Payday Loans in Accident, Maryland

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No payday loan companies in Accident, MD. Consider companies in other cities:

Company nameAddressZip codePhone number
SunTrust Bank 3500 East-West Hwy, Hyattsville, MD 20782 +1 (301) 955 - 3811
BB&T 10264 Southern Maryland Blvd Suite 100, Dunkirk, MD 20754 +1 (410) 257 - 7396
Check Cash Inc 3414 Hamilton St, Hyattsville, MD 20782 +1 (240) 296 - 3203
Check Cash Depot 10 N Summit Ave, Gaithersburg, MD 20877 +1 (301) 527 - 1666
Lujos Multiservice Inc 1515 Postal Rd, Chester, MD 21619 +1 (410) 643 - 3230
AA Check Cashing Service 6968 Security Blvd, Baltimore, MD 21244 +1 (410) 298 - 6664
Mariner Finance 113 NE Plaza, North East, MD 21901 +1 (410) 287 - 3835
Urban Bad Credit Loan 27 N Market St, Frederick, MD 21701 +1 (240) 823 - 4674
BB&T - Upper Cross Roads Branch 2401 Baldwin Mill Rd, Fallston, MD 21047 +1 (410) 692 - 2403
BB&T 4345 Old Taneytown Rd, Taneytown, MD 21787 +1 (410) 756 - 2383

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Accident, MD, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Baltimore, MD, Payday Loans in Bethesda, MD, Payday Loans in Bowie, MD, Payday Loans in Catonsville, MD, Bad Credit Loans in Clinton, MD, Emergency Loan in College Park, MD, Payday Loans in Columbia, MD and Same Day Loans in Dundalk, MD. 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 Accident, MD.

Beautiful sights of Accident, MD

Payday Loans Available in Accident, MD By The Following ZIP Codes:

21520

Are Payday Loans Legal In Accident, Maryland?

Payday Lending is Prohibited in Maryland

Maryland Loan Regulations

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

Accident, MD payday loan calculator

Understanding Payday Loans in Accident, Maryland: What You Need to Know

Payday loans have become popular across the US, but there are several states where these loans are either prohibited or highly regulated due to the potential risks they may pose to consumers. In Maryland, payday loans are prohibited due to their high-interest rates and fees, which can trap borrowers in a cycle of debt. In this article, we will delve into the specifics of payday loans in Accident, Maryland and discuss what borrowers should know before considering this type of loan.

Why Are Payday Loans Prohibited in Maryland?

Payday loans can carry extremely high fees and interest rates, often ranging from 300% to 400% APR. These rates can lead to borrowers becoming trapped in a cycle of debt, where they are unable to pay back the loan on time and are forced to take out additional loans to cover the initial debt. This cycle can lead to borrowers incurring more debt and damaging their credit history, making it more difficult to access traditional loans in the future.

Some advocates for payday lending argue that these loans can be a useful short-term solution for financial emergencies, but those in opposition point out the high costs and long-term risks. The state of Maryland has taken a stance against these high-cost loans by prohibiting payday loans, thus protecting consumers from potentially predatory lending practices.

What Other Loan Options are Available in Maryland?

While payday loans are not available in Maryland, there are alternative loan options for those who are in need of quick cash. One such option is a personal loan, which is typically available from banks or credit unions. Personal loans come with a fixed interest rate and repayment term, allowing borrowers to plan and budget accordingly.

Another option is to seek assistance from a nonprofit organization that provides financial counseling and assistance. These organizations can provide advice on budgeting, debt management, and other financial matters, helping individuals to improve their financial situation over the long-term.

Interesting Facts and Statistics About Payday Loans in Accident, Maryland

  • Payday loans are prohibited in 15 states and the District of Columbia.
  • In Maryland, the maximum interest rate that can be charged on loans is set at 33%.
  • A 2018 survey found that 34% of Maryland residents have less than $500 in emergency savings, making them susceptible to financial emergencies and potentially high-cost loans.
  • According to a report by Center for Responsible Lending, payday lenders in Maryland charge an average of 450% APR on loans.

Apply Now

While payday loans are not available in Maryland, TheGuaranteedLoans can connect you with potential lenders who offer alternative loan options such as personal loans. Simply fill out our online application form, and we will match your request with the best lenders based on your specific needs and qualifications. As a connector service, we do not directly lend money, but we strive to make the loan application process as streamlined and easy as possible for our customers.

If you are in need of quick cash in Accident, Maryland, it is important to consider all available loan options and choose the one that is right for you. Remember, payday loans may seem like an attractive option, but the high costs and potential risks associated with these loans may not be worth the short-term benefits.

F.A.Q.

Can I get a payday loan with bad credit in Accident, Maryland?

No, payday loans are not available in Accident, Maryland regardless of credit history.

Can I get a payday loan without a checking account in Accident, Maryland?

No, payday loans are not available in Accident, Maryland regardless of banking status.