Debt Consolidation Forums Payday Loan help forums

Payday Loan Laws for Each State

member profile picture
Posts: 5254
Credits: 68514.79
[Donate]

Alabama Payday Loans

Legal Status: Legal (AL license required)


Maximum Loan Amount: $500
Loan Term: 10-31 days
Maximum Finance Rate and Fees 17.50% for initial loan; 3% per month after default
APR for 14-day $100 loan: 456.25%
Maximum Number of Outstanding Loans at One Time: No limit but max loan amount is $500.

Rollovers Permitted: One
Cooling-off Period: Next business day after 2 continuous loans repaid
Repayment Plan Required? Yes

Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check
Criminal Action: Prohibited (Unless check returned due to closed account)

Still have questions or need assistance? Contact:
Alabama Banking Department
P.O. Box 4600
Montgomery AL 36103
Phone: 334-242-3452
Fax: (334) 353-5961




is it possible for a payday loan to offer no interest?

Sub: #1 posted on Wed, 01/27/2016 - 16:56

fresvinog fresvinog

(Posts: 2 | Credits: 0.68)

Does anyone here know a payday loans that offers no interest?

Sub: #2 posted on Wed, 01/20/2016 - 18:02

leeja021894 leeja021894

(Posts: 8 | Credits: 0.6)

Answer my own question.... Searched and saw their site....

Sub: #3 posted on Wed, 01/20/2016 - 18:00

leeja021894 leeja021894

(Posts: 8 | Credits: 0.6)

Does anyone here know more details about Swoosh Finance in Australia? Specifically in services and payments...

Sub: #4 posted on Tue, 01/19/2016 - 16:52

leeja021894 leeja021894

(Posts: 8 | Credits: 0.6)

YES! Swoosh Finance offers a loan without interest

Sub: #5 posted on Fri, 02/05/2016 - 16:02

leeja021894 leeja021894

(Posts: 8 | Credits: 0.6)

Alaska Payday Loans

Legal Status: Legal (AK license required)

Laws: Alaska Statute 06.50.010 et seq.

Maximum Loan Amount: $500
Loan Term: Minimum of 14 days
Maximum Finance Rate and Fees $5 + the lesser of $15 per $100 or 15%
APR for 14-day $100 loan: 520%
Maximum Number of Outstanding Loans at One Time: No rule

Rollovers Permitted: Two renewals
Repayment Plan Required? Yes

Collection Fees: One $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement)
Criminal Action: Prohibited (Unless check returned due to closed account)

Still have questions or need assistance? Contact:
Alaska Division of Banking and Securities
P.O. Box 110807
Juneau AK 99811
Phone: 888-925-2521
Fax: 907-465-2549

A laska License Lookup

Sub: #6 posted on Mon, 02/27/2012 - 21:24

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5254 | Credits: 830.46)

Arizona Payday Loans

Legal Status: Prohibited

Laws: Consumer Lenders Act applies. Ariz. Rev. Stat. 6-632

Small Loan Rate Cap: 36% per year plus 5% fee

Still have questions or need assistance? Contact:
Arizona Department of Financial Institutions
Financial Enterprises Division
2910 N. 44th Street, Suite 310
Phoenix AZ 85018
Phone: 800-544-0708
Fax: 602-381-1225

Sub: #7 posted on Mon, 02/27/2012 - 21:44

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5254 | Credits: 830.46)

Arkansas Payday Loans

Legal Status: Prohibited

Laws: Usury provision of Arkansas Constitution art. 19, 13
Former regulation: Ark. Code Ann. 23-52-101 repealed in 2011

Small Loan Rate Cap: 17% per year set by ballot in 2010

Still have questions or need additional info? Contact:
Office of the Attorney General
323 Center Street, Suite 200
Little Rock, Arkansas 72201
Phone: 501-682-2007 or 800-482-8982

Sub: #8 posted on Mon, 02/27/2012 - 23:21

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5254 | Credits: 830.46)

California Payday Loans

Legal Status: Legal (must be licensed in CA)

Laws: Cal. Fin. Code 23000 to 23106

Maximum Loan Amount: $300
Loan Term: Maximum of 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%

Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Fees: $15 NSF fee
Criminal Action: Prohibited

Still have questions or need assistance? Contact:

Financial Services Division
1515 K Street, Suite 200
Sacramento CA 95814
Phone: 866-275-2677

Sub: #9 posted on Mon, 02/27/2012 - 23:32

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5254 | Credits: 830.46)

Colorado State Information

Legal Status: Legal (must be licensed in CO)

Laws: Colo. Rev. Stat. 5-3.1-101 et seq.

Maximum Loan Amount: $500
Loan Term: Minimum 6 Months
Maximum Finance Rate and Fees: 20%: $0-$300 + 7.5%: $301-$500 plus 45% per annum interest plus monthly maintenance fee $7.50 per $100 borrowed, up to $30, after first month.
Finance Charge for 14-day $100 loan: Not applicable
APR for 14-day $100 loan: Not applicable

Maximum Number of Outstanding Loans at One Time: No limit if total debt does not exceed $500 and 30-days between loans
Rollovers Permitted: Renewals OK at 45% interest

Collection Fees: One $25 NSF fee; court costs; reasonable attorney's fees not to exceed loan amount
Criminal Action: Prohibited (Unless the consumer's account was closed before the agreed upon negotiation date)

Still have questions or need assistance? Contact:
Colorado Office of the Attorney General
Uniform Consumer Credit Code
1525 Sherman St., 5th Fl.
Denver CO 80203
Phone: 303-866-4494
Fax: 303-866-5691

Colorado License Lookup

Sub: #10 posted on Mon, 02/27/2012 - 23:53

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5254 | Credits: 830.46)

Attachment
More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Post as a member

Share post

Page loaded in 0.274 seconds.