Payday Loans in Coplay, Pennsylvania

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No payday loan companies in Coplay, PA. Consider companies in other cities:

Company nameAddressZip codePhone number
Wells Fargo Bank 2124 Memorial Hwy, Dallas, PA 18612 +1 (570) 675 - 0213
Community Bank 545 W Main St, Uniontown, PA 15401 +1 (724) 439 - 1000
KeyBank 2520 W 26th St, Erie, PA 16506 +1 (814) 871 - 1186
Citizens Bank 250 Market St, Kittanning, PA 16201 +1 (724) 543 - 1000
Northwest Bank 1195 Manheim Pike, Lancaster, PA 17601 +1 (717) 393 - 0700
Belco Community Credit Union 221 Wilson Ave, Hanover, PA 17331 +1 (717) 232 - 3526
The Farmers National Bank of Emlenton 127 W Spring St, Titusville, PA 16354 +1 (814) 827 - 5910
Huntington Bank 1685 W State St, Baden, PA 15005 +1 (724) 869 - 2181
Citizens Bank Supermarket Branch 111 W Madison St, Rochester, PA 15074 +1 (724) 774 - 6355
Jenny Payne - Raymond James 926 Main St, Rome, PA 18837 +1 (570) 247 - 5505

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Coplay, PA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Pittsburgh, PA, Quick Loan in Reading, PA, Guaranteed Loans in Scranton, PA, Payday Loans in State College, PA, Payday Loans in Upper Darby, PA, Payday Loans in Warminster, PA, Payday Loans in Wilkes-Barre, PA and Payday Loans in York, PA. 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 Coplay, PA.

Beautiful sights of Coplay, PA

Payday Loans Available in Coplay, PA By The Following ZIP Codes:

18037

Are Payday Loans Legal In Coplay, Pennsylvania?

Payday Lending is Prohibited in Pennsylvania

Pennsylvania Loan Regulations

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

Coplay, PA payday loan calculator

Payday Loans in Coplay, Pennsylvania

Payday loans have been a controversial topic of discussion in the financial industry for many years. These short-term loans have been labeled as predatory and high risk, with borrowers often stuck in a cycle of debt. However, it is important to note that not all states allow payday loans, and Pennsylvania is one of them. In fact, payday loans have been prohibited in Pennsylvania since 1998, under the Consumer Discount Company Act.

What are Payday Loans?

Before we dive into the specifics of payday loans in Coplay, Pennsylvania, it is important to understand what they are. Payday loans are typically small, short-term loans that are designed to cover unexpected expenses between paychecks. These loans usually range from $100 to $1,000 and are often due in full on the borrower’s next payday.

While payday loans may seem like a quick solution to a financial problem, they often come with high-interest rates and fees, making them a dangerous debt trap for many borrowers. Additionally, payday lenders often do not perform credit checks, making it easy for individuals with poor credit to qualify for a loan, but also increasing the risk of default and financial hardship.

Payday Loans in Coplay, Pennsylvania – Prohibited

In Pennsylvania, the Consumer Discount Company Act prohibits payday lending companies from operating in the state. This means that anyone looking for a payday loan in Coplay, Pennsylvania, or any other city in the state, will not be able to get one. In fact, efforts have been made to strengthen the state’s laws on consumer protection, with the introduction of the Check Cashing Licensing Act in 2008.

While payday loans are not available in Pennsylvania, there are still options for individuals who need short-term loans to cover unexpected expenses. Credit unions and small banks often offer short-term loans with more favorable interest rates and repayment terms compared to payday loans.

The Risks of Payday Loans

The prohibition of payday loans in Pennsylvania is not without reason. The high interest rates and fees associated with these loans make it difficult for borrowers to repay the loan, leading to a cycle of debt and financial hardship. The average interest rate for a payday loan in the US is around 400%, which means that borrowers often end up repaying much more than they initially borrowed.

Additionally, many payday lending companies do not perform credit checks, meaning that individuals with poor credit are often targeted by these companies. This makes it easy for those already struggling with debt to become trapped in a cycle of debt and financial hardship.

Interesting Facts and Statistics

  • In Pennsylvania, it is illegal for payday lenders to operate in the state.
  • The average interest rate for a payday loan in the US is around 400%.
  • The Consumer Financial Protection Bureau (CFPB) found that four out of five payday loans are rolled over or renewed within 14 days, leading to a cycle of debt for many borrowers.
  • A report by the Pew Charitable Trusts found that the average payday loan borrower pays more in fees than the amount borrowed.

Apply Now

While payday loans are prohibited in Coplay, Pennsylvania, and the state as a whole, TheGuaranteedLoans is a connector service that can help connect you with potential lenders for other types of short-term loans. It is important to note that we are not a direct lender and do not make credit decisions. Instead, we work with a network of potential lenders to help you find a loan that fits your needs and financial situation.

If you are in need of a short-term loan, you can apply now on our website by filling out a simple online application. We will review your information and connect you with potential lenders who may be able to offer you a loan. Remember, it is important to exercise caution and only borrow what you can afford to repay.

Conclusion

Payday loans may seem like a quick solution to a financial problem, but they often come with high-interest rates and fees that can lead to a cycle of debt. Pennsylvania has prohibited payday lending companies from operating in the state since 1998, under the Consumer Discount Company Act. While short-term loans are still available from credit unions and small banks, it is important to exercise caution and only borrow what you can afford to repay.

F.A.Q.

Are payday loans legal in Coplay, Pennsylvania?

No, payday loans are prohibited in Coplay, Pennsylvania.

What are the alternatives to payday loans in Coplay, Pennsylvania?

Some options for short-term financial assistance in Coplay, Pennsylvania include credit union loans, personal loans from banks or online lenders, or borrowing from friends or family.