Payday Loans in New Laguna, New Mexico

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No payday loan companies in New Laguna, NM. Consider companies in other cities:

Company nameAddressZip codePhone number
New Mexico Credit 880 Anthony Dr Suite 8A, Anthony, NM 88021 +1 (936) 254 - 1900
World Finance 1008 Paseo Del Pueblo Sur # B, Taos, NM 87571 +1 (575) 751 - 9000
AAA Quick Cash Advance 419 E Main St, Farmington, NM 87401 +1 (505) 600 - 3013
Your Credit, Inc 1911 St Michaels Dr f, Santa Fe, NM 87507 +1 (505) 820 - 0087
Liberty Finance 2601 N Main St C, Roswell, NM 88201 +1 (575) 623 - 5457
King Mortgage Inc 304 Paseo Del Pueblo Sur, Taos, NM 87571 +1 (575) 751 - 1030
Citizens Bank 320 W Broadway Ave, Bloomfield, NM 87413 +1 (505) 599 - 0100
LendNation 1698 Rio Bravo Blvd SW Ste 1, Albuquerque, NM 87105 +1 (505) 452 - 0200
Supreme Lending 2480 Roadrunner Pkwy C, Las Cruces, NM 88011 +1 (575) 382 - 2016
New Mexico Title Loans, Inc. 460 S County Line Dr, Chaparral, NM 88081 +1 (575) 824 - 4056

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in New Laguna, NM, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Hobbs, NM, Payday Loan for Las Cruces, NM, Payday Loans in Rio Rancho, NM, 24-Hour Loan in Roswell, NM, Payday Loans in Santa Fe, NM, Same Day Loans in Alamogordo, NM, Payday Loans in Albuquerque, NM and Quick Loan in Clovis, NM. 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 New Laguna, NM.

Are Payday Loans Legal In New Laguna, New Mexico?

Loan Rates and Fees, Laws and Regulations in New Mexico.

New Mexico Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)Not specified
Maximum Loan AmountNot specified
Minimum Loan TermNot specified
Maximum Loan TermNot specified
Number of Rollovers AllowedNot specified
Finance Charges

New Laguna, NM payday loan calculator

Payday Loans in New Laguna, New Mexico: Your Guide to Short-Term Lending

Life can be unpredictable, and unexpected expenses can often catch us off guard. When you’re facing a financial crisis, a payday loan can be a helpful solution to bridge the gap between paychecks. Payday loans are short-term loans that are typically due on your next payday, and they can help you cover unexpected expenses, such as car repairs or medical bills.

While payday loans can provide temporary relief from financial stress, they can also come with risks and fees. In this article, we’ll take a look at payday loans in New Laguna, New Mexico, and what you need to know if you’re considering this type of loan.

How Payday Loans Work in New Laguna, New Mexico

Payday loans are legal in New Mexico, and they are regulated by the New Mexico Regulation and Licensing Department. If you’re considering a payday loan in New Laguna, here’s how the process typically works:

  • You apply for a loan either in-person at a payday loan store or online.
  • You provide proof of income, such as a pay stub.
  • You write a post-dated check for the loan amount plus fees or authorize an ACH withdrawal from your checking account on the due date.
  • If approved, you receive cash or a deposit into your checking account, and you agree to repay the loan on the due date.

The fees for payday loans in New Laguna can vary, but the state law caps the finance charge at a maximum of $15.50 per $100 borrowed. The loan term cannot exceed 35 days, and the total amount borrowed cannot exceed $2,500.

The Risks of Payday Loans

While payday loans can be a quick solution for unexpected expenses, they also come with risks and downsides. For starters, payday loans typically come with high-interest rates, which can make it difficult to pay off the loan on time. If you’re unable to repay the loan on the due date, you may be forced to renew or roll over the loan, which can result in additional fees and charges.

Another risk of payday loans is that they can lead to a cycle of debt. According to the Consumer Financial Protection Bureau, four out of five payday loans are rolled over or renewed within two weeks, and most borrowers end up paying more in fees than they originally borrowed.

Interesting Facts and Statistics About Payday Loans in New Laguna, New Mexico

  • In 2020, New Mexico had the highest poverty rate in the country at 19.5%.
  • According to the National Conference of State Legislatures, New Mexico has the highest cap on payday loan fees in the country, at 15.5% of the loan amount.
  • In 2019, the New Mexico Regulation and Licensing Department received 99 complaints related to payday loans.

Apply Now

Do you need a payday loan in New Laguna, New Mexico? TheGuaranteedLoans can help. We are a connector service that can connect you with potential payday lenders in your area. Our online application process is fast, easy, and secure, and you can get started today by visiting our website.

It’s important to note that TheGuaranteedLoans is not a direct lender, and we do not make decisions on whether to approve or deny your loan application. We simply connect you with potential lenders, and you’ll need to work with them directly to finalize your loan.

The Bottom Line

Payday loans can be a helpful solution for unexpected expenses, but they come with risks and downsides. If you’re considering a payday loan in New Laguna, New Mexico, it’s important to understand the terms and fees associated with these loans, and to have a plan in place to repay the loan on time.

At TheGuaranteedLoans, we’re committed to providing our readers with accurate and valuable information about payday loans and other lending products. We hope this article has helped you navigate the world of payday loans in New Laguna, New Mexico, and that you’re able to make an informed decision about your financial needs.

F.A.Q.

Are payday loans available to borrowers with bad credit in New Mexico?

Yes, payday loans are available to borrowers with bad credit in New Mexico. Payday lenders typically do not conduct credit checks, so borrowers' credit scores do not affect their ability to obtain a loan.

Can borrowers in New Mexico be charged extra fees for paying off their payday loans early?

No, payday lenders in New Mexico are prohibited from charging borrowers extra fees for paying off their loans early.