Payday Loans in Dameron, Maryland

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

Company nameAddressZip codePhone number
Max Merchant Funding LLC Barlow Building, 5454 Wisconsin Ave 1265, Chevy Chase, MD 20815 +1 (301) 907 - 3863
Wells Fargo Home Mortgage 139 N Main St #102, Bel Air, MD 21014 +1 (410) 879 - 6237
Rieve's Deli 8376 Piney Orchard Pkwy, Odenton, MD 21113 +1 (410) 674 - 4292
Cash-N-Go Frederick 1509 W Patrick St, Frederick, MD 21702 +1 (301) 360 - 0535
Baltimore Washington Federal Credit Union 301 Hospital Dr, Glen Burnie, MD 21061 +1 (410) 787 - 4680
King Pawn Inc 4504 Annapolis Rd, Bladensburg, MD 20710 +1 (301) 779 - 4040
HSBC 200 E Middle Ln Unit C, Rockville, MD 20850 +1 (301) 217 - 0397
MECU Credit Union - Westview Branch 5910 Baltimore National Pike, Catonsville, MD 21228 +1 (410) 752 - 8313
Raymond James Financial Services 15850 Crabbs Branch Way 130, Rockville, MD 20855 +1 (301) 258 - 7792
Bank of America with Drive-thru ATM 7399 Assateague Dr, Jessup, MD 20794 +1 (410) 799 - 1744

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dameron, MD, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Montgomery Village, MD, No Credit Check Loans in Odenton, MD, Guaranteed Loans in Olney, MD, Payday Loans in Owings Mills, MD, Bad Credit Loans in Parkville, MD, Payday Loans in Pikesville, MD, Payday Loans in Potomac, MD and Payday Loans in Randallstown, 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 Dameron, MD.

Are Payday Loans Legal In Dameron, 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

Dameron, MD payday loan calculator

Payday Loans in Dameron, Maryland – Is it Worth the Risk?

Payday loans are short-term loans that are marketed towards individuals who need quick cash to cover expenses until their next paycheck. However, in Dameron, Maryland, payday loans are illegal due to state laws that protect consumers from high-interest loans. In Maryland, any loan with an interest rate over 33% is considered usurious and illegal.

Why are Payday Loans Prohibited in Maryland?

The state of Maryland prohibits payday loans because they have been shown to trap borrowers in a cycle of debt. Payday lenders often charge extremely high interest rates and fees that can add up quickly. This can lead to borrowers taking out more loans to pay off their previous loans, and they can quickly become caught in a cycle of debt.

Even though payday loans are illegal in Maryland, some lenders still operate by claiming to be located in other states or online. These lenders often target individuals who are in desperate need of cash and may not realize that payday loans are illegal in Maryland.

What are the Alternatives?

If you are in need of quick cash in Dameron, Maryland, there are alternatives to payday loans that are both legal and more affordable. Some alternatives include:

  • Personal loans from a bank or credit union
  • Credit card advances
  • Family or friends who may be able to loan you money
  • Extra work through a gig economy service like Uber or Lyft

These options may not be as fast or easy as a payday loan, but they can be much more affordable in the long run. If you are struggling with debt, there are also debt counseling services available that can help you create a plan to manage your finances and pay off your debt.

Facts and Statistics

According to a report from the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 loans per year and spends 199 days out of the year in debt. In Maryland, payday loans are forbidden, but some lenders still operate illegally by hiding their actual location or operating online. As of 2017, Maryland had 34 licensed payday lenders, but the number may have decreased since payday lending became illegal.

Apply Now

Although payday loans are illegal in Dameron, Maryland, if you are in need of quick cash, TheGuaranteedLoans can help you connect with lenders who offer personal loans that may be a more affordable option. Visit our website to fill out an application, and we will connect you with lenders who may be able to provide a solution to your financial troubles. Keep in mind that we are not a direct lender; we help connect borrowers with potential lenders who offer personal loans at competitive rates.

At TheGuaranteedLoans, we are committed to helping our customers find affordable and safe ways to borrow money. We encourage you to explore all of your options before considering a payday loan, and we are here to help if you need it!

F.A.Q.

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

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