A payday loan can seem like a lifeline when you have less-than-perfect credit and you're looking to borrow a small amount of money, but if you're a resident of the capital, you won't be able to borrow. Read our guide to learn about your alternative options.
No. Payday loans aren’t legal in Washington, DC under the Amended District of Columbia Code Section 28-3301. The capital caps interest at 24%, which is far lower than the interest charged by payday lenders in other parts of the US. Although they aren’t specifically banned, payday lenders choose not to offer loans because of the cap on interest.
While high interest payday lending is illegal in DC you can think about getting credit in other ways. Three options include:
You have other options to consider if borrowing money from a creditor doesn’t work out for you. These include:
Explore your other alternatives here
Due to the high cost of payday loans, lawmakers in DC have decided to prevent lenders from offering them to residents of Washington, DC. Many consumer advocate groups consider payday loans to be predatory with interest rates designed to keep people in debt.
Because of this, you won’t be able to get a payday loan in the capital.
If you’d like to visit a physical store for a cash advance, here are some options:
Can I get a loan in a different state?
If you’re a resident of DC, you won’t be able to get a payday loan even if you’re visiting a different state.
I’ve noticed that some online lenders from other states offer payday loans in Washington, DC. Are they legal?
No, they’re not. Out-of-state lenders can’t provide payday loans in Washington, DC.
Who can I contact to file a complaint about cash advance providers in DC?
You should direct all complaints surrounding cash advances in the District of Columbia to the Department of Insurance, Securities and Banking.
Can I get an auto title loan in Washington, DC?
No, you can’t. Due to the high interest rates and the frequency of borrowers defaulting on their loans, title loans are illegal in Washington, DC.
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Learn the rules and regulations of payday loans in this Southern town.
You can take out an installment loan from Spotloan and pay it back over time. Up to $800 is available and you can apply in minutes. See if you’re eligible.
If you have bad credit and need cash fast, consider Speedy Cash for your next payday or installment loan.
Is Infinity loans of Washington DC a scam?
Hi there,
Thanks for leaving a question on finder.
Unfortunately, we do not have any information about Infinity Loans on finder. You can instead look up their company name to look up reviews so you can weigh your options in getting a loan. If you live in Washington, the lenders above may be able to help you as long as you qualify for the eligibility requirements.
Please send me a message if you need anything else. :)
Cheers,
Joel