Payday Loans in Trappe, Maryland

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

Company nameAddressZip codePhone number
JustBoatLoans 877 Baltimore Annapolis Blvd, Severna Park, MD 21146 +1 (410) 263 - 6032
M C Check Cashing 12 E Diamond Ave # B, Gaithersburg, MD 20877 +1 (240) 912 - 6529
On Q Financial 1997 Annapolis Exchange, Parkway Suite 3, Annapolis, MD 21401 +1 (866) 667 - 3279
HFS Financial 100 Owings Ct 13, Reisterstown, MD 21136 +1 (800) 254 - 9560
Hampshire Pawnbrokers 10210 New Hampshire Ave, Silver Spring, MD 20903 +1 (301) 445 - 1000
Bank of Ocean City 11001 Nicholas Ln, Berlin, MD 21811 +1 (410) 208 - 9380
Greystone Servicing 2406 Hal Cir, Baltimore, MD 21209 +1 (410) 653 - 9740
PNC Bank 7933 Bayside Rd, Chesapeake Beach, MD 20732 +1 (410) 286 - 5978
Walmart Money Center 2132 Old Snow Hill Rd, Pocomoke City, MD 21851 +1 (410) 957 - 9600
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 Trappe, MD, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Frederick, MD, Payday Loan Without a Credit Check in Gaithersburg, MD, Payday Loan for Germantown, MD, Bad Credit Loans in Glen Burnie, MD, Payday Loans in Hagerstown, MD, Payday Loans in Montgomery Village, MD, Payday Loans in Odenton, MD and Payday Loan for Olney, 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 Trappe, MD.

Beautiful sights of Trappe, MD

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

21673

Are Payday Loans Legal In Trappe, 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

Trappe, MD payday loan calculator

Understanding Payday Loans in Trappe, Maryland

If you’re looking for a way to make ends meet in Trappe, Maryland, you might be considering a payday loan. However, it’s important to understand that payday loans are prohibited in Maryland.

What is a Payday Loan?
A payday loan is a short-term, high-interest loan that is meant to be repaid with your next paycheck. These loans are often marketed to people who need cash quickly and may not have access to traditional loans or credit cards. However, because they come with high fees and interest rates, payday loans can quickly become a debt spiral.

Why Are Payday Loans Prohibited in Maryland?
Maryland is one of 15 states and the District of Columbia that have banned payday loans. The state’s prohibition is in place to protect consumers from the predatory lending practices that are associated with these high-interest loans. Maryland law prohibits payday lenders from charging more than 33% interest on loans of $2,000 or less.

What Are the Alternatives to Payday Loans?
If you’re in need of cash, there are alternatives to payday loans that you can consider. Some options include:

  • Credit counseling: A credit counseling agency can help you create a budget and develop a plan to pay off your debts over time.
  • Personal loans: A personal loan from a bank or credit union may offer lower interest rates than a payday loan. However, you’ll need to have good credit to qualify.
  • Credit cards: While credit cards may also carry high-interest rates, they offer a more flexible repayment structure than payday loans.

It’s important to consider all of your options and thoroughly review the terms and conditions before committing to a loan.

Interesting Facts and Statistics about Payday loans in Trappe, Maryland

  • Payday loans are prohibited by law in Maryland
  • In Maryland, payday lenders are prohibited from charging more than 33% interest on loans of $2,000 or less
  • Maryland is one of 15 states in the US that has banned payday lending

Apply Now

If you’re in need of funds, TheGuaranteedLoans may be able to help connect you with potential lenders. We are a connector service, not a direct lender, and we work to match borrowers with options that fit their unique needs. To get started, simply fill out our online application and we’ll work on finding the right loan option for you.

Remember, payday loans are prohibited in Maryland, but there are alternative options available. By exploring these options and thoroughly reviewing the terms and conditions of any loan you consider, you can make informed decisions about your finances and avoid the debt spiral of high-interest loans.

F.A.Q.

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

Consumers in Trappe, Maryland can seek out small, short-term loans from credit unions or banks, or can consider using a credit card or personal loan for financial emergencies.

Why are payday loans prohibited in Trappe, Maryland?

Payday loans are prohibited in Trappe, Maryland due to their high interest rates and fees, which can trap consumers in a cycle of debt.