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Payday lenders are able to stay in business because there is a market demand for payday loans.

Payday loans are illegal in only 13 states, leaving plenty of other states free to lend. Now that payday loans are easily available online, more and more people are looking toward payday loans for financial assistance when they need it most.

If people need to borrow money, they will do so. The moment people stop needing to borrow money, which will be never, will be the moment payday lenders will be unable to stay in business.

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Q: How are payday lenders able to stay in business?
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It is illegal for lenders to offer payday loans in Maryland due to the exceedingly high interest rates. If you have taken out an online payday loan perhaps, it was not illegal for you to do so. They should not have offered you a payday loan in Maryland. My advice, stay away from payday lenders! Many will still give you an internet payday loan, and when you miss your payment, they will harass you to no end. They don't care that you live in Maryland, as chances are no one will be able to track them down anyway. Many of these internet lenders aren't even operating in the US.


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