Delaware payday loan laws overview

The unemployment rate in Delaware stood at 5.1% in 2015. Today, more and more residents of the state are turning to payday loans when they need financial assistance. Delaware payday loans laws have gone though a few changes through the years.

Delaware was discovered in 1609 by Dutch sailor Henry Hudson. In 1664, England took over the region and in 1704, in the American Revolution, Delaware fought as an independent state. In 1787, it became the first state to ratify the Constitution. Even though it was a slave state, Delaware did not secede from the Union in the Civil War.  

Delaware is known for its huge chemical industry. The state manufactures medical supplies, vulcanized fiber, paper, textiles, metal products, machine tools, machinery and automobiles. Delaware is also a pioneer in the US food-canning industry, producing soybeans, corn, potatoes and other important crops. The state also  supplies the big Eastern markets with fish and dairy products.

Delaware is the second smallest state in the United States and it is the 6th least populous state in the country with a population of close to 945,934.

What is a payday loan?

A payday loan is a short-term loan and is also called a cash advance. The loan is given for a short period of time and must be repaid by the time the  borrower receives his next paycheck.

Delaware payday loans laws regulations

Delaware payday loans laws

Delaware payday loans laws

As of today, payday loans in Delaware are legal according to Del. Code Ann. tit. 5 § 2227 et seq. Under the small loan act and licensing law, payday loan lenders are considered legal businesses in Delaware.

In Delaware, borrowers are required to provide a thumbprint along with their actual signature when signing a loan contract. The reason behind the introduction of this requirement was to protect its residents from dishonest payday loan lenders. That measure proved to be very effective as it reduced the number of fraud cases rates by 60%. The thumbprint is required from borrowers with any type of loan application – whether it is applied via the phone, in person or online. In Delaware, you are not allowed to get a loan if you have already exceeded the limit of 5 short-term loans in the last 12 months. In Delaware, there is a minimum repayment term of 60 days and lending companies cannot require the repayment to be made before that. Borrowers in Delaware are allowed up to 4 rollovers on each loan they have taken out. Another option is taking title loans in Delaware. 

Payday loans in Delaware fees and charges

Delaware payday loans laws are pretty different from other states when it comes to APR, fees and charges. There are no exact limitation a lending company should follow. That way, they can decide how much to charge their clients and in what form.

Lending companies can require interest to be paid at a daily, weekly, monthly or annual percentage rate. There is no limit to how much a lending company can charge you. All terms and conditions must be agreed with the borrower, which makes every lending contract unique. The maximum loan amount a borrower can take out in Delaware is $500 and a borrower is not allowed to take out another loan before he repays his current one.

Why taking out a payday loan in Delaware may work in your favor?

Taking out a payday loan can have a positive effect on your financial stability as it comes with lots of benefits:

  • Bad credit is not an issue

Get your money fast

Get your money fast

While traditional banks will most likely crush your hopes of getting financial assistance if your credit score is bad, with payday loans, having bad credit can cannot stop you from getting the money you need. This makes the service a first choice for many borrowers who do not have a good credit rating.

  • Get your money fast

The service of payday loans is extremely fast as you get hold of your money within a few hours after your application. If you decide to apply for your loan online, it can take up to one business day for you to get your cash.

  • More than one option

If you want to apply for a payday loan and you are looking for a payday lender’s store near your home or your workplace but you can’t find one, you actually have the option to submit your application online. So whether you want to visit an on-ground store or submit your application online from the comfort of your home is entirely up to you.

Application requirements for a payday loan in Delaware

Application requirements for a payday loan

Application requirements for a payday loan

As mentioned above, payday loans are a fast and simple service. While payday loan lending companies do not require much documents to give you a loan, there are still some requirements you have to meet:

  • You must be at least 18 years old to apply for a payday day
  • You need to have an American citizenship or be a permanent resident of the United States
  • You need to have a steady stream of monthly income

To complete your application successfully, you should provide more information such as:

  • Your social security number, name, and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Delaware where you can find payday loan lenders:

  • Laurel
  • Bridgeville
  • Claymont
  • Smyrna
  • Delmar
  • Milford
  • Dover
  • Georgetown
  • Harrington
  • Lewes
  • Millsboro
  • New Castle
  • Milton
  • Bear
  • Newark
  • Rehoboth Beach
  • Seaford
  • Selbyville
  • Wilmington

 

Alabama payday loan laws

The payday loan industry is gaining popularity in recent years as many US citizens see it as a first choice when it comes to taking out a loan. The residents of Alabama are also highly interested in what the service has to offer. Alabama payday loans laws are explained below.

In 1763, the British took control of the area that we call Alabama  today. However, after the American Revolution, they had to give almost all the area to Spain and the US. In the 1950s and 1960s, the state of Alabama was the site of civil-right landmark actions such as the “Freedom March” from Selma to Montgomery and the bus boycott in Montgomery.

Nowadays, the economy of Alabama is based mainly on manufacturing paper, chemicals, apparel and textiles, rubber and plastics, automobile manufacturing and primary metals. Alabama is also a major producer of coal, steel and iron.

