Payday Loans in Brookline Village, Massachusetts

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No payday loan companies in Brookline Village, MA. Consider companies in other cities:

Company nameAddressZip codePhone number
St Mary's Credit Union Adminstrative Headquarters and Loan Office 46 Lizotte Dr, Marlborough, MA 01752 +1 (508) 490 - 8000
Stifel 167 Dwight Rd 301, Longmeadow, MA 01106 +1 (413) 565 - 8100
BCP Bank 215 Pleasant St 1, Fall River, MA 02721 +1 (508) 673 - 0301
SRP Cash for Gold 19 Vinal Square, North Chelmsford, MA 01863 +1 (978) 251 - 9994
LifeBridge Servicing U.S. 1, 999 Broadway, Saugus, MA 01906 +1 (866) 218 - 0272
Foxboro Federal Savings 129 South St, Plainville, MA 02762 +1 (508) 643 - 0900
Salem Five Bank 303 Haverhill St, Rowley, MA 01969 +1 (978) 948 - 8602
Mortgage Master: Gary O'Connell 102 Elm St, Walpole, MA 02081 +1 (508) 850 - 4264
St. Anne's Credit Union 3087 Acushnet Ave, New Bedford, MA 02745 +1 (877) 782 - 6637
MountainOne Bank 111 Silver Lake Blvd, Pittsfield, MA 01201 +1 (855) 444 - 6861

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Brookline Village, MA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Leominster, MA, 24-Hour Loan in Lexington, MA, Quick Loan in Lowell, MA, Payday Loans in Lynn, MA, Payday Loans in Malden, MA, Payday Loan Companies in Marlborough, MA, Emergency Loan in Medford, MA and Payday Loan for Natick, MA. 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 Brookline Village, MA.

Beautiful sights of Brookline Village, MA

Are Payday Loans Legal In Brookline Village, Massachusetts?

Payday Lending is Prohibited in Massachusetts

Massachusetts Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Brookline Village, MA payday loan calculator

Exploring Payday Loans in Brookline Village, Massachusetts

Payday loans have been a popular way for many Americans to access quick cash in times of need. These short-term loans enable borrowers to cover immediate expenses before their next paycheck arrives. However, payday loans have a controversial reputation, with critics claiming they can trap borrowers in a cycle of debt. While payday loans are prohibited in Massachusetts, let’s explore how they operate and what alternatives are available.

Understanding Payday Loans

Payday loans are typically small-dollar loans that are due on the borrower’s next payday or within a few weeks. The loans are secured by the borrower’s future income, and lenders offer them to those with poor credit histories or low incomes. Typically, payday lenders do not conduct traditional credit checks, instead relying on the borrower’s ability to repay the loan based on their current income levels.

Interest rates on payday loans are significantly higher than traditional bank loans and credit products. In fact, the average interest rate charged on payday loans in the US is 400% APR. This high interest rate, combined with the short repayment period, can lead to a cycle of debt where borrowers need to take out new loans to pay off the old ones.

Payday Loans in Brookline Village, Massachusetts

While payday loans are popular in many states throughout the United States, they are illegal in Massachusetts. However, there are still lenders that advertise payday loans in the state. Residents of Brookline Village should be cautious of these lenders, as they operate outside the law and may charge exorbitant interest rates that can lead to overwhelming debt.

It’s important to note that there are alternatives available to those in need of quick cash. Some options include personal loans, credit cards, and lines of credit. While these products may have more stringent eligibility requirements, they are often much cheaper than payday loans and offer more favorable terms.

Interesting Facts and Statistics

– The average payday loan amount borrowed in Massachusetts was $377.
– In 2016, a total of 685,000 payday loans were taken out in Massachusetts.
– The average APR for payday loans in the US is 400%
– As of 2021, payday loans are prohibited in 12 states, including Massachusetts.

Apply Now

If you’re a resident of Brookline Village, Massachusetts, and are in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we do not make credit decisions. Our online application process is quick and easy, and borrowers can receive funding in as little as 24 hours.

To get started, simply visit our website, fill out our online application form, and receive offers from our network of lenders. Remember to read the terms and conditions carefully and ensure that the interest rates and repayment terms are favorable before accepting any loan offers.

Conclusion

Payday loans can provide easy access to quick cash, but they often come with high interest rates and unfavorable repayment terms. Residents of Brookline Village, Massachusetts, should be cautious of payday lenders that openly operate in the state, as they are operating outside the law.

Understanding the alternatives available, such as personal loans, credit cards, and lines of credit, can help ensure that borrowers make informed decisions when taking out a loan. TheGuaranteedLoans can help connect residents of Brookline Village with potential lenders that offer favorable terms and conditions and responsible lending practices.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Brookline Village, Massachusetts?

It is illegal for lenders to offer payday loans in Brookline Village, Massachusetts, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Brookline Village, Massachusetts?

If you have already taken out a payday loan in Brookline Village, Massachusetts, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.