Holliston Personal Loan Terms and Rules in 2025

Common Capital is a Help Organization dedicated to providing the public with comprehensive, accurate, and accessible online information about payday loans in Massachusetts.

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Massachusetts Holliston

Holliston Short-term Loans Terms

Legal Status Illegal
Interest Rate (APR) 23% small loan cap

Trusted Personal Loan Lenders in Holliston, MA

Explore our curated list of trusted personal loan lenders, dedicated to providing reliable financial solutions tailored to your needs and empowering you to achieve your personal goals.

Lender
User Ratings
Address
Phone
Category
Christopher J Huckins CPA PC
User Raiting:
5.00
Address: 27 Charles St, Holliston, MA 01746
Phone: +1 (508) 429-7644
Category: Financial institution
Santander Bank Branch
User Raiting:
4.50
Address: 818 Washington St, Holliston, MA 01746
Phone: +1 (508) 429-2777
Category: Bank
Middlesex Savings Bank
User Raiting:
3.40
Address: 830 Washington St, Holliston, MA 01746
Phone: +1 (508) 429-2393
Category: Bank

Massachusetts Short-term Loan Regulations

In Massachusetts, payday loans are regulated under the Massachusetts Small Loan Act. This act, similar to Maryland's, is stringent and effectively limits the operation of traditional payday lending. The law caps the annual interest rate at 23% and administrative fees at $20 for loans under $6,000, making high-interest rate payday loans as commonly seen in other states unviable. As a result, traditional payday lending, characterized by short-term, high-interest loans, is largely non-existent in Massachusetts.

Additionally, payday lenders in Massachusetts must comply with federal regulations such as the Truth in Lending Act, which mandates that lenders disclose the cost of the loan in terms of the finance charge and the annual percentage rate (APR). The Fair Debt Collection Practices Act also applies, overseeing how debts are collected and prohibiting abusive, deceptive, and unfair collection practices. These federal laws, in conjunction with Massachusetts state regulations, provide robust protection for consumers against predatory lending practices.

What Are the Alternatives for Short-term Loans in Holliston?

Discover safer financial solutions to payday loans with our guide. Explore budgeting tips, community resources, credit counseling, and small loan alternatives to regain control of your finances.

Instant Installment Loans

Instant installment loans are personal loans divided into monthly payments, offering predictable repayment schedules. These loans are ideal for borrowers needing time to repay substantial amounts.

Fast Cash Loans

Fast cash loans provide borrowers with quick access to small amounts of money for urgent expenses. Often short-term, they're designed for financial emergencies requiring immediate action.

Quick Title Loans

Quick title loans use the borrower's vehicle as collateral, offering speedy access to funds. They're beneficial for those who own a vehicle outright and need fast financial assistance.

Emergency Loan Online

Emergency loan online services provide rapid funding for unexpected situations, ensuring swift access to necessary funds. They're essential for tackling unforeseen expenses like medical bills or urgent repairs.

Payday Loans Online

Payday loans online are short-term, high-interest loans borrowed against your next paycheck. They provide a convenient way to access funds using a straightforward online application process.

No Credit Check P2P Loans

No credit check P2P loans connect borrowers directly with individual lenders, bypassing traditional financial institutions. They're advantageous for those with poor credit seeking flexible borrowing options.

Guaranteed Debt Consolidation Loans

Guaranteed debt consolidation loans enable borrowers to merge multiple debts into a single payment plan. This simplifies repayment and can reduce overall interest, providing a structured debt-clearing approach.

Online Bad Credit Loans

Online bad credit loans cater to individuals with poor credit histories, offering vital financial solutions. Easy accessibility and tailored terms help borrowers rebuild their credit and manage emergencies.

Requirements for Instant Cash Advance

  • Applicant must be at least 18 years old.
  • Valid government-issued identification is required.
  • Proof of steady income or employment, such as recent pay stubs.
  • Active bank account in the applicant's name.
  • Contact information, including phone number and email address.
  • Completed and signed application form.
  • Consent to a credit check may be required in some cases.
  • Applicants should comply with all local and federal regulations.

