Payday Loans in Husum, Washington

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No payday loan companies in Husum, WA. Consider companies in other cities:

Company nameAddressZip codePhone number
Navy Federal Credit Union 555 Pacific Ave Suite 110, Bremerton, WA 98337 +1 (888) 842 - 6328
Payday Advance 10309 SE Mill Plain Blvd, Vancouver, WA 98664 +1 (360) 885 - 0100
Western Union Moneytree, 9815 State Ave Ste A, Marysville, WA 98270 +1 (360) 658 - 6669
WSECU 1400 Lakeside Ct Ste 101, Yakima, WA 98902 +1 (800) 562 - 0999
Timberland Bank 361 Damon Rd, Ocean Shores, WA 98569 +1 (360) 289 - 2476
Washington Federal Bank 105 W 1st Ave, Odessa, WA 99159 +1 (509) 982 - 2624
WECU Lynden 2045 Front St, Lynden, WA 98264 +1 (360) 676 - 1168
KeyBank 711 Haggen Dr, Burlington, WA 98233 +1 (360) 755 - 9045
Asset Based Lending Services 600 University St 1616, Seattle, WA 98101 +1 (206) 332 - 1791
Timberland Bank 714 W Main St, Chehalis, WA 98532 +1 (360) 740 - 0770

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Husum, WA, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Vancouver, WA, Payday Loans in Walla Walla, WA, Emergency Loan in Wenatchee, WA, Online Loans in Yakima, WA, Payday Loans in Auburn, WA, Payday Loans in Bellevue, WA, Payday Loans in Bellingham, WA and Payday Loans in Bothell, WA. 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 Husum, WA.

Beautiful sights of Husum, WA

Are Payday Loans Legal In Husum, Washington?

Loan Rates and Fees, Laws and Regulations in Washington.

Washington Loan Regulations

Legal StatusLegal (Lender must have a small loan endorsement to their check casher license in order to make payday loans)
Interest Rate (APR, %)391
Maximum Loan Amount$700 (*or 30% of gross monthly income)
Minimum Loan TermNot Specified
Maximum Loan Term45 days
Number of Rollovers Allowed0
Finance Charges<$500 = 15%; >$500 = 10%

Husum, WA payday loan calculator

Payday Loans in Husum, Washington: A Comprehensive Guide

If you are facing a financial emergency in Husum, Washington, and need quick cash to make ends meet, you may be considering a payday loan. While payday loans are a legal option in Washington State, it’s essential to understand the terms, risks, and available alternatives before you apply.

In this guide, we’ll provide a comprehensive overview of payday loans in Husum, including the laws and regulations that govern them, how they work, and the benefits and drawbacks of this loan option. So, let’s get started!

The Legal Landscape: Payday Loans in Husum, Washington

Payday loans, also known as cash advances, are a short-term loan option that allows borrowers to borrow a small amount of cash to cover unexpected expenses until their next payday. In Husum, Washington, payday loans are legal, as long as the lender has a small loan endorsement issued by the Washington State Department of Financial Institutions.

According to the Washington State Department of Financial Institutions, payday lenders in Washington State must follow specific regulations, including:

  • Charging no more than 15% of the loan amount as a finance charge.
  • Limiting the loan amount to no more than $700 or 30% of the borrower’s gross monthly income, whichever is less.
  • Requiring lenders to disclose all the terms and conditions of the loan, including the finance charge, APR, and repayment schedule.
  • Limiting borrowers to one loan at a time and no more than eight loans per year.
  • Providing borrowers with a repayment plan that allows them to pay off the loan in installments if the borrower takes out four loans in a 12-month period.

The Payday Loan Process in Husum, Washington

The payday loan process in Husum, Washington, is straightforward. To apply, you’ll need to provide the lender with your:

  • Name and contact information.
  • Income and employment information.
  • Banking information.

The lender will then review your application and provide you with a loan decision. If approved, you’ll receive the loan amount in cash or directly deposited into your checking account.

However, it’s essential to understand that payday loans come with high-interest rates and fees that can add up quickly. For instance, on a $100 loan, a lender can only charge up to $15 as a finance charge, but the APR can be over 400%.

The Pros and Cons of Payday Loans in Husum, Washington

Like any financial product, payday loans have their pros and cons. Here are some of the benefits and drawbacks of payday loans in Husum, Washington:

Pros

  • Quick access to cash: Payday loans provide fast cash when you need it most, with many lenders offering same-day funding.
  • No credit checks: Payday lenders typically do not check the borrower’s credit score, making it an option for people with bad credit or no credit history.
  • Easy application process: Applying for a payday loan is simple and straightforward, with most lenders offering online applications.

Cons

  • High-interest rates and fees: Payday loans come with high finance charges and APRs that can trap borrowers in a cycle of debt.
  • Short repayment terms: Payday loans require borrowers to pay back the loan plus and finance charges in one lump sum on their next payday, making it difficult for some borrowers to repay the loan on time.
  • Potential for debt cycle: Since payday loans are a short-term loan option, some borrowers may find themselves borrowing more money to pay off their previous loan, leading to a cycle of debt.

Alternatives to Payday Loans in Husum, Washington

If you’re considering a payday loan in Husum, Washington, but are hesitant about the high-interest rates and fees, there are alternative loan options you can explore. Here are some alternatives you may want to consider:

Personal loans: A personal loan is an unsecured loan option that allows borrowers to borrow a larger amount of money at a lower interest rate than payday loans.

Credit unions: Credit unions are member-owned financial institutions that offer loans at lower interest rates than banks and payday lenders.

Credit counseling: Credit counseling agencies provide free or low-cost financial education and counseling to help borrowers manage their money and avoid debt problems.

Interesting Facts and Statistics about Payday Loans in Husum, Washington

  • The average payday loan amount in Washington State is $377.78, with an average fee of $58.84.
  • According to the Washington State Department of Financial Institutions, payday lenders in Washington State made over 1.8 million loans, totaling nearly $553 million in 2019.
  • A survey conducted by the Pew Charitable Trusts found that 69% of payday borrowers in Washington State used payday loans to cover recurring expenses, such as rent and utilities.

Apply Now and Connect with Potential Lenders

If you’re considering a payday loan in Husum, Washington, it’s essential to understand your options and make an informed decision. At TheGuaranteedLoans, we’re here to help you connect with potential lenders who can provide you with the cash you need. Our simple online application process makes it easy to apply, and our network of lenders ensures you’ll find a loan that meets your needs.

Remember, as a connector service, we’re not a direct lender, and we don’t provide loans ourselves. Instead, we facilitate your connection with potential lenders who can provide you with the cash you need. So, apply now, and take the first step towards financial peace of mind.

F.A.Q.

Can I get a payday loan online in Husum, Washington?

Yes, payday loans are available online in Husum, Washington. However, the lender must be licensed to operate in the state and must comply with all state laws and regulations.

What happens if I can't repay my payday loan in Husum, Washington?

If you are unable to repay your payday loan in Husum, Washington, the lender may take legal action to collect on the debt. This could include garnishing your wages or seizing your assets.