Payday Loans in Little Compton, Rhode Island

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No payday loan companies in Little Compton, RI. Consider companies in other cities:

Company nameAddressZip codePhone number
Citizens Bank 51 Main St, Wakefield, RI 02879 +1 (401) 789 - 1033
PFG Lending 2733 Post Rd, Warwick, RI 02886 +1 (401) 384 - 6970
loanDepot - East Providence, RI 855 Waterman Ave, East Providence, RI 02914 +1 (401) 230 - 1504
BankNewport 90 Point Judith Rd, Narragansett, RI 02882 +1 (401) 782 - 1089
Advance America 190-A Newport Ave., East Providence, RI 02916 +1 (401) 438 - 4217
Bank of America with Drive-thru ATM 257 County Rd, Barrington, RI 02806 +1 (401) 245 - 2401
BankNewport 10 Washington Square, Newport, RI 02840 +1 (401) 849 - 1244
Walmart Money Center 7 Eddie Dowling Hwy, North Smithfield, RI 02896 +1 (401) 766 - 1961
Malcolm Makin - Raymond James 9 Granite St, Westerly, RI 02891 +1 (401) 596 - 2800
BankNewport 31 Conanicus Ave, Jamestown, RI 02835 +1 (401) 423 - 1565

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Little Compton, RI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Woonsocket, RI, Payday Loans in Coventry, RI, Payday Loans in Cranston, RI, Online Loans in Cumberland, RI, Emergency Loan in East Providence, RI, Emergency Loan in North Providence, RI, Emergency Loan in Pawtucket, RI and Payday Loans in Providence, RI. 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 Little Compton, RI.

Beautiful sights of Little Compton, RI

Payday Loans Available in Little Compton, RI By The Following ZIP Codes:

02837

Are Payday Loans Legal In Little Compton, Rhode Island?

Loan Rates and Fees, Laws and Regulations in Rhode Island.

Rhode Island Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)261
Maximum Loan Amount$500
Minimum Loan Term13 days
Maximum Loan TermNot Specified
Number of Rollovers Allowed1
Finance Charges10% of the amount advanced

Little Compton, RI payday loan calculator

Are you in need of quick cash to cover an unexpected expense in Little Compton, Rhode Island? Payday loans may be a viable option. Payday loans are short-term loans that are typically due on your next payday. These loans can be obtained quickly and without a credit check, making them an attractive option for those with poor credit or no credit history.

Payday Loans in Little Compton, Rhode Island

Despite the controversy surrounding payday loans, they are legal in Rhode Island. However, there are regulations in place to protect consumers from predatory lending practices. In Little Compton, payday lenders must be licensed with the state, and loans cannot exceed $500. The maximum finance charge is 10% of the loan amount, and the maximum annual percentage rate (APR) is 260%. Repayment terms cannot exceed 31 days, and borrowers may not have more than one outstanding loan at a time.

How Payday Loans Work

Payday loans are designed to provide quick cash in emergency situations. To apply for a payday loan, you will need to provide proof of income, a valid ID, and a checking account. The lender will then determine the loan amount and repayment terms. If approved, the loan amount will be deposited directly into your checking account, and you will be required to repay the loan plus finance charges on your next payday.

It is important to note that payday loans should be used as a last resort. The high finance charges and short repayment terms can make it difficult to pay back the loan on time, potentially leading to a cycle of debt. It is important to carefully consider whether a payday loan is the best option for your financial situation.

Pros and Cons of Payday Loans

Like any financial product, payday loans have both advantages and disadvantages. Some pros of payday loans include:

  • Quick access to cash
  • No credit check required
  • Easier qualification requirements
  • Flexible repayment terms

However, there are also some cons to consider, including:

  • High finance charges and interest rates
  • Short repayment terms
  • Potential for debt cycle
  • Can lead to financial instability

Interesting Facts and Statistics

Did you know that the average payday loan borrower takes out 8 loans per year? Or that the average loan amount is $375? According to the Consumer Financial Protection Bureau, approximately 12 million Americans use payday loans each year. In Little Compton, there are several licensed payday lenders available to provide quick access to cash when it’s needed most.

Apply Now

If you’re in need of quick cash in Little Compton, Rhode Island, and are considering a payday loan, TheGuaranteedLoans can help. Our online application process is fast and easy, connecting you with potential lenders in just minutes. Remember, we are a connector service, not a direct lender. We work with a network of trusted lenders to provide you with the best possible loan options. Apply now and get the cash you need to cover unexpected expenses.

Important note: Before applying for a payday loan, make sure to carefully review the terms and conditions and understand the repayment terms. If you have any questions or concerns, do not hesitate to contact the lender for clarification.

F.A.Q.

Can a payday lender garnish my wages in Little Compton, Rhode Island if I default on my loan?

Yes, a payday lender can garnish wages for defaulted loans in Little Compton, Rhode Island, but only after obtaining a court order.

Can I be arrested for failing to pay back a payday loan in Little Compton, Rhode Island?

No, borrowers cannot be arrested for failing to pay back a payday loan in Little Compton, Rhode Island. However, they may face legal action and collection efforts.