Do not get it done, 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 rates of interest to customers in Maryland as well as other states. This just four months after Virginia loan providers had been prohibited from making loans that are such of state.
Car-title loans, which enable you to borrow secured on the worthiness of one's automobile, are such bad discounts that a lot more than 1 / 2 of the states, including Maryland, fundamentally do not allow them.
Yet customer defenses are merely since strong as the weakest rules in neighboring states. Regardless of if one state bans the loans, its residents can drive throughout the continuing state line and borrow at whatever loan terms are permitted here. Read more