Maine Payday Loans
Online Company
mainepaydayloans.com
Living in Maine definitely has its advantages. Lobster is relatively cheap and always fresh and payday loans are unregulated. This means you have access to a very unique opportunity with personal finances in this state. Most states will allow people to borrow only up to $1000 max and this is expected to be repaid with all the fees within 30 days but typically on your very next payday. In Maine, you can borrow any amount a lender is willing to offer you and since there are no payback dates on the law books, you can often get an amazing amount of leeway for paying it back.
What They Offer
Maine Payday Loans offers you the ability to work with a wide variety of lenders. When you fill out your application, a customer service representative will call you back and help you figure out exactly the type of loan you need and can pay back in a reasonable amount of time. Since there are no regulations in Maine, you can often borrow much more than you’d qualify for in other states.
The typical payday loan will be for 10-20% of your gross monthly income and you’ll have about a month to pay it back. Since there isn’t anything set in stone in Maine, you may find you’re able to borrow up to 50% or more of your gross monthly income and in some cases you can pay it back in small payments over 12 months or more. This can be very beneficial if used properly and not abused.
Where They Are Located
Maine Payday Loans is a web only company and that works for them because they act a go between for you and local lenders. The headquarters of this company is in Florida but you will probably be matched with a lender in Maine and possibly even one in your current city.
Online companies are becoming very popular as technology improves because they can be used from anywhere if you have a cell phone or laptop that allows you to get online while on the go.
Rates/Terms
Maine doesn’t have any rates, regulations or specific terms. What you’ll need to do is go over all the details with the customer service rep who contacts you with information about lenders that match what you are looking for. Each lender will have very different rates but these are always very competitive when regulations are relaxed.
Additional Info
Make sure you read all the fine print and understand the lender’s terms before agreeing to anything at all. The rules don’t exist in Maine so while uncommon, some lenders will add on various fees that you may not understand. If you have any questions at all, make sure you get all the necessary information before you agree.
