Payday Loans in Lake George, Michigan

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

Company nameAddressZip codePhone number
MoneyGram 1576 Wright Ave, Alma, MI 48801 +1 (989) 466 - 1974
Superior Parts and Sales 202 Sawmill Lane, Marenisco, MI 49947 +1 (906) 787 - 3360
Mortgage 1 Inc. 850 Laurence Ave STE 2, Jackson, MI 49202 +1 (517) 315 - 4626
Huntington Mortgage Group 1150 East Wilson Street, South Haven, MI 49090
Check Into Cash 5455 Gull Rd e, Kalamazoo, MI 49048 +1 (269) 381 - 5594
QuickCash MI 45460 Ford Rd, Canton, MI 48187
GreenStone Farm Credit Services 11020 Gratiot Rd, Saginaw, MI 48609 +1 (989) 781 - 4251
Advance America 26062 Twelve Mile Rd, Southfield, MI 48034 +1 (248) 356 - 3730
Flagstar Bank 1372 S Centerville Rd, Sturgis, MI 49091 +1 (269) 659 - 6230
Asset Brokers & Loans 1602 S Saginaw Rd, Midland, MI 48640 +1 (989) 631 - 9080

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lake George, MI, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Warren, MI, Payday Loans in Westland, MI, Payday Loans in Wyoming, MI, Guaranteed Loans in Ann Arbor, MI, No Credit Check Loans in Battle Creek, MI, Payday Loan Without a Credit Check in Bay City, MI, Payday Loans in Bedford, MI and Payday Loans in Dearborn, 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 Lake George, MI.

Beautiful sights of Lake George, MI

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

48632, 48633

Are Payday Loans Legal In Lake George, 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)

Lake George, MI payday loan calculator

Understanding Payday Loans in Lake George, Michigan

Payday loans have become a popular choice for people who need quick cash when faced with unexpected expenses. It’s a type of short-term loan that’s designed to be paid back on your next payday, hence the name.

In Lake George, Michigan, payday loans are legal, but there are some regulations in place to protect consumers from predatory lending practices. If you’re considering taking out a payday loan, it’s important to understand how they work, what the laws are in Michigan, and how to find a reputable lender.

How Do Payday Loans Work?

A payday loan is a small, short-term loan that’s typically due on your next payday. The amount you can borrow varies depending on the lender and the state you’re in. In Michigan, the maximum amount you can borrow for a payday loan is $600.

To apply for a payday loan, you’ll need to provide proof of income, a valid ID, and a checking account. The lender will use your checking account information to deposit the loan funds and to collect the repayment on your next payday. Some lenders may require a post-dated check as well.

When you borrow from a payday lender, you’ll typically be charged a fee and a high interest rate. For example, in Michigan, the maximum fee for a payday loan is 15% of the loan amount, and the maximum interest rate is 390%. This means that if you borrow $100, you’ll pay $15 in fees and could end up paying a total of $490 back to the lender.

The Law Surrounding Payday Loans in Michigan

Michigan has specific laws in place to regulate payday lending and protect consumers from predatory practices. For example, lenders are required to be licensed with the state and to provide borrowers with a written loan agreement that clearly outlines the terms of the loan.

Michigan law also prohibits lenders from rolling over or extending payday loans, meaning that you can’t take out a new loan to pay off an existing one. Additionally, lenders can’t charge fees for loan modifications or prepayment penalties.

How to Find a Reputable Payday Lender in Lake George

Before taking out a payday loan in Lake George, it’s important to do your research and find a reputable lender. Look for lenders who are licensed in Michigan and who have positive reviews from previous customers.

You can also check to see if the lender is a member of the Community Financial Services Association (CFSA), which is an organization that promotes responsible lending practices and consumer protection.

Interesting Facts and Statistics About Payday Loans in Lake George, Michigan

  • The average payday loan amount borrowed in Michigan is $370.
  • Payday lenders in Michigan issued nearly 1.8 million loans in 2019.
  • In 2019, Michigan payday lenders charged borrowers nearly $170 million in fees and interest.
  • Michigan has the highest payday loan fees in the nation, with an average fee of $35 for a $100 loan.

Apply Now for a Payday Loan in Lake George, Michigan

If you’re facing unexpected expenses and need a payday loan in Lake George, Michigan, TheGuaranteedLoans can help connect you with potential lenders. We’re a connector service, not a direct lender, and we work with a network of reputable lenders who are licensed in Michigan.

To get started, simply fill out our online application form and we’ll match you with a lender who can provide you with the cash you need. It’s quick, easy, and secure.

Remember, a payday loan should only be used as a last resort when you need quick cash. Make sure you understand the terms and fees associated with the loan before you borrow, and only borrow what you can realistically afford to repay on your next payday.

F.A.Q.

Can a payday lender in Lake George, Michigan take me to court if I default on my loan?

Yes, a payday lender in Lake George, Michigan can take you to court if you default on your loan. The lender may seek a judgment against you for the unpaid balance, which could result in additional legal fees and consequences. It is important to seek legal advice if you are facing this situation.

What are the requirements to qualify for a payday loan in Lake George, Michigan?

To qualify for a payday loan in Lake George, Michigan, you must be at least 18 years old, have a valid ID, a checking account, and a steady source of income.