Payday Loans in Broomes Island, Maryland

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

Company nameAddressZip codePhone number
WEPCO Federal Credit Union 12826 Garrett Hwy, Oakland, MD 21550 +1 (301) 334 - 1431
STC, Inc., formerly Security Trust Company, Inc. 223 N Prospect St, Hagerstown, MD 21740 +1 (301) 665 - 2830
NIH Federal Credit Union - Clinical Center Rm B1-C25 9000 Rockville Pike Bldg 10, Bethesda, MD 20892 +1 (800) 877 - 6440
Wells Fargo Home Mortgage 1997 Annapolis Exchange Suite 110, Annapolis, MD 21401 +1 (410) 224 - 5118
WesBanco Bank 196A E Montgomery Ave, Rockville, MD 20850 +1 (301) 637 - 5420
Wells Fargo Advisors 29 N Liberty St, Cumberland, MD 21502 +1 (301) 724 - 2660
PenFed Credit Union 19901 Germantown Rd, Germantown, MD 20874 +1 (800) 247 - 5626
BB&T 4345 Old Taneytown Rd, Taneytown, MD 21787 +1 (410) 756 - 2383
Farmers & Merchants Bank 15226 Hanover Pike, Upperco, MD 21155 +1 (410) 833 - 6600
Huber Michaels Co 110 S Centre St, Cumberland, MD 21502 +1 (301) 722 - 4455

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Broomes Island, MD, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Essex, MD, Payday Loan Without a Credit Check in Frederick, MD, Payday Loans in Gaithersburg, MD, No Credit Check Loans in Germantown, MD, Payday Loan for Glen Burnie, MD, Quick Loan in Hagerstown, MD, Payday Loans in Montgomery Village, MD and Payday Loans in Odenton, 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 Broomes Island, MD.

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

20615

Are Payday Loans Legal In Broomes Island, 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

Broomes Island, MD payday loan calculator

Are you thinking of taking out a payday loan in Broomes Island, Maryland? Before you do, you should know that payday loans are prohibited in Maryland. Unfortunately, many people turn to payday loans because they feel like they have no other option.

What are Payday Loans?

For those who are not familiar with payday loans, these are short-term loans that are meant to be repaid on the borrower’s next payday. Typically, these loans have high interest rates and fees, which can make them very expensive.

In Maryland, payday lending is illegal. This is because the state government has recognized the high costs associated with payday loans and the potential for borrowers to fall into a cycle of debt.

Why are Payday Loans Prohibited in Maryland?

In Maryland, payday loans are prohibited because the state government believes that it is important to protect consumers from predatory lending practices. The state government has recognized that payday loans can be very expensive and can lead to financial hardship for borrowers.

Additionally, payday loans are not a good solution to long-term financial problems. Many people who take out payday loans end up rolling over their loans, which means that they are taking out a new loan to repay an existing loan. This can quickly lead to a cycle of debt that is difficult to break.

What are the Alternatives to Payday Loans in Maryland?

Fortunately, there are alternatives to payday loans in Maryland. If you are in need of short-term financial assistance, you may want to consider the following options:

  • Credit Union Loans: Many credit unions offer small-dollar loans with low interest rates and fees. These loans are typically more affordable than payday loans and can be paid back over a longer period of time.
  • Credit Counseling Services: If you are experiencing financial hardship, you may want to consider working with a credit counseling service. These organizations can help you create a budget and develop a plan to manage your debt.
  • Budgeting Assistance: If you are struggling to make ends meet, you may want to reach out to a local non-profit organization that offers budgeting assistance. These organizations can provide you with the tools and resources you need to manage your finances more effectively.

It is important to remember that there are alternatives to payday loans and that you should explore all of your options before taking out a loan.

Interesting Facts or Statistics about Payday Loans in Broomes Island, Maryland

  • In 2019, there were no licensed payday lenders in Maryland
  • The average interest rate for payday loans is 391%
  • The average payday loan borrower in the United States takes out eight loans per year

Apply Now!

If you are in need of short-term financial assistance in Maryland, TheGuaranteedLoans can help. While we do not offer payday loans, we can connect you with potential lenders who may be able to provide you with a small-dollar loan.

To get started, fill out our online application. We’ll ask you for some basic information about yourself, including your name, address, and employment status. Once you submit your application, we’ll work to connect you with potential lenders who may be able to provide you with the funds you need.

Remember, TheGuaranteedLoans is a connector service, not a direct lender. This means that we do not make credit decisions and we do not have any control over the terms of your loan. If you are connected with a lender, they will provide you with information about your loan, including the interest rate, fees, and repayment terms.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Broomes Island, Maryland?

No, because payday loans are illegal in Broomes Island, Maryland, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Broomes Island, Maryland?

Yes, the state of Maryland has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.