Alabama

South Carolina

Payday Loans in South Carolina

At a Glance
South Carolina
  • Nickname: The Palmetto State
  • Population: 5.08 million
  • Capital: Columbia
  • Website: www.sc.gov

There’s a lot of history in South Carolina—the first battle of the Civil War took place at Fort Sumter. However, the deep history of South Carolina doesn’t necessarily translate into good living conditions for the state’s residents. Approximately 15.4% of those living in South Carolina had 2018 earnings below the poverty threshold—which was, unfortunately, higher than the national average of 11.8% for that year.

Pile on top of that is South Carolina’s total Student loan debt of $24.4 billion, which equates to about $36,456 per borrower (as of June, 2019). In addition, 28% of the state’s residents have at least some medical debt in collections (at an average of $733 per borrower).

Average Credit Card Debt and Median Household Income in South Carolina vs. the U.S.
South Carolina
US
$5,938
$6,028
Average Credit Card Debt (Q1 2019)
$52,306
$61,937
Median Household Income (2018)

Payday Loans in South Carolina

According to the Center for Responsible Lending, most payday loans are taken out to help people with their recurring, everyday expenses. They are usually lent out to people who have poor or no credit and have had trouble finding other resources to help them make ends meet.

 

Payday Loan Statistics for Borrowers in South Carolina vs. Nationally
South Carolina
US
$391
$392
Average Loan Amount

Consumer Protection in South Carolina

The South Carolina State Board of Financial Institutions

  • Address: 3rd Floor, Edgar Brown Building 1205 Pendleton St. Columbia, SC 29201
  • Phone Number: (803) 734-2020
  • Website: http://www.bofi.sc.gov/

 

Guides to Payday Loans in South Carolina Cities

Check out these South Carolina payday loan guides for the following cities in South Carolina…

Charleston | Columbia | North Charleston | Rock Hill