to determine the best course of action.

What happens if I default on my payday loan in Hessel, Michigan?

If you default on your payday loan in Hessel, Michigan, the lender may choose to pursue collections actions against you, such as garnishing your wages or seizing your assets.