Payday Loans in Woodland, Michigan

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

Company nameAddressZip codePhone number
Mr Payroll 501 E Michigan Ave, Ypsilanti, MI 48198 +1 (734) 485 - 5070
Security Credit Union 1675 N Lapeer Rd, Lapeer, MI 48446 +1 (810) 235 - 2322
Bank of America with Drive-thru services 2000 Lake Michigan Dr NW, Grand Rapids, MI 49504 +1 (616) 791 - 4250
MoneyGram 400 Us Highway 41 E, Ste 103, Negaunee, MI 49866 +1 (906) 475 - 4905
Legacy Consultants of Thrivent Financial 19045 Farmington Rd, Livonia, MI 48152 +1 (734) 432 - 7777
Michigan One Community Credit Union 3081 Commerce Lane, Ionia, MI 48846 +1 (616) 527 - 3900
Flagstar Bank 354 E Chicago St, Coldwater, MI 49036 +1 (517) 278 - 9887
Check `n Go 14306 Gratiot Ave, Detroit, MI 48205 +1 (313) 521 - 3146
Advance America 828 E Eleven Mile Rd, Royal Oak, MI 48067 +1 (248) 414 - 4269
Big Picture Loans N5380 US-45, Watersmeet, MI 49969 +1 (800) 584 - 4880

Payday Loan Companies in Nearby Cities

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

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

48897

Are Payday Loans Legal In Woodland, 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)

Woodland, MI payday loan calculator

Payday Loans in Woodland, Michigan

If you live in Woodland, Michigan, and find yourself in a financial emergency, a payday loan might be an attractive option to consider. Payday loans are short-term loans that can help you bridge the gap between paychecks. They are widely available and easy to obtain, making them a popular choice for many people. However, it’s important to understand the risks associated with payday loans, including high interest rates and fees.

How Do Payday Loans Work?

Payday loans are typically small, short-term loans that are usually due on the borrower’s next payday. The loan amount is based on the borrower’s income and typically ranges from $100 to $1,000. The borrower writes a post-dated check for the loan amount plus fees, or authorizes an electronic withdrawal from their bank account on the due date.

When the loan comes due, the borrower must pay back the loan amount plus fees. If the borrower can’t repay the loan on time, they may be able to roll it over for an additional fee. This can quickly lead to a cycle of debt, as the borrower continues to pay fees without actually paying off the loan.

Are Payday Loans Legal in Michigan?

Yes, payday loans are legal in Michigan. However, there are certain restrictions that lenders must follow. For example, lenders cannot charge more than 15% of the loan amount in fees. Additionally, borrowers are limited to one loan at a time, and they can only take out a total of two loans in a 90-day period. Lenders must also provide borrowers with a written contract that outlines the terms of the loan.

What Are the Risks of Payday Loans?

While payday loans can be a helpful tool in a financial emergency, they come with significant risks. The high interest rates and fees associated with payday loans can cause borrowers to fall into a cycle of debt, as they struggle to repay the loan and keep up with their other expenses. Additionally, payday loans can negatively impact the borrower’s credit score if they are not paid back on time.

Interesting Facts and Statistics about Payday Loans in Woodland, Michigan

– According to a report by the Michigan Department of Insurance and Financial Services, the average payday loan in Michigan is $369, with an average APR of 369%.
– In 2018, Michigan residents took out more than 1.8 million payday loans, with a total loan volume of over $1.3 billion.
– The payday lending industry in Michigan employs more than 3,900 people and contributes over $22 million in state and local taxes each year.

Apply Now

If you’re considering a payday loan in Woodland, Michigan, TheGuaranteedLoans.com can help connect you with potential lenders. We are a secure and reliable connector service, and we work with a network of trusted lenders to help you find the best loan options for your needs. Our online application process is fast and easy, and you can get connected with a lender in just minutes.

Remember, payday loans can be a helpful tool in a financial emergency, but they come with risks. Make sure you understand the terms of the loan before you apply, and only borrow what you can afford to repay. And if you need help finding a loan, TheGuaranteedLoans is here to connect you with potential lenders who can help.

F.A.Q.

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

As with any type of loan, there are risks associated with taking out a payday loan in Woodland, 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 Woodland, Michigan.

What are payday loans and how do they work in Woodland, 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 Woodland, 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).