Payday Loans in South Carolina

By: George Paunov

Payday Loans in South Carolina | PaydayNow

South Carolina Cash Advance State Statutes

If you live in South Carolina you can take out cash advances in the amount of as much as $550. The credit cannot exceed the duration of 31 days. This protects you from interest going beyond control.

 Another important rule will be that you’ll not be permitted to be charged fees that are more than 15 percent of the total amount of the loan. In other words, if you borrowed $500, you’d only be charged a maximum of $75.

 It is important to understand that both the loan and the fee will earn interest over the entire term of the loan. Remember, you have to pay back the loan in the period of 31 days. It is not possible to roll over your loan for South Carolina.

Although the majority of South Carolina’s payday loans regulations are on the strict side, there’s a loose rule that you should take note of. There is no limit on the number of loans you can hold at a time. Certain states restrict that number. 

However, not South Carolina. If you take multiple cash advances at one time is a risk and many people have difficulty repaying both or even multiple loans. We recommend you do your best to repay your cash advance first before you apply for another.

The most popular Cash Advance lenders City

There are a variety of ways to obtain cash advance loans within South Carolina. If you reside in a town with an abundance of people, you’ll probably have many lenders to pick from. We utilized Yelp to locate a handful of lenders in the biggest cities in South Carolina. 

As the lenders’ database is constantly changing, we cannot make representations that we currently have a relationship with or had any relationship with any of the listed lenders. This list of lenders is intended for informational purposes only.

  • Columbia Columbia ACE Cash Express (also offers the option of insurance and cashing checks), Uptown Cash (also offers cashing checks), Carolina Loans
  • Charleston – The Fastest Cash Advance Loans in Charleston (also offers cash on checks), Cash America Pawn (also the Pawn Shop) Cash N Advance, Approved Advance, Cash Advance, Cash N Advance
  • Myrtle Beach – Express Check Advance (also offers cash-on-checks), Coastal Cash Advance (also offers cashing checks), Advance America (also provides tax services as well as cashing in checks), National Cash Advance, Quik Cash Advance, First American Cash Advance
  • Rock Hill – Anyday Loans, LLC (also offers cashing checks), Check America Advances (also offers check cashing), Cash On the Spot Loans, Advance America Cash Advance, National Cash Advance
  • Greenville – 1st Choice Cash Advance, Fast Cash Check Advance, Mr Money Cash Advance, On-Time Cash Advance, First Cash Advance

These are only a few of the lenders that operate within South Carolina. If you find this list to be a bit daunting, don’t worry – we’ll save you time and help reduce it to one lender. All you need to complete is fill in our straightforward form, the listed, and we’ll match you with a reliable lender in just a few minutes. 

They’ll then guide you through the process of applying for a loan and provide you with the actual loan contract.

South Carolina Payday Loans Regulations

The same law that was created to cover cash advances applies to payday loans too in South Carolina. Both are considered as being the same according to the law.

  • What is the process? Payday loans work – A customer takes cash from the lender and returns it in one lump sum on an agreed-upon due date. Many lenders automatically cancel the loan and the fees at the date specified in the loan contract.
  • Maximum Amount: Lenders are not able to provide more than $550.
  • Repayment Extensions The lender isn’t allowed to allow you to transfer your loan.

South Carolina State Economy

South Carolina cash advance borrowers might be interested in more information about the state’s economy. As per the Bureau of Labor Statistics, the unemployment rate in South Carolina is at 6.7-percent. This is quite a bit more than the previous record low, which was 3.5-percent in 1998. In case you’re interested, the record highest was 11.8-percent in 1983.

Some of the most significant agricultural products of South Carolina include poultry, tobacco, dairy, cattle, soybeans, swine, rice, and hay. 

When it comes to agricultural goods, South Carolina is most well-known for its textiles, paper, chemicals machines, automobiles, and automobile products. Tourism is another significant economic boost to South Carolina.

South Carolina or The Palmetto State is a beautiful area to settle in, find a job, and even start a family. However, financial problems are also possible. Don’t be overly concerned but be prepared. If you need a cash advance, This information will allow you to understand what to expect when you get advance cash from South Carolina.

The Title Loan Request in South Carolina

In South Carolina, the poverty level South Carolina is 16.6%, and one in six residents live in poverty. Additionally, around 790,657 out of the state’s population of 4,751,345 have income levels below the poverty level within the past few years.

The high level of poverty can result in families not meeting their financial obligations or meeting unexpected financial needs. Title loans are a different type of short-term loans, with a small amount, which can assist those in financial difficulty or struggling households in lower monthly expenses.

Title Loans Laws in South Carolina

The lending of auto titles is legal to be done in South Carolina, but only by state credit laws, which only permit loan amounts of more than $2,500 to stay clear of the tiny loan limit in the state. Residents can consult the lending statutes in the state to find out more information about loaning on auto titles within South Carolina.

Consumers can apply for a title loan, a retailer, or online. There is a single title lender for every ten thousand to twenty thousand adults within South Carolina. The applicants may be required to show an original registration for the vehicle that is being borrowed.

Alternate Financing Solutions

People who are looking for alternatives of title loans in South Carolina can consider the following options:

  • Paycheck Advance: People struggling to make enough money each month could request an advance of the next paycheck through their workplace or their place of employment. This may help in reducing charges that could be due before the regular payday date.
  • Installment Loans These are personal loans that may be more affordable than short-term financing. They can pay off their loans in smaller amounts and over longer durations of time.
  • Friends and family members: Consumers may look into borrowing money from family members and friends. People who choose this option should know that there might not be an official financial institution to regulate the transactions.

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