Payday Loans in Bivalve, Maryland

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

Company nameAddressZip codePhone number
Lendmark Financial Services LLC 6479 Baltimore National Pike, Catonsville, MD 21228 +1 (410) 455 - 9246
Provident State Bank 1 W Belle St, Ridgely, MD 21660 +1 (410) 634 - 9870
First Cash Pawn 19600 Frederick Rd, Germantown, MD 20876 +1 (301) 916 - 1100
Navy Federal Credit Union 9201 Alaking Ct, Capitol Heights, MD 20743 +1 (888) 842 - 6328
SunTrust Bank 4455 Willard Ave, Chevy Chase, MD 20815 +1 (240) 541 - 4632
Navy Federal Credit Union 4101 Northview Dr, Bowie, MD 20716 +1 (888) 842 - 6328
Allegany County Teachers Federal Credit Union 204 S Lee St, Cumberland, MD 21502 +1 (301) 729 - 8015
Bank of America with Drive-thru ATM 3255 Crain Hwy, Waldorf, MD 20603 +1 (301) 645 - 1111
Mariner Finance 3002 Waldorf Market Pl, Waldorf, MD 20603 +1 (301) 932 - 4484
AdvanceLoan 8101 Sandy Spring Rd, Laurel, MD 20707 +1 (860) 270 - 0708

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bivalve, MD, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Potomac, MD, Payday Loans in Randallstown, MD, Payday Loan for Rockville, MD, Payday Loan Companies in Salisbury, MD, Payday Loans in Severn, MD, Payday Loans in Severna Park, MD, Payday Loans in Silver Spring, MD and Payday Loans in Towson, 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 Bivalve, MD.

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

21814

Are Payday Loans Legal In Bivalve, 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

Bivalve, MD payday loan calculator

Understanding Payday Loans in Bivalve, Maryland

If you are considering a payday loan in Bivalve, Maryland, it is important to note that payday loans are prohibited in the state. Maryland has strict regulations in place to protect consumers from predatory lending practices, including capping interest rates and fees that lenders can charge.

While payday loans may seem like a quick and easy solution to financial emergencies, the high interest rates and short repayment periods can often lead to a cycle of debt. In fact, according to the Consumer Financial Protection Bureau (CFPB), the average payday loan borrower ends up in debt for more than half of the year.

Why are Payday Loans Prohibited in Maryland?

The state of Maryland has taken a strong stance against payday lending due to the high rates of predatory lending practices in the industry. In 2002, the Maryland State legislature passed a law capping interest rates on loans at 33% per year. This law includes payday loans, which typically charge annual interest rates of 400% or more.

The Maryland Commissioner of Financial Regulation also requires payday lenders to be licensed and registered to do business in the state. This means that any lenders operating in Maryland must adhere to strict regulations and guidelines to protect consumers from scams and other fraudulent activities.

What are the Alternatives to Payday Loans in Bivalve, Maryland?

While payday loans are not available in Bivalve, Maryland, there are still several options available to consumers who need quick access to cash. Here are a few alternatives to consider:

  • Personal Loans: Personal loans may be available through local banks and credit unions, and typically offer lower interest rates and more favorable repayment terms than payday loans.
  • Credit Cards: Credit cards can also be a good option for short-term financing needs. While they may come with high interest rates, they often offer rewards and other benefits that can help offset the costs.
  • Community Resources: Many local organizations and resources, such as non-profit organizations, churches, and charities, offer financial assistance programs for those in need. These programs may include loans, grants, or other forms of financial support.

Interesting Facts and Statistics About Payday Loans in Bivalve, Maryland

  • 6.6%: The percentage of households in Maryland that use payday loans, according to a study by the Urban Institute.
  • $377: The average loan amount for a payday loan in Maryland, according to the same study.
  • More than 50%: The percentage of payday loan borrowers in Maryland who take out seven or more loans per year, according to the CFPB.

Apply Now

If you are in need of quick cash and live in Bivalve, Maryland, TheGuaranteedLoans can help connect you with potential lenders who may be able to offer short-term financing solutions. It is important to remember that TheGuaranteedLoans is a connector service, not a direct lender, and that all loan applications are subject to the lender’s approval and terms and conditions. Apply now to get started!

F.A.Q.

Can I take out a payday loan online in Bivalve, Maryland?

No, even if the lender is located outside of Maryland, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in Bivalve, Maryland?

No, it is illegal to use a payday loan from another state in Bivalve, Maryland.