Debtconsolidationcare: Internet's first get-out-of-debt community
545,413 members

Internet's first get-out-of-debt community 545,413 members

Debt Consolidation Forums Payday Loan help

Payday loan laws for Louisiana


Sub: Payday loan laws for Louisiana
Fri, 19/04/2013 13:24

Hi Does anyone know the loan laws for Louisiana?

Article Rating: 

Sub: #1 Pay Day Loans in LouisianaTue, 05/14/2013 - 11:56

What I do know is that our state SUCKS on their definition of what is legal or not legal; however, with that being said, if you make any effort at all to pay any LEGAL portion back, you are good. Even if the store says I need a bigger payment. Do what I did. Those I wanted to pay back, I mailed in money orders (the .89 kind), so that they in no way had my information, Kept my receipts, just in case. BUT honestly, as long as you have repaid the actual loan amount, no way of collecting more.


Posts: 1825
Credits: 28683.971096269

Sub: #2 Please still register withTue, 04/23/2013 - 06:25

Please still register with the forums!

Here is the payday loan law info:

Louisiana Payday Loan Laws

State Legal Status

Lending of payday loan is considered legal in the State of Louisiana.

also: “According to the Office of Financial Institutions, Secretary of State, and Attorney Generals Office, online lenders do not have to be licensed unless they have a presence in the state and they do not have to abide by state laws pertaining to payday loans.”

Loan Specifications

Maximun Amount of Loan - $350

Term of Loan - 60 days

Maximum Rate of Finance and Fees - Documentation fee of $5 + $45 or 16.75% of check (whichever is greater); You have to pay 36% p.a if your default period is anything between 1 to 12 months or 18% p.a if default period is beyond 13 months)

Finance Charge on $100 loan for a 14 day period - $25

APR for $100 loan for a 14 day period - 650%

Debt Limits

Maximum Number of outstanding loans permitted at a time - Not Specified

Permissible number of Rollovers - None (Cannot rollover or renew. But the licensee can accept 25% of the total advanced amount to the debtor as partial payment along with the fees and then can enter into a new loan.)

Limits of Collection

Collection Fees Amount - 1 NSF fee amounting to actual bank charge (only if disclosed) + greater of 5% or $25 (only if disclosed) + costs of court + fees of a reasonable attorney

Criminal Action - Prohibited

File your Complaint and get Information

Regulator - Louisiana Office of Financial Institutions

Address - P.O. Box 94095 Baton Rouge LA 70804

Phone - (225) 925-4660

Fax - (225) 925-4548

Regulatory Contact - John J. Braud, Deputy Chief Examiner

USA Payday Loan Laws
How to deal with illegal lenders, step by step instructions, courtesy of OhioGal
How to write a proper debt validation request, courtesy of SOAPLADY
How to deal with a Collection agency contacting you for PDLs, courtesy of Waffles


Posts: 15404
Credits: 130719.7707503

Sub: #3 steve steveTue, 04/23/2013 - 05:32

since delaware is within the US how are they not legal?your post makes no sense.

giving hope to the hopeless,help to the helpless,and hap to the hapless.


Sub: #4 Check out this page, I hopeMon, 04/22/2013 - 23:25

Check out this page, I hope it will help you a lot:


< br />

Steve Barris
Steve Barris
Posts: 1047
Credits: 17639.25

Sub: #5 PDLs (online/internet) areSun, 04/21/2013 - 21:52

PDLs (online/internet) are legal in Louisiana as long as the lender is licensed within any state in the US. This does not include tribal lenders and shady dealers from Delaware.


Debt Samaritan
Posts: 17131
Credits: 417549.9531469

Sub: #6 Register with the forums....Fri, 04/19/2013 - 14:39

Register with the forums....

What part of the law do you want? You can search the forum. Payday loans are legal.

How to Deal with Illegal Loans..OhioGal's Primer
PDL's are ILLEGAL in the following states...
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states

Add new comment


  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Enter the characters shown in the image.
Share post

Page loaded in 9.478 seconds.