Payday Loans in Salter Path, North Carolina

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No payday loan companies in Salter Path, NC. Consider companies in other cities:

Company nameAddressZip codePhone number
BB&T 108 Claire Dr, Edenton, NC 27932 +1 (252) 482 - 8415
SouthState Bank 14572 US Hwy 17, Hampstead, NC 28443 +1 (910) 270 - 8711
Wells Fargo Home Mortgage 2373 Hendersonville Rd, Arden, NC 28704 +1 (828) 687 - 9086
Walmart Money Center 110 River Oaks Dr, Tarboro, NC 27886 +1 (252) 824 - 8170
Select Bank & Trust 818 McKinney Pkwy, Lillington, NC 27546 +1 (910) 814 - 4203
Patients Healthcare Card 1063 Snowdon Ct, Asheboro, NC 27203 +1 (336) 672 - 3792
BB&T 179 E Main St, Forest City, NC 28043 +1 (828) 248 - 4150
First Citizens Bank 176 Weaver Blvd, Weaverville, NC 28787 +1 (828) 645 - 3264
PNC Bank 3619 Rogers Rd, Wake Forest, NC 27587 +1 (919) 453 - 6310
Lendmark Financial Services 6210 Plantation Center Dr #107, Raleigh, NC 27616 +1 (919) 875 - 4450

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Salter Path, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Matthews, NC, 24-Hour Loan in Monroe, NC, Payday Loans in Mooresville, NC, Online Loans in Raleigh, NC, Payday Loans in Rocky Mount, NC, Payday Loans in Salisbury, NC, Payday Loans in Wake Forest, NC and Guaranteed Loans in Wilmington, NC. 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 Salter Path, NC.

Beautiful sights of Salter Path, NC

Are Payday Loans Legal In Salter Path, North Carolina?

Payday Lending is Prohibited in North Carolina

North Carolina Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Salter Path, NC payday loan calculator

The Truth About Payday Loans in Salter Path, North Carolina

In Salter Path, North Carolina, payday loans are not legal. In fact, these types of loans are prohibited throughout the state. While some may argue that payday loans can be a quick source of cash in an emergency, the reality is that they often lead to a cycle of debt and financial instability.

Why are Payday Loans in Salter Path, North Carolina Prohibited?

The North Carolina General Assembly passed the Payday Lending Act in 2001, making it illegal for businesses to provide payday loans in the state. This legislation was enacted due to the predatory nature of these loans, which often target those in vulnerable financial situations. Payday lenders are known for charging exorbitant interest rates and fees, sometimes as high as 400%, which only serves to exacerbate the borrower’s financial hardship.

Alternatives to Payday Loans in Salter Path, North Carolina

While payday loans are not an option in Salter Path or throughout North Carolina, there are alternatives available to those in need of emergency cash. These include:

  • Personal loans from banks or credit unions
  • Credit card cash advances
  • Borrowing from friends or family

It’s important to note that these alternatives may not be feasible for everyone, and they come with their own set of risks and considerations. Before taking out any type of loan, it’s crucial to understand the terms and repayment requirements, as well as the potential impact on your credit score and overall financial health.

Interesting Facts and Statistics

  • In 2019, the average payday loan in North Carolina was $250 with an APR of 344%.
  • Over 80% of payday loans in North Carolina are taken out by borrowers who end up renewing or reborrowing, often resulting in a cycle of debt.
  • Payday lending drains over $3.4 billion in fees from low-income communities across the United States each year.

These facts and statistics highlight the concerning nature of payday lending and the detrimental impact it can have on individuals and communities.

Apply Now

If you’re in need of emergency cash in Salter Path, North Carolina, it’s important to explore all of your options before considering a payday loan. TheGuaranteedLoans can help connect you with potential lenders who offer personal loans with competitive rates and flexible repayment options. Fill out our online application today and let us help you find the right loan for your financial needs.

Please note that TheGuaranteedLoans is a connective service, not a direct lender. We do not make credit decisions or charge any fees for our services. Our goal is to help consumers find the right loan to fit their unique financial situation.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Salter Path, North Carolina?

No, because payday loans are illegal in Salter Path, North Carolina, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Salter Path, North Carolina?

Yes, the state of North Carolina has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.