Payday Loans in Henderson, Maryland

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

Company nameAddressZip codePhone number
Washington County Teachers Federal Credit Union 19638 Leitersburg Pike, Hagerstown, MD 21742 +1 (301) 790 - 3131
ACE Cash Express 5221 Indian Head Hwy, Oxon Hill, MD 20745 +1 (301) 839 - 6382
Antwerpen Nissan Security 1701 Woodlawn Dr 4006, Baltimore, MD 21207 +1 (410) 298 - 4400
SunTrust Bank 8924 Woodyard Rd, Clinton, MD 20735 +1 (301) 235 - 9387
MB Business Capital 230 Schilling Cir #340, Hunt Valley, MD 21031 +1 (443) 798 - 6505
Capital Express Solutions 2275 Research Blvd STE 500, Rockville, MD 20850 +1 (240) 243 - 1345
SunTrust Bank 405 Manning Rd E, Accokeek, MD 20607 +1 (301) 965 - 9570
PNC Bank 459 E Baltimore St, Taneytown, MD 21787 +1 (410) 756 - 2371
Cedar Point Federal Credit Union 90 Auto Dr, Prince Frederick, MD 20678 +1 (410) 414 - 3086
Warner Winston L CPA 135 W Dares Beach Rd, Prince Frederick, MD 20678 +1 (410) 257 - 3084

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Henderson, MD, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Rockville, MD, Payday Loans in Salisbury, MD, Online Loans in Severn, MD, Short-term Loans in Severna Park, MD, Online Loans in Silver Spring, MD, Payday Loans in Towson, MD, Payday Loans in Waldorf, MD and Payday Loans in Annapolis, 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 Henderson, MD.

Beautiful sights of Henderson, MD

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

21640

Are Payday Loans Legal In Henderson, 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

Henderson, MD payday loan calculator

Understanding Payday Loans: A Comprehensive Guide for Henderson, Maryland

If you’re in need of quick cash, you may be considering a payday loan. However, if you live in Henderson, Maryland, it’s important to know that payday loans are prohibited in the state. While the temptation to obtain a payday loan may be high, the consequences of doing so can be severe.

What are payday loans?

Payday loans are a type of short-term loan that typically must be repaid by the borrower’s next payday. These loans are often marketed to consumers who need cash quickly and without a credit check, making them an appealing option for those with bad credit or limited financial resources.

However, payday loans often come with high interest rates and fees, and can trap borrowers in a cycle of debt. In many cases, borrowers must take out additional loans just to cover the fees and interest on their previous loans.

Why are payday loans illegal in Maryland?

In 2002, Maryland passed a law prohibiting payday loans in the state. The law was passed in response to concerns over the high interest rates and fees associated with these loans, which often left borrowers in worse financial shape than they were in before taking out the loan.

Since then, payday lenders have been prohibited from operating in the state of Maryland. However, some lenders may attempt to skirt the law by offering loans over the internet or through other loopholes.

What are the alternatives to payday loans in Henderson, Maryland?

If you’re in need of quick cash, there are alternatives to payday loans that may be more affordable and less risky. Some options include:

  • Credit counseling: Many nonprofit organizations offer free or low-cost credit counseling services to help you manage your debts and improve your credit score.
  • Personal loans: Depending on your credit score and financial history, you may be able to qualify for a personal loan from a bank or other financial institution.
  • Credit cards: While credit cards may come with high interest rates, they can be a more affordable option than payday loans, especially if you pay off your balance in full each month.
  • Negotiating with creditors: If you’re struggling to pay your bills, you may be able to negotiate a repayment plan or settlement with your creditors.

Interesting facts and statistics about payday loans in Henderson, Maryland

  • Payday loans have an average interest rate of 391% in the United States (source: Consumer Financial Protection Bureau).
  • In 2019, Maryland consumers filed 235 complaints with the Consumer Financial Protection Bureau regarding payday loans and other financial products (source: Consumer Financial Protection Bureau).
  • The average payday loan borrower takes out eight loans per year, spending more than $500 in fees alone (source: Pew Charitable Trusts).

Apply now for a loan in Henderson, Maryland

If you’re in need of quick cash, TheGuaranteedLoans can help connect you with potential lenders in or near Henderson, Maryland. Our application process is fast and easy, and we work with a network of trusted lenders who can provide you with the funds you need. Please note that we are a connector service, not a direct lender, and that we do not guarantee loan approval. To apply, simply fill out our online application form and we’ll work to connect you with potential lenders today.

F.A.Q.

How do I know if a lender is offering illegal payday loans in Henderson, Maryland?

Lenders offering illegal payday loans in Henderson, Maryland may not be licensed by the state and may have high interest rates and fees that are not allowed under state law.

What can I do if I have taken out an illegal payday loan in Henderson, Maryland?

If you have taken out an illegal payday loan in Henderson, Maryland, you can contact the Maryland State Department of Financial Services to report the lender and seek assistance in resolving the issue.