Alabama is the 30th largest state in the United States and it is 24th most populous with a population of over 4,858,979.

Payday loans explanation

payday loan is a short-term loan

payday loan is a short-term loan

Normally, a payday loan is a short-term loan which the borrower has to pay back in full when he receives his next paycheck. Payday loans are also referred to as cash advances.

Alabama payday loan laws regulations

In 1999, Alabama was among the 19 states that were involved in legislating small loans. In 2002, however, most measures were scraped and today payday loan lenders are able to run their businesses without any trouble in Alabama. The number of payday loan lending companies in Alabama exceeds 1000 and is growing with each passing year.

According to Alabama payday loan laws, a borrower is allowed no more than one payday loan at any one time at a given location. If the borrower is not able to repay the loan on time, he is allowed one rollover. Another thing that makes Alabama payday loan laws different from other states is that even though payday loan lending is absolutely legal, the only companies that are allowed to give payday loans are the check cashing companies.

Alabama payday loans laws regulations

Alabama payday loans laws regulations

Alabama payday loans charges and fees

Here is what you should know if you are thinking of applying for a payday loan in Alabama:

Loan Terms

  • The maximum loan amount in Alabama is $500
  • The loan period of any payday loan given in Alabama must be between 10 and 31 days
  • The maximum finance rate and fees in Alabama cannot exceed 17.50% and 3% a month after a default
  • The maximum finance charge for a two-week $100 loan in Alabama is $17.50
  • The maximum annual percentage rate for a two-week $100 loan in Alabama is 456.25%

Debt Limits

  • Borrowers are allowed one rollover
  • The length of the “cooling-off period” in Alabama is the next business day after repayment of 2 continuous loans

Collection Fees

Debt Limits

Debt Limits

Payday loan lending companies in Alabama can charge one NSF fee of $30 in case there is no money in your linked account or if a payment fails. Fees for an attorney can go up to 15% of the check amount.

Criminal Action

In Alabama, lending companies do not have the right to threaten you with any criminal action unless a check is returned in case of a closed account.

Payday loans eligibility and application requirements in Alabama

It is hard to imagine a more simple loan service than Alabama payday loans. However, you still need to meet certain criteria to get a payday loan:

  • You have to be at least 18 years old
  • You are a permanent resident of the US or an American citizen
  • It is obligatory that you have a steady source of income

To successfully complete your application, you will have to prepare the following information:

  • Your social security number, name and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Alabama where you can find payday loan lenders:

  • Aliceville
  • Alabaster
  • Birmingham
  • Albertville
  • Alex City
  • Opelika
  • Alexandria
  • Andalusia
  • Anniston
  • Tuscaloosa
  • Arab
  • Athens
  • Carbon Hill
  • Atmore
  • Attalla
  • Phenix City
  • Auburn
  • Bay Minette
  • Bayou La Batre
  • Bessemer
  • Brewton
  • Enterprise
  • Bridgeport
  • Bryant
  • Butler
  • Centre
  • Decatur
  • Dothan
  • Florence
  • Gadsden
  • Huntsville
  • Madison
  • Alexander City
  • Mobile
  • Montgomery
  • Northport
  • Prattville
  • Boaz
  • Prichard
  • Selma

 

Florida payday loan laws overview

There is one type of short-term loans that attracts the attention of almost every resident of Florida looking for a quick cash solution and these are Florida payday loans.

The state of Florida was first discovered by Ponce de Leon while searching for the so-called “Fountain of Youth. He gave Florida its name and claimed it for Spain. Through the years, Florida was ruled by England and Spain until 1819 when Spain sold it to the US.

The economy of Florida is based mainly on manufacturing, tourism and agriculture. Florida’s agriculture includes the production of grapefruits, oranges, melons, potatoes, peanuts, sugar cane, dairy products and others. The manufacturing sector is led by transportation equipment, electronics, food processing and others.

Florida has the 4th largest economy in the US with a GDP of $748 billion. It is the 22nd largest state in the United States and the third most populous with a population of more than 20,271,272.

First off, what is a payday loan?

Florida payday loan laws regulations

Florida payday loan laws regulations

Payday loans are advanced payments on a post-dated check that you have to provide to your lender. The lending company gives the loan which you have to repay (plus interest and fees) when you receive your next paycheck. The lender cannot deposit your check before the agreed time. It is important to pay attention to what the fees and charges are so you can manage the repayment easily.

Florida payday loans laws regulations

In Florida, payday loan lending is considered legal according to Rule 69V-560.901-912 and the Fl. Stat. Ann. § 560.401 et seq. All payday loan lending companies must operate under these laws. In Florida, lenders are not allowed to give out loans exceeding $500 each. Other limitation states that a borrower cannot have more than 1 outstanding loan at the same time. The duration of the loan can vary from 7 to 31 days.

Florida payday loan fees and charges

Florida payday loans fees and charges

Florida payday loans fees and charges

Before you make a decision on whether you should apply for a payday loan in Florida or not, here are some things you should know:

  • Charges, fees and APR

  • Payday loan lending companies are allowed to charge a maximum of 10% fee. However, depending on the size of the loan, they may also charge a verification fee.
  • The annual percentage rate for a 14-day $100 loan in Florida cannot exceed 390%
  • Finance charge for a 14-day payday loan for the amount of $100 cannot be more than 15%.
  • Collection

You will need to pay any charges that the financial institutions may impose on your lender.