How to Use Personal Loans - Useful Resources

Explore our essential resources on using personal loans wisely. Equip yourself with knowledge to make informed decisions and manage finances effectively with our comprehensive guide.

Industry
Address
Phone
Car Accessories
Address: 6 Winthrop Street, Holliston, MA 01746
Phone: +1 (508) 429-2799
Car Wash
Address: 275 Hopping Brook Road, Holliston, MA 01746
Phone: +1 (781) 248-9424
Dentist
Address: 403 Washington Street, Holliston, MA 01746
Phone: +1 (508) 429-7800
Dry Cleaner
Address: 64 Central Street, Holliston, MA 01746
Phone: +1 (774) 233-0525
Fitness Club & Center
Address: 310 Woodland Street, Holliston, MA 01746
Phone: +1 (508) 429-8620
Government Office
Address: 703 Washington Street, Holliston, MA 01746
Phone: +1 (508) 429-0607
Pharmacy
Address: 229 Lowland Street, Holliston, MA 01746
Phone: +1 (774) 233-0117
Sandwich Restaurant
Address: 459 Washington Street, Holliston, MA 01746
Phone: +1 (508) 893-0800

How to Get to Holliston

Complaints about Short-term loan, Title Loan, or Personal Loan in Massachusetts

Issue Type
Amount of Complaints
Charged fees or interest you didn't expect
110
Problem when making payments
57
Problem with the payoff process at the end of the loan
54
Struggling to pay your loan
52
Charged fees or interest I didn't expect
38
Getting the loan
34
Incorrect information on your report
19
Getting a line of credit
17
Problem with additional add-on products or services
15
Can't contact lender
11
The data is taken from consumer complaint database created by Consumer Financial Protection Bureau

Submit a Complaint for a Short-term lender in Holliston

If you need to submit a complaint against a payday lender in Massachusetts, the primary regulatory body is the Massachusetts Division of Banks. They ensure compliance with state laws governing payday loans. You can reach them at:

  • Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400
  • (617) 956-1500
Submit a Complaint

Frequently Asked Questions about Short-term Loans

Are Payday Loans Legal in Massachusetts?

No, payday loans are not legal in Massachusetts. The state has stringent laws and regulations in place that prohibit payday lending to protect consumers from predatory practices and high interest rates. These regulations are designed to safeguard the financial well-being of Massachusetts residents.

Why are Payday Loans Prohibited?

Payday loans are prohibited in Massachusetts due to concerns about the harm they can cause to borrowers. The high-cost structure of payday loans can lead individuals into cycles of debt, making it challenging to achieve financial stability. The state government has implemented these laws to prevent payday lenders from exploiting vulnerable consumers.

What Alternatives Are Available for Short-Term Financial Needs?

Massachusetts offers various alternatives for individuals facing short-term financial needs. These alternatives prioritize responsible lending practices and borrower protection. Residents can explore traditional bank loans, credit unions, personal installment loans, and assistance programs provided by nonprofit organizations and government agencies.

Can Out-of-State Lenders Offer Payday Loans?

No, out-of-state payday lenders are not allowed to offer payday loans to residents in Massachusetts. The state's regulations extend beyond its borders to ensure that borrowers are protected from predatory lending practices, regardless of the lender's location.

What Should I Do If I Have an Existing Payday Loan in Massachusetts?

If you have an existing payday loan, it's important to know that it is not legally enforceable in Massachusetts. The state's laws render such loans void. If you're facing challenges related to an existing payday loan, you can seek guidance from the Massachusetts Division of Banks. They can provide assistance and resources to help resolve any issues associated with the loan.

Where Can I Report Unlawful Payday Lending Practices?

If you encounter any unlawful payday lending practices or believe you have been targeted by predatory lenders, it's essential to report these issues. You can report them to the Massachusetts Division of Banks. Your report can contribute to investigations and efforts to curb predatory lending practices in the state, protecting other consumers from similar experiences. Your actions can make a difference in promoting fair and responsible lending practices in Massachusetts.

