Payday Loans in Dunstable, Massachusetts

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

Company nameAddressZip codePhone number
Fairway Independent Mortgage Corporation 130 Grand Army of the Republic Hwy, Swansea, MA 02777 +1 (774) 526 - 1734
Savers Bank 96 Worcester St, North Grafton, MA 01536 +1 (508) 839 - 6901
TD Bank 476 Main St, Melrose, MA 02176 +1 (781) 662 - 2007
Citizens Bank Supermarket Branch 40 Franklin Village Drive, Franklin, MA 02038 +1 (508) 553 - 0446
American Mortgage Resource, Inc. NMLS MB22431 2 Winter St STE 202, Waltham, MA 02451 +1 (617) 972 - 8588
TD Bank 969 Riverdale St, West Springfield, MA 01089 +1 (413) 733 - 5450
La Esquina Cache Tailoring&WesternUnion 275 Broadway, Lawrence, MA 01841 +1 (978) 655 - 4639
Citizens Bank Supermarket Branch 565 Main St, Walpole, MA 02081 +1 (508) 668 - 1170
Rockland Trust 147 Center St, Pembroke, MA 02359 +1 (781) 293 - 9561
United Bank 670 Bliss Rd, Longmeadow, MA 01106 +1 (413) 726 - 2456

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dunstable, MA, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Taunton, MA, Same Day Loans in Tewksbury, MA, Bad Credit Loans in Waltham, MA, Payday Loans in Westfield, MA, Same Day Loans in Woburn, MA, Short-term Loans in Worcester, MA, Payday Loans in Andover, MA and Payday Loans in Arlington, 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 Dunstable, MA.

Beautiful sights of Dunstable, MA

Payday Loans Available in Dunstable, MA By The Following ZIP Codes:

01827

Are Payday Loans Legal In Dunstable, 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

Dunstable, MA payday loan calculator

Understanding Payday Loans in Dunstable, Massachusetts

Payday loans can provide a quick solution to emergency financial needs, but they are not legal in Massachusetts. In Dunstable, Massachusetts, it is important to be aware of the law and alternatives that are available to residents.

What are Payday Loans?

Payday loans are short-term loans that typically have very high-interest rates and fees. They are marketed as a way to help people who need fast cash between paychecks, but they can lead to a cycle of debt for borrowers who cannot repay them in a timely manner.

Why are Payday Loans Prohibited in Massachusetts?

The state of Massachusetts has implemented strict regulations on payday loans to protect consumers from predatory lenders. Payday loans with interest rates over 23% are prohibited in the state. Additionally, lenders are required to be licensed and registered with the state, and they must follow specific guidelines regarding the amount of the loan, fees, and repayment terms. Payday loans can lead to a cycle of debt for borrowers who cannot repay them in a timely manner.

Alternatives to Payday Loans in Dunstable, Massachusetts

For residents of Dunstable, Massachusetts, who need emergency cash, there are a variety of alternatives to payday loans. Some options include:

  • Personal loans from credit unions or online lenders
  • Credit counseling services
  • Assistance from local charities or non-profits
  • Help from family or friends

The Risks of Payday Loans

While payday loans may seem like a quick solution to emergency financial needs, they can lead to a cycle of debt. High-interest rates and fees can make it difficult to repay the loan on time, resulting in additional fees and interest charges. Borrowers may end up rolling over the loan, which can lead to higher fees and more debt. In some cases, borrowers may even end up in debt for months or years before they can fully repay the loan.

Interesting Facts and Statistics

Payday loans are prohibited in Massachusetts, but they are still a prevalent problem in other states. According to a report by the Consumer Financial Protection Bureau (CFPB), the average payday loan borrower takes out 10 loans per year and spends 199 days in debt. The same report found that the average payday loan interest rate was 391%. Furthermore, 75% of all payday loan fees are generated by borrowers who take out more than 10 loans per year.

Apply Now with TheGuaranteedLoans

While payday loans are not legal in Massachusetts, it is important to be aware of alternatives that are available. At TheGuaranteedLoans, we offer a secure and easy-to-use online application process to connect borrowers with potential lenders. Our service is a connector service and not a direct lender, but we can facilitate your connection with potential lenders. Apply now to see if you qualify for a personal loan or other financial assistance.

Conclusion

Payday loans can be a dangerous financial product, leading to a cycle of debt for borrowers who cannot repay them in a timely manner. In Dunstable, Massachusetts, it is important to be aware of the law and to explore alternatives to payday loans. At TheGuaranteedLoans, we aim to provide valuable information and assistance to those who need it most. Apply now to get started and find the financial assistance you need.

F.A.Q.

Can I be arrested for taking out a payday loan in Dunstable, Massachusetts?

It is unlikely that a borrower would be arrested for taking out a payday loan in Dunstable, Massachusetts, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in Dunstable, Massachusetts?

Yes, there are several resources available to help consumers avoid predatory lending in Dunstable, Massachusetts, including the state's Consumer Financial Protection Bureau, the Massachusetts State Banking Department, and the Massachusetts City Department of Consumer Affairs.