  • Rollovers

According to Florida payday loan laws, rollovers are not allowed.

Why consider a payday loan in Florida?

Why consider a payday loan in Florida?

Why consider a payday loan in Florida?

  • It’s easy to apply for one

In Florida, you can find payday loan lender stores both online and on the ground. It’s up to you to decide which option works best for you.

  • It’s a very quick service

If you decide to apply for a payday loan at a physical store, you will get your money within minutes once you are approved. If you choose to apply online, it may take up to one day for you to get your money.

  • Poor credit is ok

Compared to traditional lending institutions, Florida payday loans lenders have a lot less criteria for you to meet in order to give out a loan. Having a bad credit can really hurt your chances of getting a loan with most banks, with payday loans, it will have little to no effect on your chances of getting approved for one. What payday loan companies are interested in is your ability to repay the money by your next paycheck.

  • Use the loan amount for any purpose

With payday loans, once you get your money, you can basically do whatever you want with it. You can may use the payday loan to fix your car, settle home reno bills or medical bills.

Payday loans application and eligibility in Florida

eligibility in Florida

eligibility in Florida

You will still need to meet certain criteria for you to get your payday loan in Florida:

  • The minimum eligibility age for a payday loan in Florida is 18 years old
  • You need to be an American citizen or a permanent resident of the US
  • You also should have a steady source of income

To complete your application, you will need to provide other information such as:

  • Your social security number, name, and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Florida where you can find payday loan lenders:

  • Lauderhill
  • Boca Raton
  • Miami
  • Boynton Beach
  • Brandon
  • Jacksonville
  • Cape Coral
  • Deltona
  • Clearwater
  • Melbourne
  • Coral Springs
  • Daytona Beach
  • Lakeland
  • Deerfield Beach
  • Delray Beach
  • Davie
  • Fort Lauderdale
  • Fort Myers
  • Gainesville
  • Hialeah
  • North Miami
  • Hollywood
  • Kissimmee
  • Largo
  • Margate
  • Miami Beach
  • Miramar
  • Palm Bay
  • Palm Harbor
  • Tallahassee
  • Pembroke Pines
  • Plantation
  • Pompano Beach
  • Spring Hill
  • Orlando
  • Sunrise
  • Tamarac
  • Weston
  • Tampa
  • West Palm Beach

 

What are Online Payday Loans with No Credit Check?

Online Payday Loans No Credit Check

Online Payday Loans No Credit Check

Online payday loans with no credit check are short-term loans. When the lender approves the loan, the money is deposited into the checking account of the borrower within 24 hours. Payday loans with no credit check are highly efficient and they are effective in solving financial difficulties arising from unexpected events. Normally, the loan does not involve a lot of paperwork and the processing time is short. Conventional loans will require you to submit a chunk of documents to backup your loan application. In essence, these financial institutions will require you to give collateral for the loan. This will allow them to recover the loan in case you are unable to repay it within the stipulated time.

Bad credit score is the main reason why many people shy away from conventional lending institutions.  However, with online payday loans with no credit check, you do not have to give collateral or wait for weeks for your loan to be approved. Payday loans are taken to cushion the borrower from unexpected bills before he receives his next paycheck.

Different short-term payday loans have different level of risks associated with them. Payday loans with no credit check is a substitute for direct lender loans. In a regular payday loan, the client borrows money that he has to repay by the next payday. Many people view this as a restriction because you cannot borrow more than your income. However, if the borrower decides to borrow an amount that is equal to his income, then he will not have sufficient moneys to sustain himself through the month and this result in a cycle of loans. Financial experts recommend that you go for online payday loans with no credit check. However, you should avoid living in a debt cycle.

Why Choose Online Payday Loans No Credit Check

  • Confidentiality

financial information of borrower is kept confidential

financial information of borrower is kept confidential

The online lending system does not involve a visit to the loan shop. Many people want to avoid embarrassment of being seen in loan shops. Online payday loans have become a savior to many. Direct lending companies take clients seriously and the privacy of the financial information offered by the borrower is kept confidential. Unlike brokers who match you with lending institutions, your information is auctioned to the highest bidder for them to make money. Once you have established a solid rapport with your lending company, you should assess how you can improve your credit rating by repaying the loan on time. All your private information is kept safe and unauthorized persons will not be able to access your credit history or other financial information.

  • Flexible and Consistent

Online payday loan with no credit check is the best solution that the borrower can access instant cash to deal with his financial obligations. The application process is usually fast and efficient. Within minutes, you would have finished your application and the money is deposited into your account.

