Payday Loans in Milton Village, Massachusetts

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No payday loan companies in Milton Village, MA. Consider companies in other cities:

Company nameAddressZip codePhone number
TD Bank 880 Massachusetts Ave, Arlington, MA 02476 +1 (781) 641 - 0050
HarborOne Bank One Chestnut Place, Suite 1, Quincy, MA 02169 +1 (617) 226 - 3715
The Check Exchange 597 Waverly St, Framingham, MA 01702 +1 (508) 861 - 3366
Somerville's Credit Union 236 Holland St, Somerville, MA 02144 +1 (617) 625 - 0898
IC Federal Credit Union - Mechanic Street Branch 400 Mechanic St, Leominster, MA 01453 +1 (800) 262 - 1001
Best Choice Tax & Finance Services 25 Drum Hill Rd ste d, Chelmsford, MA 01824 +1 (978) 275 - 0096
Eastern Bank 60 Main St, Andover, MA 01810 +1 (978) 296 - 9044
Rockland Trust 170 Needham St, Newton Highlands, MA 02461 +1 (617) 969 - 1950
Bridgewater Credit Union, A Division of Merrimack Valley Credit Union 41 Fairhaven Commons Way, Fairhaven, MA 02719 +1 (800) 897 - 0343
Notre Dame Federal CU 659 Eastern Ave, Fall River, MA 02723 +1 (508) 676 - 1067

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Milton Village, MA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Taunton, MA, No Credit Check Loans in Tewksbury, MA, Payday Loans in Waltham, MA, Payday Loans in Westfield, MA, No Credit Check Loans in Woburn, MA, Payday Loans in Worcester, MA, Quick Loan in Andover, MA and Online Loans in Arlington, MA. 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 Milton Village, MA.

Beautiful sights of Milton Village, MA

Are Payday Loans Legal In Milton Village, Massachusetts?

Payday Lending is Prohibited in Massachusetts

Massachusetts Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Milton Village, MA payday loan calculator

Understanding Payday Loans in Milton Village, Massachusetts

When facing sudden financial emergencies, people often look for quick, convenient, and easy-to-access financial assistance options. In such situations, payday loans may seem like a viable option. However, it is important to understand that payday loans are prohibited in Massachusetts, including Milton Village.

What Are Payday Loans?

Payday loans are short-term, high-interest loans that typically require the borrower to repay the loan on their next payday. These loans have high interest rates and fees and are often marketed to financially vulnerable populations, such as low-income households.

Why Are Payday Loans Prohibited in Massachusetts?

Massachusetts has prohibited payday lending in the state in order to protect consumers from predatory lending practices. The state set a 23% cap on interest rates for consumer loans, which made it impossible for payday lenders to operate in the state.

What Are the Alternatives to Payday Loans in Milton Village, Massachusetts?

Although payday loans are not legal in Massachusetts, there are several alternative financial assistance options that borrowers can consider:

  • Personal Loans: Personal loans are a viable option for those who have good credit scores and a steady income. These loans often have lower interest rates than payday loans and allow borrowers to repay the amount borrowed over a longer period of time.
  • Emergency Assistance Programs: Many local organizations offer emergency assistance programs that provide financial support to people facing unexpected emergencies. These programs offer grants, financial assistance, and other services to help people in need.
  • Credit Counseling: Credit counseling services can help people manage their debt and improve their credit scores. These services offer financial education and guidance to help people make informed decisions and improve their financial situation.
  • Credit Union Loans: Credit unions are a great alternative to payday loans as they typically offer low-interest loans with flexible repayment terms. These loans are only available to members of the credit union and may require a credit check or collateral.

Interesting Facts and Statistics about Payday Loans in Milton Village, Massachusetts

  • In 2009, Massachusetts legislature passed a law that limited the interest rate that lenders could charge on all loans, including payday loans, to 23%.
  • According to a study by the Center for Responsible Lending, the average payday borrower in Massachusetts pays more than $500 in interest and fees to borrow $400 over a two-week period.
  • Milton Village is a village in the town of Milton, which is located in Norfolk County, Massachusetts. It has a population of approximately 27,000 people.

Apply Now

While payday loans are not legal in Massachusetts, TheGuaranteedLoans can connect you with potential lenders who offer other types of loans such as personal loans and credit union loans. Our application process is fast, easy, and convenient. Simply fill out our online application form and we will connect you with one or more lenders that meet your specific requirements. Please note that we are a connector service, not a direct lender, and we do not make credit decisions.

In conclusion, payday loans are not a legal option in Milton Village, Massachusetts. However, there are several alternative financial assistance options available for those facing unexpected emergencies. It is important to do your research and choose a financial assistance option that suits your specific needs and financial situation.

F.A.Q.

Can I take out a payday loan online in Milton Village, Massachusetts?

No, even if the lender is located outside of Massachusetts, 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 Milton Village, Massachusetts?

No, it is illegal to use a payday loan from another state in Milton Village, Massachusetts.