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Payday loan laws for Louisiana

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Hi Does anyone know the loan laws for Louisiana?


Debt Samaritan
Posts: 17220
Credits: 474736.53869987

Sub: #1 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.

Steve Barris
Posts: 1049
Credits: 19803.25

Sub: #2 PDLs (online/internet) are
Sun, 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.


Sub: #3 Check out this page, I hope
Mon, 04/22/2013 - 23:25

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


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Posts: 15508
Credits: 135761.15272958

Sub: #4 steve steve
Tue, 04/23/2013 - 05:32

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


Posts: 1889
Credits: 28808.676946382

Sub: #5 Please still register with
Tue, 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


Sub: #6 Pay Day Loans in Louisiana
Tue, 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.

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