  • Fast

Conventional loan systems usually take a considerable amount of time before the loans are approved. However, for online payday loan with no credit check, once you have made an application, your application will be reviewed and you will get a response in less than 24 hours. Once your application has been reviewed, depending on your repayment history and current income, you will qualify for a loan. The amount is deposited into your checking account and you can access the money as soon as it is deposited. Loan systems require borrowers to backup their financial information by providing history and collateral in title deeds and other attachable documents. The collateral is meant to cushion the bank against losing their money in case you default the loan. Banks will take up to 14 days before approving a loan. However, for the payday loan with no credit check, once your loan has been approved, you will have the money deposited into your account. You should conduct thorough research to find the right lending company.

Advantages of Online Payday Loan with No Credit Checks

Advantages of Online Payday Loan with No Credit Checks

Advantages of Online Payday Loan with No Credit Checks

There are many benefits associated with online payday loans with no credit checks. It is paramount that you understand your lender well before you select the loan type. Reliability and credibility are the two most essential aspects to take note of. A reliable and credible lender will solve your financial crisis immediately. Benefits of using online payday lenders include:

  • Versatility

When you are looking for a company to give you an instant loan, it is imperative that you find out about the trustworthiness of the site. Transparency is essential. The lender should give you all the information you need to know. Hidden fees and extra charges are common ways that unscrupulous lenders increase the cost of the loan. Versatility of payday loans makes it one of the most sought after loans online. You can apply for the loan at the comfort of your couch and have it processed within a day. You should ensure that the lender offers you a comprehensive review on terms, condition and charges.

  • Good Support Services

Customer support is the most crucial part during the application process. A reputable payday lending firm will have an excellent customer service  team. A good customer support service team will help you understand all the features of the loan. You can ask the support team any questions you may have regarding certain issues about the loan. It is recommended that you contact the customer support services directly and understand all the details of the loan.

  • Timely Application and Processing

Online payday loans with no credit check are easy to apply and the processing time is usually short compared to other types of loans. Familiarize yourself with the application process and ask questions. Seeking clarification from the customer support service team is essential because it gives you an opportunity to understand all the information before you sign the loan documents.

Lenders of no check payday loan does not consider what happened financially in the past and you can access the loan even with bad credit score. The process is not based on your previous financial history but on the current financial situation, regular monthly income and the borrower’s ability to repay the loan within the stipulated period.

Bad Credit Payday Loan: Is It Worth It?

Bad Credit Payday Loan

Bad Credit Payday Loan

It is important that you check how the company handles its loans. Some firms do not offer roll over on loans. When you fail to pay your loan on time, a professional team will handle your situation and find an amicable solution that will help you get the best repayment possible. Bad credit score can limit the borrower’s financing sources. The priority of the lender should be to fulfill the borrower’s expectations by providing affordable loans. Usually short-term loans attract high interests. Therefore, you should know the rates offered and there should be no surprise charges during the repayment period.

With a credible lender, you can log into your personal profile and check your balance as well as recent payments and transactions. This is the easiest way that you can monitor your progress on the loan. Good credit is not a requirement in online payday loans with no credit check. Which means that the borrower will know his financial status within a short period. With online borrowing systems, you can make your application with online loan forms. The support team then assesses the application forms before giving the borrower a loan. You may get your loan  within minutes.

Hawaii payday loan laws overview

Hawaii payday loans industry in Hawaii is growing strong as this is the preferred type of short-term loan for most Hawaiian borrowers. So if you are a resident of Hawaii and you are looking for a payday loan, here is what you need to know.

Throughout most of the 19th century, the state of Hawaii was a native kingdom. In the year 1893, Queen Liliuokalani was ousted from position and the Republic of Hawaii was established a year after that with Sanford B. Dole as its first president. In 1900, Hawaii became a United States territory.

Hawaii produces products like coffee beans, macadamia nuts and bananas, However, what brings the most income for Hawaii is its tourism. Among the most visited tourist destinations in Hawaii are Volcanoes National Park of Hawaii and Hawaii National Historical Park.

Hawaii is the 8th smallest state in the United States and it is the 11th least populated with a population of no more than 1,431,603 residents.

Hawaii payday loan laws regulations

Hawaii payday loans laws regulations

Hawaii payday loans laws regulations

The payday loan lending in Hawaii is legal and payday loan lenders operate under the 26 Hawaii Rev. Stat. Ann. § 480F-1 et seq law, which regulates all payday loan lending issues. According to Hawaii payday loan laws, lending companies are not allowed to grant loans to people who already have an outstanding loan. This means that borrowers cannot repay their current loan by taking a new one. It is important to note that in order for any payday loan lending company to be able to legally conduct its loan lending business in Hawaii, it has to be in the form of check cashing transactions. Otherwise, it is considered illegal.

Charges and fees for a payday loan in Hawaii

  • According to Hawaii payday loans laws, lending companies can charge a maximum of 15% rate on the loans they are giving out.
  • A $100 14-day loan finance charge cannot surpass $17.65.
  • The annual percentage rate for a 14-day $100 payday loan cannot be more than 459%
  • The maximum loan amount a person can take out is $600 for a period not longer than 32 days.
  • There are no rollovers allowed, so all loans should be repaid on time.

Collection restrictions

  • Criminal procedures

Criminal procedures are forbidden (unless when a check is returned because of a closed account or in a stop-payment state)

  • Collection fees

Payday loan lenders in Hawaii are allowed to charge a fee of $20.

