Payday Loans In Arizona State
The Grand Canyon State outlawed payday loans in 2010. Too many people taking them too carelessly. The approximate default rate of payday loans is somewhere around 5%, so the government just had had to regulate them. It is hard to resist getting money right here and now when you need it.
Many also don’t realize how bad an APR of 300% to 700% is. So probably it is a good thing that Arizona payday loans are non-existent anymore.
Your Best Alternative
The best thing you could do in Arizona when you need money immediately is get a small loan not secured by a check. It is then not considered a payday loan.
There is an interest rate cap on those too. Naturally, it is set by the state government. It is 36% per year + 5% fee. If you are charged a higher interest rate, do investigate.
Other things you could do to get money fast in AZ:
- Overdrafting your bank account, what will cost you an NSF fee of $25 plus what the bank charges (insufficient funds fee.) You job would then be to not have to pay the fee. Some banks offer overdraft protection, and you could intentionally get it just to not be charged for the overdraft. Usually, overdraft protection covers even ATM withdrawals. If asked what happened, you would just say that you forgot you had less money than you took out.
- A loan from a small local creditor. Payday loans (AZ) are nothing but cash advances that are secured by a check. If there is no check involved, it is not technically a payday loan, and you will surely find a creditor in large cities like Tucson or Phoenix. Just browse the web.
- A payday advance in Arizona can also be gotten from your employer. You explain the situation and get a portion of your next payroll ahead of time. This is a quite widespread practice to get cash advance in Arizona. After all, payday advance loans are outlawed, and there are not too many options to choose from. Employers understand this, and they are supposed to accommodate your need. If your HR manager is being tough on giving you your pay ahead of time, just tell them that considering the payday loan situation in Arizona, they are supposed to accommodate your request.
- Even if you have bad credit, it wouldn’t hurt if you went to your local bank and asked for a small loan. Explain the situation. Say that you didn’t want to get a payday loan in the first place, and that your credit history is of little importance. It’s just a small loan that you want.
Where To Get A Loan Close To AZ?
Considering payday loans in Arizona are prohibited, the closest place to go to get one would be San Diego, CA. There are some smaller towns in California on your way, but you might as well see the city and get a loan from a trusted company. If you go there for a loan, you would also be passing Imperial National Wildlife Refuge, which is worth taking a look at.
Consider your gas expenses, as you wouldn’t be able to get more than $300 in CA.