Payday Loans in Readville, Massachusetts

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

Company nameAddressZip codePhone number
Citizens Bank Supermarket Branch 224 Elliott St, Beverly, MA 01915 +1 (978) 921 - 8800
Freedom Mortgage - Oxford 367 Main St Unit 3, Oxford, MA 01540 +1 (877) 684 - 4210
Beacon Hill Funding, Inc. 6 Eastman Pl Suite 103, Melrose, MA 02176 +1 (888) 853 - 1325
Yauvan Kumar 671 Tremont St, Boston, MA 02118 +1 (617) 606 - 3442
Empire Loan of Stoughton 353 Washington St, Stoughton, MA 02072 +1 (781) 341 - 2500
Santander Bank ATM 1280 Worcester Rd, Framingham, MA 01702 +1 (877) 768 - 2265
Citizens Bank Supermarket Branch 468 Washington St, Norwell, MA 02061 +1 (781) 681 - 5651
Citizens Bank Supermarket Branch 6 Thatcher Rd, Gloucester, MA 01930 +1 (978) 281 - 7410
BayCoast Bank 2 Locust St, Berkley, MA 02779 +1 (508) 678 - 7641
Bank of Canton 60 Mayor Thomas J McGrath Hwy, Quincy, MA 02169 +1 (617) 770 - 4222

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Readville, MA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Woburn, MA, Short-term Loans in Worcester, MA, Payday Loans in Andover, MA, Payday Loans in Arlington, MA, Payday Loans in Attleboro, MA, Payday Loans in Beverly, MA, No Credit Check Loans in Billerica, MA and Payday Loans in Boston, 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 Readville, MA.

Beautiful sights of Readville, MA

Are Payday Loans Legal In Readville, 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

Readville, MA payday loan calculator

Understanding Payday Loans: What You Need to Know

Payday loans have been a source of controversy for some time now. In Massachusetts, payday loans are prohibited, making it illegal for lenders to operate within the state. However, some residents may still be seeking out payday loans in Readville, Massachusetts, and we’re here to provide you with the information you need to know.

What are Payday Loans?

Payday loans are a type of short-term loan where a borrower takes out a small amount of money with the promise to pay it back on their next payday. These loans often come with high interest rates and fees, making them a risky option for many borrowers.

In Massachusetts, payday loans are considered illegal. The state has strict regulations in place to protect consumers from predatory lending practices, ensuring that they have access to affordable and safe loan options.

Payday Loans in Readville, Massachusetts

While payday loans are prohibited in the state, some lenders may still offer these types of loans within Readville, Massachusetts. However, it’s important to note that these lenders are operating illegally and are not licensed to provide payday loans.

If you’re seeking out a payday loan in Readville, it’s important to understand the risks associated with these types of loans. Not only are they illegal, but they also come with high interest rates and fees that can quickly spiral out of control.

Alternative Loan Options

While payday loans may seem like a quick and easy solution to financial problems, there are alternative loan options available in Massachusetts. These options include personal loans, credit union loans, and community assistance programs.

Personal loans are typically offered by banks and other financial institutions and come with lower interest rates than payday loans. Credit union loans are similar to personal loans but are offered by member-owned organizations. Community assistance programs may also be available for those in need.

Interesting Facts and Statistics

  • In Massachusetts, the maximum interest rate for a small loan is 23% per annum, making payday loans’ astronomical interest rates of over 500% illegal (Mass. Gen. Laws Ann. ch. 140, §§ 96 et seq.)
  • In 2016, the average payday loan borrower in Massachusetts took out nine loans per year, with an average loan amount of $387 (The Pew Charitable Trusts)

Apply Now

If you’re in need of a loan, we at TheGuaranteedLoans are here to help. Our website is a connector service, meaning that we connect borrowers with potential lenders. Fill out our online application to get started today.

Please note that TheGuaranteedLoans is not a direct lender. We do not make any lending decisions and are not responsible for the actions of any lenders we connect you with. We encourage all borrowers to fully research any potential lenders before borrowing any money.

Conclusion

Payday loans are illegal in Massachusetts, including Readville. While some lenders may still offer these types of loans, it’s important to understand the risks associated with them. Instead, consider alternative loan options, such as personal loans, credit union loans, and community assistance programs. If you’re in need of a loan, TheGuaranteedLoans is here to help connect you with potential lenders.

F.A.Q.

How do I know if a lender is offering illegal payday loans in Readville, Massachusetts?

Lenders offering illegal payday loans in Readville, Massachusetts 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 Readville, Massachusetts?

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