Hawaii payday loans benefits

Payday loans benefits in Hawaii

Payday loans benefits in Hawaii

Payday loans have a reputation of being risky. However, that risk is usually insignificant compared to the benefits a payday loan can offer.

  • Extremely fast service
  • The option to choose from online and physical store application
  • Bad credit rating is not a problem
  • The application process is quick and simple

Payday loans application and eligibility in Hawaii

Even though payday loan companies do not require a lot of documents when you apply for a payday loan, there are still some criteria you need to meet in order to be eligible for a payday loan in Hawaii:

  • To be at least 18 years old
  • To be a citizen of America or a permanent resident of the United States
  • To have steady monthly income

Also needed for a successful application is the following information:

  • Your social security number, name, and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Hawaii where you can find payday loan lenders:

  • Aiea
  • Hickam Afb
  • Hilo
  • Honolulu
  • Kailua
  • Kailua Kona
  • Kaneohe
  • Kapaa
  • Kihei
  • Lahaina
  • Lihue
  • Pearl City
  • Wahiawa
  • Wailuku
  • Waipahu

Hawaiian payday loan lenders

Most payday loan lending companies in Hawaii have both on-ground and online stores. It is up to you to choose which option works best for you. If you decide to apply for a payday loan online, you may get your money a little slower than a physical store application. But it still should not take more than one business day.

Indiana payday loan laws overview

Nowadays payday loans are gaining more and more popularity amongst borrowers and Indiana residents make no exception. Indiana payday loans are completely legal.

The state of Indiana is the 38th largest state in the US and it is 16th most populous with a population of over 6,619,680 residents. In 1679-1680, the French were the first Europeans to explore what we call the state of Indiana today. The region was quite important in the Franco-British struggle for North America that ended with a win for Britain in 1763. Lake Michigan waterfront is one of the greatest industrial centers in the world, turning out iron, oil and steel products. Other products include mobile homes, automobile parts and accessories, aircraft engines, farm machineries and many others. Pharmaceuticals and wood furniture are also manufactured in this state. Indiana is a leader in agriculture with corn, soybeans, oats, wheat, tomatoes, rye and onions contributing greatly to Indiana’s agricultural output.

Payday loans explanation

Basically, payday loans are short-term loans which the borrower has to pay back the amount of money he has taken out by his next paycheck.

Indiana payday loans laws regulations

Indiana payday loan laws regulations

Indiana payday loan laws regulations

According to Indiana Code Ann. § 24-4.5-7-101 et seq, payday loan lending in the state of Indiana is completely legal and lending companies can conduct their businesses. It is safe to say that Indiana payday loans laws are a little different compared to other state laws.  Lending companies are not allowed to give borrowers loans exceeding 20% of their monthly income. Even more so, lenders are forbidden to give loans that are more than $550, including all finance charges and fees. The purpose of these measures is to protect borrowers from unscrupulous lenders and prevent the borrower from sinking further into debt. This is also the reason why in the state of Indiana, borrowers are not allowed to take out more than two outstanding loans at one time. These loans should be taken out from different lending companies. According to Indiana payday loans laws, all payday loans should be repaid within 14 days.

Indiana payday loans companies

The loan lending industry is constantly growing and payday loans are probably the most popular loan type out there. In recent years, the number of payday loan lending companies in Indiana has increased. What is adding a lot to that growth is the online availability of payday loans. Today, if you are a resident of Indiana, you can either visit an on-ground lending store or submit your application online. Searches on the web regarding Indiana payday loans are amongst the most popular web searches in Indiana.

Payday loans benefits Indiana

Indiana Payday loans benefits

Indiana payday loans benefits Indiana

When taking out a loan, there is always a certain risk and with payday loans, the situation is no different. However, when you take out a payday loan, that risks comes with lots of benefits such as:

  • Choose from different options

Chances are that there would be a loan lending company’s office somewhere near your workplace or your home. However, you may want to submit your application online without having to leave the comfort of your home and with payday loans you can do just that. You have the freedom to choose whether you want to apply by going to a store or visiting a loan company’s website online.

  • You get your money fast

If you are thinking of taking out a loan, you are most likely in a situation where your finances are out of your control and you need to get that control back as soon as possible. When applying for a payday loan, you can start taking care of your bills just hours after you have submitted your application. If you want to apply online, it may take one business day for you to get your money.

  • Having bad credit is ok

Having bad credit is ok

Having bad credit is ok

Without a doubt, the fact that you can apply for a payday loan even if you have bad credit is one of the main reasons why payday loans dominate the short-term loan business industry.

  • What you do with the loan money is up to you

While you need to specify exactly what you intend to do with the money you are borrowing when you take out a loan from a traditional bank, with payday loans, as long as you don’t do anything illegal, you are pretty much free to do whatever you want with the money. You can use the money to pay immediate bills, repair your car – it is all up to you and lending companies have no say in it.

