Massachusetts Payday loans

Are Massachusetts payday loans legal?

No according to the law, Massachusetts payday loans are legal and as such Massachusetts payday loan companies have rules they must follow regarding interest rates especially.   In the case of Massachusetts payday loan companies the max interest is 23% per year plus a $20 admin fee.

Other options to consider instead of Massachusetts payday loans

Massachusetts payday loan costs

Regardless of the type of credit you are given by a Massachusetts lending institution, you always have to pay the money back plus all fees and interest you signed up for. The interest you pay comes down to your credit history, the type of credit line you want, your employment history and your relationship with the institution itself. There are usually many types of fees such as application, disbursement, late payment and settlement fees.   We recommend you read the fineprint before you consider a Massachusetts payday loan or similar. Remember that depending on the loan type there will be a non-sufficient funds fee, that is, if your check bounces you will pay a fine.