Are online cash advance companies(namely American Web Loan) legal in North Carolina?
Answer
As long as they follow the NC rules on interest, yes. They typically don't and charge interest of 200% or more. In those cases the interest in unenforceable. This doesn't mean they can't make a loan. It means they can't enforce it in Court, so they won't sue you....But do not go and take out a loan you know you won't pay back, that could be a criminal act.
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