Payday loans charges and fees in the state of Indiana

Before you decide whether or not you should apply for a payday loan in Indiana, there are certain things you should know:

  • APR

The annual percentage rate for a two-week $100 payday loan in Indiana should not be more than 390%.

  • Fees and charges

Fees & charges

Fees & charges

In Indiana, loan lending companies are not allowed to charge more than 15% on a loan amount of $250 or below. The maximum charge for loans between $251 and $400 is 13% and the maximum charge on a $500 loan cannot be more than 10%.

  • Collection fees

In case of a failed payment, lending companies in Indiana may charge a one-time NSF fee of $25.

  • Rollovers

According to Indiana payday loan laws, rollovers in the state are forbidden. However, borrowers can have up to three extensions on their loans.

Payday loans eligibility in the state of Indiana

Payday loans eligibility

Payday loans eligibility

By now, you know that applying for a payday loan in Indiana is rather fast and simple. There are, however, some requirements you have to meet to be eligible for your loan:

  • 18 years old or older
  • Permanent resident of the US or an American citizen
  • You must have a steady source of income

In order to have a successful application, there is some information you need to provide:

  • Your social security number, name and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Indiana where you can find payday loan lenders:

  • Akron
  • Anderson
  • Angola
  • Bloomington
  • Carmel
  • Clarksville
  • Columbus
  • Crown Point
  • East Chicago
  • Elkhart
  • Evansville
  • Fort Wayne
  • Franklin
  • Gary
  • Goshen
  • Greenwood
  • Hammond
  • Highland
  • Hobart
  • Indianapolis
  • Jeffersonville
  • Kokomo
  • La Porte
  • Lafayette
  • Marion
  • Merrillville
  • Michigan City
  • Mishawaka
  • Muncie
  • Munster
  • New Albany
  • Noblesville
  • Plainfield
  • Portage
  • Richmond
  • Schererville
  • South Bend
  • Terre Haute
  • Valparaiso
  • West Lafayette

Alternatives to payday loans in the state of Indiana

Most borrowers may see payday loans as their best way of dealing with financial issues. However they are not the only way out. You can also try:

  • Asking a friend or family member to help you out;
  • You can try taking out a small loan from your bank;
  • You can ask your employer for a payment in advance
  • Or you can ask the creditor for more time to pay your bills

Minnesota payday loan laws overview

The state of Minnesota is an upper midwestern state and has a population of around 5,489,594. These days, payday loans are becoming more and more attractive to borrowers who are experiencing financial troublesEvery state in the US has its own regulations regarding payday loans, so if you are thinking of applying for one in the state of Minnesota, it is best that you know the Minnesota payday loans laws.

Minnesota payday loans regulations

Minnesota payday loans laws

Minnesota payday loans laws

Payday loan lending in the state of Minnesota is completely legal and lending companies can legally run their businesses according to Minn. Stat. § 47.60 et seq.

According to the states legislation, payday loan lenders can’t give out loans surpassing the amount of $350. Since payday loans are short-term loans by nature, the maximum payday loan period in Minnesota is 30 days. Minnesota payday loans laws strictly forbid lenders from harassing their clients, although that does not mean that lenders can’t file criminal charges against you if you fail to repay your loan. However, cases of filing criminal charges are really rare. With the payday loan lending industry growing more each year, the number of payday loan lending companies also increases. In the state of Minnesota, like in most states of the United States, you can apply for a payday loan by visiting a lender’s on-ground store or by just visiting one online. Research showed that payday loans are amongst the most popular online searches in Minnesota.

Why taking out a payday loan in Minnesota could help you

Payday loans are one of the most popular type of short-term loans. There are a few reasons why that is so:

  • They are faster than most other types of loans

When you are in trouble and you need immediate cash to take care of your bills, you can’t afford to wait for weeks to get it. With payday loans, you could get your money in just a few hours time or by the next business day if you’ve applied for your loan online.

  • They are everywhere

faster than most other types of loans

faster than most other types of loans

Fact is, you will probably find a payday lender’s store near your workplace or your home. You also have the option to apply for a payday loan online at any hour of the day.

  • You can use your money in any way you want

When you take out a loan from a traditional lending institutions, you are not really free to do whatever you want with your money as there are certain spending limitations stated in your loan contract. With payday loans, the money you get can be used for whatever you want as long as it is not something illegal.

  • Don’t worry about credit score

When you take out a payday loan, having a good or bad credit score is irrelevant. What lenders are interested in is if you can manage repaying the loan byn your next paycheck.

Payday loans fees and charges in Minnesota

If you are considering a payday loan in Minnesota, these are crucial information you have to know:

  • APR

The annual percentage rate for a payday loan in Minnesota cannot be more than 390%.

  • Charges and fees

Charges & fees

Charges & fees

The charges and fees may vary depending on the amount of money you are borrowing:

  • The charge for a $50 loan can be up to $5.50
  • If your loan amount is somewhere between $50 and $100, you can be charged with an administrative fee of $5 and a fee of up to 10% of your loan amount.
  • If your loan amount is somewhere between $100 and $250, you may be charged with $5 administrative fees and up to 7% of the amount borrowed.
  • If you your loan exceeds $250, you can be charged with $5 administrative fee plus up to 6% of the loan amount. That is with a minimum of $17.50.
  • Collection fees

If your payment has been rejected, you’ll most likely be obliged to pay a maximum NSF fee of $30.

