Payday Loans in Rains, South Carolina

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No payday loan companies in Rains, SC. Consider companies in other cities:

Company nameAddressZip codePhone number
First Citizens Bank 2 Northridge Dr, Hilton Head Island, SC 29926 +1 (843) 681 - 4090
Money Man Pawn 508 S Fraser St, Georgetown, SC 29440 +1 (843) 546 - 4547
Barri Agent 109 W Main St, Ridgeland, SC 29936
The Peoples Bank 801 E Front St, Iva, SC 29655 +1 (864) 348 - 6181
World Finance Corporation 124 N 5th St, Hartsville, SC 29550 +1 (843) 383 - 4538
Community Loans of America 416 E Martintown Rd, North Augusta, SC 29841 +1 (803) 442 - 9908
First Federal-South Carolina 428 SC-174, Edisto Island, SC 29438 +1 (843) 869 - 9734
Check `n Go 1641 Woodruff Rd Unit 6, Greenville, SC 29607 +1 (864) 284 - 9800
NORTH STATE ACCEPTANCE 1904 Savannah Hwy 103, Charleston, SC 29407 +1 (843) 212 - 3083
Auto Money Inc 135 Farmington Rd, Summerville, SC 29483 +1 (843) 832 - 5896

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Rains, SC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Hilton Head Island, SC, Payday Loans in Mount Pleasant, SC, Payday Loans in Myrtle Beach, SC, Bad Credit Loans in North Charleston, SC, Payday Loans in Rock Hill, SC, Payday Loans in Spartanburg, SC, Payday Loans in Summerville, SC and Short-term Loans in Sumter, SC. 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 Rains, SC.

Beautiful sights of Rains, SC

Are Payday Loans Legal In Rains, South Carolina?

Loan Rates and Fees, Laws and Regulations in South Carolina.

South Carolina Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)391
Maximum Loan Amount$550
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges15% of the amount advanced

Rains, SC payday loan calculator

Payday Loans in Rains, South Carolina: Everything You Need to Know

Payday loans can be a helpful resource for those facing a financial emergency. As a quick and easily accessible way to get cash, payday loans can be a lifesaver. However, before signing up for a payday loan in Rains, South Carolina, it is essential to know the ins and outs of how payday loans work, what the regulations are in South Carolina, and the pros and cons of payday loans. This guide will help you understand all you need to know about payday loans in Rains, South Carolina.

What are Payday Loans?

Payday loans are a type of short-term loan designed to provide borrowers with quick access to cash for unexpected expenses or emergencies. Payday loans are typically for small amounts of money and are repaid in a lump sum on the borrower’s next payday. It is essential to note that payday loans often come with high-interest rates and fees, making it crucial to understand the terms of any payday loan agreement fully.

How do Payday Loans Work in South Carolina?

Payday loans are legal in South Carolina, and there are regulations in place to protect borrowers. The South Carolina Deferred Presentment Services Act governs payday lenders in the state, and lenders must be licensed to provide payday loans legally. According to the Act, the maximum amount of a payday loan in South Carolina is $550. The term of the loan may not exceed 31 days, and lenders are allowed to charge a maximum of 15% interest per $100 borrowed.

Borrowers must provide lenders with a post-dated check or authorize an electronic debit for the amount borrowed, plus fees and interest. If the borrower cannot repay the loan on the due date, the lender can deposit the check or initiate the electronic debit. Borrowers must be at least 18 years old and have a regular source of income to be eligible for a payday loan in South Carolina.

The Pros and Cons of Payday Loans in Rains, South Carolina

Like any financial product, payday loans have their advantages and disadvantages. Knowing the pros and cons of payday loans can help you make an informed decision about whether a payday loan is the right choice for your financial situation.

The Pros:

  • Quick and easy access to cash when faced with unexpected expenses or emergencies
  • No credit check required, making them accessible to those with poor credit scores or no credit history
  • Regulations in place to protect borrowers in South Carolina

The Cons:

  • High-interest rates and fees can make payday loans more expensive than other types of loans
  • Short repayment terms can lead to difficulty repaying the loan on time, resulting in additional fees and interest
  • Risk of falling into a debt cycle and continually borrowing to make ends meet

Interesting Facts and Statistics about Payday Loans in Rains, South Carolina

  • The average payday loan amount in South Carolina is $350.
  • Average interest rates on payday loans in South Carolina can be as high as 391% APR.
  • In South Carolina, the average payday lending customer takes out an average of eight loans per year.

Apply Now with TheGuaranteedLoans

If you find yourself in need of a payday loan in Rains, South Carolina, TheGuaranteedLoans can help connect you with a potential lender. As a connector service, we do not lend money directly but instead facilitate the connection between borrowers and lenders. Our online application process is quick and easy, and we work with a network of trusted lenders to help you find the loan you need.

To apply for a payday loan in Rains, South Carolina, fill out our online application today. Remember to read the terms and conditions of any loan agreement fully and ensure that you can repay the loan on time. A payday loan can be a helpful short-term solution, but it is essential to weigh the pros and cons before making any financial decision.

F.A.Q.

What should I do if I can't afford to repay my payday loan in Rains, South Carolina?

If you are unable to repay your payday loan in Rains, South Carolina, it is important to contact your lender immediately to discuss your options. This may include entering into a payment plan or seeking financial counseling.

What should I do if I think my payday lender is engaging in predatory or illegal practices?

If you believe your payday lender is engaging in predatory or illegal practices, you should report them to the South Carolina Department of Consumer Affairs. You can also seek legal advice from an attorney.