Payday advance loans Maine

Where to turn if you urgently need money in debt? To solve the problem quickly, it is best to use a loan online directly to a credit card. No need to go anywhere, no one to ask or beg. There are no humiliating situations: asking for a loan is not always very pleasant!

Do you need a loan in Maine?

On our site you can place an application in a few minutes. Even if your credit history is not very positive, there are chances: the percentage of refusals is very small.

The fees a lender can charge you depends on how much you borrow.

  • Loans less than $75: $5 fee
  • Loans between $75 and $250: $15 fee
  • Loans greater than $250: $25 fee.

Any small amount is available: you can even take one and a half thousand dollars, and the maximum loan amount is $250. Loan term – from 5 to 31 days. It is quite enough to pay off painlessly for the family budget.

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Our website has made for you the receipt of money and the repayment of the loan as convenient as possible: everything happens through a bank card. You do not even need to leave the house, and the money will go to your card account very quickly.

Maine regulates its lenders and supervises them to make sure they aren’t providing predatory loans. Referred to as small loans in the Maine Revised Statutes Ann. 9-A §1-201 and 9-A §1-301, there is a rate cap of 30% on anything you borrow up to $2,000.

Who is to blame for the debt: the financial sector or borrowers?

What are “bad” debts from the point of view of bankers? These are overdue debts on loans to legal entities and individuals, including those that have little chance of a return. Strictly speaking, bankers are almost always forced to pay the debt, and to write off debts go only in exceptional cases. Bad debts are a hole in the budget of any bank, they are money that does not work and does not bring profit.

Who is to blame for the fact that the population owes so much to banks and microfinance organizations? Opinions diverge, there are two points of view, diametrically opposed.

Blame the banks themselves

Remember the consumer boom of “fat” zero! Loans were heard right and left. Credit cards could be found even in the mailbox with the contract: activate and use! It seemed to people that one could endlessly buy, increase the level of one’s life, enjoy material benefits. Instant loans to the card without checks were already available everywhere. Household appliances were bought mainly on credit. It never occurred to anyone to pay for the car its full value in cash at the car dealership: just a car loan! Nobody was particularly interested in the credit history and solvency of the borrower. “Passport, please!” Oops! The deal is done, the purchase is framed.

Incomes grew, the population was rich. But in 2008-2009, the first crisis calls were made. And today in the economy things have gone really bad amid falling oil prices and the weakening of the dollar. Population incomes are falling, but many people have mortgages, the same, still unpaid auto and consumer loans. The habits of spontaneous purchases of status things remained, despite the risks and falling incomes.

Payday cash loans Maine

The question arises: why did banks persistently teach millions of people to live in debt? Why did it become a standard? There is an answer: in the name of profit, of course, but what else? Even then, interest rates on loans were rather big, but still, in the pursuit of profit, banks made borrowed funds incredibly affordable. Money could be obtained very easily. They did not spare any budgets for advertising, the task was to get the client in their hands at any cost.

Is it possible to argue that banks are to blame? Yes, but only in part. Their fault lies in an ill-conceived credit policy and in greed. If in the second bankers it is difficult to reproach (otherwise what bankers are), then the ill-advised credit policy today has turned into direct losses for them and high risks, poor performance and outflow of investors.

Borrowers are to blame – that is, we, the population

And again the reason lies in greed, just a little different character! This is the desire for indefatigable consumption, the possession of prestigious things, the inclination to live beyond their means.

Here is a social portrait of a typical debtor:

A number of questions arise. Was it worth buying such an expensive apartment compared to income? Is it really impossible to do without a car or buy a car on the secondary in three times cheaper? Why was chasing fashionable gadgets and clothes, expensive household appliances? Life beyond its means – this is the main problem of citizens. Financial literacy is low, and its own financial situation is estimated out of touch with the real state of affairs.