  • Additional interest charge limit after default

Even though rollovers are forbidden by the Minnesota payday loans laws, lending companies are allowed to charge additional interest of up to 2.75% per month on that loan.

  • Rollovers

According to Minnesota payday loans laws, payday loan lending companies are not allowed to rollover or renew any loan case of nonpayment of the debt.

Who is eligible for a payday loan in Minnesota and how to apply for one

Who is eligible for a payday loan in Minnesota

Who is eligible for a payday loan in Minnesota

Despite being very fast and easy to obtain, payday loans do have some requirements that you should meet:

  • To be eligible for a payday loan in Minnesota you must be 18 years old or older
  • You need to have a stable monthly income
  • You need to be a permanent resident of the US or an American citizen

For your application to be successful, have these information at hand:

  • Social security number, name and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Minnesota where you can find payday loan lenders:

  • Alexandria
  • Anoka
  • Bemidji
  • Blue Earth
  • Brainerd
  • Burnsville
  • Cambridge
  • Cass Lake
  • Champlin
  • Chanhassen
  • Cloquet
  • Columbia Hts
  • Cottage Grove
  • Detroit Lakes
  • Dilworth
  • Dodge Center
  • Duluth
  • Eden Prairie
  • Elk River
  • Excelsior
  • Forest Lake
  • Glyndon
  • Grand Rapids
  • Hastings
  • Hibbing
  • Hopkins
  • Inver Grove
  • Lakeville
  • Little Falls
  • Madison Lake
  • Mankato
  • Maple Plain
  • Minneapolis
  • Minnetonka
  • Moorhead
  • New Hope
  • Prior Lake
  • Rochester
  • Savage
  • Shakopee

 

Michigan payday loan laws overview

The state of Michigan is divided into Upper and Lower peninsulas by the Straits of Mackinac, a narrow waterway which links lakes Michigan and Huron. It borders on four of the five Great Lakes. The state of Michigan has a population of around 9,922,576 which makes it the 10th most populous state in the US. Its economy is pretty diverse and includes production of  military and aerospace equipment, automobiles and many other things. Lately, Michigan payday loans are gaining more popularity and becoming a first choice for borrowers in the state.

Michigan payday loans laws regulations

Michigan payday loans laws regulations

Michigan payday loans laws regulations

Payday loan lending in the state of Michigan is completely legal according to Mich. Comp. Laws 487.2121 et seq and so the lending companies can run their businesses freely. We can say that Michigan payday loan laws are a little more complicated compared to other states in the United States. Payday loan lenders in Michigan must operate within certain limitations. The maximum payday loan amount a borrower can take is $600. However, in Michigan, people taking out payday loans are able to take out more than two outstanding loans from different lending companies. In Michigan, the length of any given payday loan cannot be longer than 31 days with no extensions allowed. It is also legal for lending companies to charge a $25 insufficient funds fee in case a payment has defaulted.

Payday loan lenders in Michigan

Payday loan lending industry is growing fast in the last 10 years and one of the main reasons for that is the availability of online lending. In Michigan, it is likely to find a payday loan lender’s store near your home or your workplace. The fact that you can apply for a loan from your home is something that makes the service more attractive to customers. Therefore, more and more businesses open doors in Michigan.

Why taking out a payday loan in Michigan can be a good borrowing option?

Taking out a payday loan, like with any other type of loans has its advantages and disadvantages. Let’s have a look at some of the benefits you get with payday loans:

  • You get options

You get options

You get options

You live in the city with payday loan offices all around you – great. You live outside the city and want to apply for a payday loan with no offices near your home – still great. This is because payday loans give you the opportunity to apply by going to a physical store or by going online to a lender’s website.

  • You need it fast, you get it fast

We all know that when people go through financial difficulties, every hour seems like a drag. Michigan payday loan lending companies make sure that you get your money as quickly as possible. You usually get your cash within few hours or by the next business day if you apply for your loan online.

  • You may still apply with bad credit

Yes, that’s correct. With payday loans, having a bad credit is not an issue and you can apply for your loan just as easily as you would if your credit score was good. This fact alone is enough to convince most borrower to choose payday loans as their first choice when it comes to borrowing.

  • No spending limitations

That’s right, unlike with traditional lending institutions where you have to follow certain limitations when spending the loan you’ve taken out, with payday loans you are free to do whatever you want with your money. It just has to be legal spending, that’s all.

Michigan payday loans fees and charges

There are some important things you should know if you are considering a payday loan:

  • APR

The annual percentage rate for a payday loan in Michigan can’t be more than 390%.

Interest charges for payday loans in the state of Michigan go like this:

  • 15% charge is for the first $100,
  • Second $100 loan is granted at 14%
  • You can get the third $100 loan at 13%
  • The fourth $100 loan is granted at 12%

All loans exceeding $400 are granted at 11%. The stated annual percentage rate for a $100 14-days loan cannot be more than 390%.

