Payday Loans in White Horse Beach, Massachusetts

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No payday loan companies in White Horse Beach, MA. Consider companies in other cities:

Company nameAddressZip codePhone number
Milford Federal Savings & Loan 246 Main St, Milford, MA 01757 +1 (508) 634 - 2500
Jackson Hewitt Tax Service 152 South St, Pittsfield, MA 01201 +1 (413) 499 - 5244
Bank of America with Drive-thru ATM 1115 Grand Army of the Republic Hwy, Somerset, MA 02726 +1 (508) 676 - 0161
Eastern Bank 405 Paradise Rd, Swampscott, MA 01907 +1 (781) 599 - 8100
SRP Cash for Gold 19 Vinal Square, North Chelmsford, MA 01863 +1 (978) 251 - 9994
Alltown Check Cashing 1551 Acushnet Ave, New Bedford, MA 02746 +1 (508) 993 - 0003
Citizens Bank 50 S Main St, Randolph, MA 02368 +1 (617) 551 - 6262
CNAC Carnow Acceptance Co 1675 Main St, Brockton, MA 02301 +1 (508) 587 - 5559
Payday Loans New Bedford 931 Westland St, New Bedford, MA 02745
Santander Bank 240 W Boylston St, West Boylston, MA 01583 +1 (508) 835 - 4143

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in White Horse Beach, MA, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Falmouth, MA, Short-term Loans in Fitchburg, MA, Emergency Loan in Framingham, MA, Same Day Loans in Haverhill, MA, Bad Credit Loans in Holyoke, MA, Payday Loans in Lawrence, MA, Short-term Loans in Leominster, MA and Bad Credit Loans in Lexington, 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 White Horse Beach, MA.

Beautiful sights of White Horse Beach, MA

Are Payday Loans Legal In White Horse Beach, 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

White Horse Beach, MA payday loan calculator

Everything You Need to Know About Payday Loans in White Horse Beach, Massachusetts

When financial emergencies strike and you need cash quickly, a payday loan may seem like an appealing option. However, payday loans are illegal in Massachusetts, including White Horse Beach. While they may seem like a quick fix, payday loans can come with high interest rates and fees that can trap borrowers in a cycle of debt.

What Are Payday Loans?

Payday loans are short-term loans typically due on the borrower’s next payday. They are designed to help borrowers cover unexpected expenses, such as a car repair or a medical bill. The borrower writes a post-dated check for the amount borrowed plus a fee, usually around $15 for every $100 borrowed. The lender then gives the borrower cash or deposits the loan into their bank account. When the loan is due, the lender cashes the check or electronically withdraws the funds from the borrower’s account.

Why Are Payday Loans Prohibited in Massachusetts?

In Massachusetts, payday loans are considered predatory lending practices and are prohibited under state law. This is because payday loans come with extremely high interest rates and fees that can trap borrowers in a cycle of debt. For example, a borrower may take out a $500 payday loan with a fee of $75. If the loan is due in two weeks, the borrower would have to pay back $575. If the borrower cannot repay the loan on time, they may be charged additional fees and interest, making it even more difficult to repay the loan.

What Are the Alternatives to Payday Loans?

If you find yourself in need of cash quickly, there are several alternatives to payday loans that may be more affordable and less risky. These include:

  • Personal loans from banks or credit unions
  • Credit card cash advances
  • Payment plans with creditors or service providers
  • Borrowing from friends or family

These options may have lower interest rates and fees, longer repayment terms, and fewer risks than payday loans. However, it’s important to be cautious when borrowing money and only take out a loan if you can afford to repay it on time.

Interesting Facts and Statistics

While payday loans are illegal in Massachusetts, they are still prevalent in other states across the country. According to the Consumer Financial Protection Bureau:

  • 12 million Americans take out payday loans each year
  • The average payday loan borrower takes out 10 loans per year
  • Payday loans come with an average APR of 391%
  • The payday loan industry makes approximately $7.4 billion in fees each year

Apply Now

While payday loans are illegal in Massachusetts, TheGuaranteedLoans can help connect you with other types of loans, such as personal loans or installment loans. As a connector service, we work with a network of lenders across the country to help you find the best loan option for your needs. To get started, simply fill out our online application and we will match you with potential lenders. Remember, it’s important to borrow responsibly and only take out a loan if you can afford to repay it on time.

Don’t let financial emergencies stress you out. Explore your options for responsible borrowing and make informed decisions about your financial future.

F.A.Q.

What are the alternatives to payday loans in White Horse Beach, Massachusetts?

Consumers in White Horse Beach, Massachusetts can seek out small, short-term loans from credit unions or banks, or can consider using a credit card or personal loan for financial emergencies.

Why are payday loans prohibited in White Horse Beach, Massachusetts?

Payday loans are prohibited in White Horse Beach, Massachusetts due to their high interest rates and fees, which can trap consumers in a cycle of debt.