Do not do so, Virginia!
Our neighbor towards the south is weighing legislation that will allow loan providers here in order to make car-title loans with triple-digit interest levels to customers in Maryland as well as other states. This just four months after Virginia loan providers had been prohibited from making such loans out of state.
Car-title loans, which permit you to borrow secured on the value of the car, are such bad discounts that a lot more than 50 % of the states, including Maryland, essentially never let them.
Yet customer defenses are merely because strong as the weakest rules in neighboring states. Whether or not one state bans the loans, its residents can drive throughout the state line and borrow at whatever loan terms are permitted here. Continuă lectura „Marylanders can not head to Virginia to get high-cost car-title loans”