Massachusetts Personal Loans Near Me

Abington Acton Acushnet Adams Agawam Allston Amesbury Amherst Andover Arlington Ashburnham Ashfield Ashland Assonet Athol Attleboro Auburn Auburndale Avon Ayer Baldwinville Barnstable Barre Beach Bedford Belchertown Bellingham Belmont Berkley Berlin Beverly Billerica Blackstone Bolton Boston Bourne Boxborough Boxford Boylston Bradford Braintree Brant Rock Brewster Bridgewater Brighton Brimfield Brockton Brookfield Brookline Burlington Buzzards Bay Cambridge Canton Carlisle Carver Cataumet Centerville Charlestown Charlton Chatham Chelmsford Chelsea Chestnut Hill Chicopee Chilmark Clinton Cohasset Concord Dalton Danvers Dartmouth Dedham Dennis Dennis Port Devens Dighton Dorchester Dorchester Center Douglas Dracut Dudley Duxbury East Bridgewater East Brookfield East Dennis East Falmouth East Freetown East Longmeadow East Otis East Sandwich East Walpole East Wareham Easthampton Easton Edgartown Essex Everett Fairhaven Fall River Falmouth Feeding Hills Fiskdale Fitchburg Florence Foxborough Framingham Franklin Gardner Georgetown Gloucester Grafton Granby Great Barrington Greenfield Groton Groveland Hadley Halifax Hamilton Hampden Hanover Hanscom Afb Hanson Harwich Harwich Port Haverhill Hills Hingham Holbrook Holden Holliston Holyoke Hopedale Hopkinton Hubbardston Hudson Huntington Hyannis Hyde Park Indian Orchard Ipswich Jamaica Plain Kingston Lakeville Lancaster Lanesborough Lawrence Lee Leeds Leicester Lenox Leominster Lexington Lincoln Littleton Longmeadow Lowell Ludlow Lunenburg Lynn Lynnfield Malden Manchester by the sea Mansfield Marblehead Marion Marlborough Marshfield Marstons Mills Mashpee Mattapan Mattapoisett Maynard Medfield Medford Medway Melrose Mendon Merrimac Methuen Middleborough Middleton Milford Millbury Millis Milton Mission Hill Monson Montague Nahant Nantucket Natick Needham Needham Heights New Bedford New Braintree Newbury Newburyport Newton Newton Centre Newton Highlands Newton Lower Falls Newton Upper Falls Newtonville Nonantum Norfolk North Adams North Andover North Attleborough North Billerica North Brookfield North Chatham North Chelmsford North Dartmouth North Dighton North Eastham North Easton North Falmouth North Grafton North Reading North Truro North Waltham North Weymouth Northampton Northborough Northbridge Norton Norwell Norwood Oak Bluffs Orange Orleans Osterville Otis Oxford Palmer Paxton Peabody Pembroke Pepperell Pittsfield Plainville Plymouth Plympton Pocasset Princeton Provincetown Quincy Randolph Raynham Reading Rehoboth Revere Richmond River Rockland Rockport Roslindale Rowley Roxbury Russell Rutland Sagamore Beach Salem Salisbury Sandwich Saugus Scituate Seekonk Sharon Shelburne Falls Sherborn Shirley Shrewsbury Somerset Somerville South Dartmouth South Deerfield South Dennis South Easton South Egremont South Grafton South Hadley South Hamilton South Yarmouth Southampton Southborough Southbridge Southwick Spencer Springfield Sterling Stoneham Stoughton Stow Sturbridge Sudbury Sunderland Sutton Swampscott Swansea Taunton Teaticket Tewksbury Three Rivers Topsfield Townsend Truro Turners Falls Tyngsborough Upton Uxbridge Vineyard Haven Waban Wakefield Walpole Waltham Ware Wareham Watertown Wayland Webster Wellesley Wellesley Hills Wellfleet Wenham West Barnstable West Boylston West Bridgewater West Brookfield West Chatham West Dennis West Newbury West Newton West Roxbury West Springfield West Stockbridge West Tisbury West Wareham West Yarmouth Westborough Westfield Westford Westminster Weston Westport Westwood Weymouth Whately Whitinsville Whitman Wilbraham Williamsburg Williamstown Wilmington Winchendon Winchester Winthrop Woburn Woods Hole Worcester Wrentham Yarmouth Yarmouth Port