Payday Loans in Gunpowder, Maryland

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

Company nameAddressZip codePhone number
First Shore Federal S & L Association 11029 Racetrack Rd, Berlin, MD 21811 +1 (410) 208 - 1668
SunTrust 6707-A, Ritchie Hwy, Glen Burnie, MD 21061 +1 (410) 412 - 2094
PNC Bank 11045 Racetrack Rd, Berlin, MD 21811 +1 (410) 208 - 0200
Fast Cash 51 Main St #3, Westernport, MD 21562 +1 (240) 500 - 1649
First National Bank 576 Ritchie Hwy, Severna Park, MD 21146 +1 (410) 518 - 6885
Crazy Louie's Pawn Shop South Salisbury 124 South Blvd, Salisbury, MD 21804 +1 (410) 742 - 7296
WesBanco Bank 602 Hoagie Dr, Bel Air, MD 21014 +1 (410) 776 - 4100
Lendmark Financial Services LLC 6720 Ritchie Hwy, Glen Burnie, MD 21061 +1 (410) 761 - 4800
Direct Mortgage Loans 111-D, Fulford Ave, Bel Air, MD 21014 +1 (833) 354 - 5626
Mariner Finance 625 Baltimore Blvd, Westminster, MD 21157 +1 (410) 751 - 7200

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gunpowder, MD, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in College Park, MD, Short-term Loans in Columbia, MD, Online Loans in Dundalk, MD, Payday Loans in Ellicott City, MD, Payday Loans in Essex, MD, Payday Loans in Frederick, MD, Payday Loans in Gaithersburg, MD and Quick Loan in Germantown, 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 Gunpowder, MD.

Beautiful sights of Gunpowder, MD

Are Payday Loans Legal In Gunpowder, 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

Gunpowder, MD payday loan calculator

Understanding Payday Loans in Gunpowder, Maryland

If you’re living in Gunpowder, Maryland, and considering taking out a payday loan, it’s important to know that payday lending is prohibited in the state. Though you might come across ads or offers for payday loans from various lenders, understand that these offers are not legitimate and are not available legally. In this article, we will discuss the laws and regulations surrounding payday loans in Gunpowder, Maryland.

The Prohibition of Payday Loans in Gunpowder, Maryland

Payday loans are small-dollar loans that come with high-interest rates, typically due on the borrower’s next payday. In Maryland, all payday lending is prohibited by state law in an effort to protect Maryland residents from predatory lending practices. The state has specifically banned payday loans, car title loans, and other short-term loans with triple-digit interest rates.

The protection law is there to assist to ban the aggressive trap of payday loans, where borrowers become caught in a cycle of debt, frequently resorting to new payday loans to repay old ones. Unfortunately, some Payday loan representatives use illegitimate tactics to bypass restrictions on payday lending, continuing to exploit vulnerable customers in other states.

How Payday Loan Bans Benefit Gunpowder, Maryland Residents

Though payday loans may seem like a quick-fix solution to temporary financial problems, they actually exacerbate financial instability in the long run. Payday loans often leave borrowers in a cycle of debt, in inescapable loan traps. Thus, Maryland has taken a strong stance against predatory lenders by prohibiting payday loans, addressing the disproportionate harm inflicted on lower-middle-income residents who were lured in by the bait and switch of easy money.

Alternative to Payday Loans in Gunpowder, Maryland

Just because payday loans are prohibited in Gunpowder, Maryland, doesn’t mean residents don’t have other financial options. If you need temporary financial assistance instead, consider other alternatives:

  • Credit counseling services
  • Emergency assistance with bills or other living expenses from government programs
  • Loans from credit unions or community banking institutions, which have lower rates of interest
  • Selling unwanted items or service work on freelance platforms

Facts about Payday Loans in Gunpowder, Maryland

Unluckily, there are fake payday lenders ready to take advantage of desperate customers. Keep in mind that all payday lending, including online lending, conducted in Maryland or to Maryland residents, is considered unlawful, with violators subject to prosecution for engaging in unlawful practices. Instead of going after a payday loan, which is illegal in Maryland, opt to explore other options, discussed earlier in this article.

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If you need money quickly to pay for an unexpected emergency or other short-term expense, submit an application on TheGuaranteedLoans website to connect with a network of licensed and authorized providers. Keep in mind that TheGuaranteedLoans is not a direct lender, but rather a connector service intended to facilitate your connection to a third-party lender.

F.A.Q.

Can I be sued for defaulting on a payday loan in Gunpowder, Maryland?

No, you cannot be sued for defaulting on a payday loan in Gunpowder, Maryland because these loans are illegal in the state.

Can a payday loan be included in a bankruptcy filing in Gunpowder, Maryland?

No, a payday loan cannot be included in a bankruptcy filing in Gunpowder, Maryland because these loans are illegal in the state.