  • Charges and fees

The charges and fees vary depending on the amount you are borrowing:

  • The fee for a $100 loan is $15
  • The fee for a $250 loan is $35.50
  • The fee for a $600 loan is $76
  • Collection fees

Collection fees

Collection fees

In case of a declined payment, it is most likely you’ll be charged with a maximum of $25 NSF fees.

  • Rollovers

According to Michigan payday loans laws, payday loan lending companies are are in no way allowed to rollover or renew a loan in case of failed payment.

Michigan payday loans eligibility and application process

You need to satisfy some requirements if you want to take out a payday loan in Michigan:

  • You have to be 18 years old or older
  • You have to be a permanent resident of the US or an American citizen
  • You must have a steady source of income

Have the following information to successfully complete your payday loan application:

  • Social security number, name and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Michigan where you can find payday loan lenders:

  • Ann Arbor
  • Battle Creek
  • Bay City
  • Burton
  • Dearborn
  • Dearborn Heights
  • Detroit
  • Eastpointe
  • Flint
  • Garden City
  • Grand Rapids
  • Holland
  • Inkster
  • Jackson
  • Kalamazoo
  • Lansing
  • Lincoln Park
  • Livonia
  • Madison Heights
  • Midland
  • Muskegon
  • Oak Park
  • Plymouth
  • Pontiac
  • Port Huron
  • Portage
  • Redford
  • Roseville
  • Royal Oak
  • Shelby
  • Southfield
  • Southgate
  • Sterling Heights
  • Taylor
  • Troy
  • Warren
  • Waterford
  • West Bloomfield
  • Westland
  • Wyoming

 

Louisiana payday loan laws overview

The historical background of Louisiana is rich and colorful, which makes the state a very popular destination for tourists. The state is also a leader in the production of salt, natural gas, petroleum and sulfur. The state of Louisiana has a population of around 4,670,724 residents which makes it the 25th most populous state in the US. In the last years payday loans have attracted lots of borrowers with their simple and easy conditions and the residents of Louisiana do not make an exception. Louisiana payday loans are legal.

Louisiana payday loans laws regulations

Louisiana payday loans laws regulations

Louisiana payday loans laws regulations

Payday loan loans are legal in the state of Louisiana and lend is a legal businesses according to La. Stat. Ann. 9:3578.1 et seq. Louisiana payday loan laws are a bit more complicated compared to other states in the US. Payday loan lenders in the state of Louisiana need to operate under certain limitations. A borrower can take a maximum of $350 payday loan amount at a time is $350. However, in Louisiana, borrowers have the right to take out as many outstanding loans as they want to as there is no limit restricting the number of loans a borrower can take out. The length of any payday loan given in the state of Louisiana cannot surpass 60 days, and no extensions are allowed. Lending companies in Louisiana are allowed to charge a documentation fee of $5.

Payday loan lending companies in the state of Louisiana

Whether you are aware of it or not, payday loan industry is growing extremely fast. Since the advent of online lending, the number of Louisiana payday loans lenders has increased a lot and so have their clients. It is most likely that you would find a lender’s physical store near your workplace or home. The opportunity to apply for a payday loan from your home adds another level of comfort and accessibility to the service.

Advantages of taking out a payday loan in Louisiana

Advantages of taking out a payday loan in Louisiana

Advantages of taking out a payday loan in Louisiana

Payday loans are on the top of short-term loan business and there are many reasons for that being so.

  • Lots of options

With payday loans, you have the option to apply by visiting a lender’s store or by just going online and visiting the lender’s webpage. Having the ability to choose your way of applying makes a big difference as some people have difficulties finding a lender’s office or simply do not have the time to drive around.

  • Fast service

Imagine that an emergency bill comes up out of nowhere and you are not even close to being able to handle it. In such cases, time can be crucial. With traditional bank loans, you will mostly likely have to wait for days or even weeks to get your loan. However, payday loans can secure you the amount you need in just a few hours (if you apply in a physical store) or by the next business day (if you choose to apply online).

  • Bad credit is irrelevant

When dealing with traditional lending institutions, having a bad credit can really limit your options, making it almost impossible to get a loan with good terms. This is where payday loans come in. Payday loan lending companies do not care if your credit is good or bad. What they want to know is if you are going to be able to repay your loan by your next paycheck.

  • Your money, your choice

Unlike loans from most traditional lending institutions, you can pretty much do anything you want with your payday loan as long as it is not something illegal.

Payday loans fees and charges in Louisiana

There are some things you need to know when applying for a payday loan in Louisiana:

  • APR

The annual percentage rate for a two-week $100 payday loan in Louisiana cannot exceed 780%.

  • Interest

In Louisiana, Interest charges for payday loans go like this:

  • If you default on a loan, the lending company can charge an annual percentage rate of 36% for the first year, and an annual percentage rate of 18% beyond the 13th month. The finance charge for a two-week $100 loan is limited to $30.
  • Fees for extending loans

  • Fees for extending loans

    Fees for extending loans

    Rollovers, refinancing or renewals of payday loans are not allowed in the state of Louisiana. However, if you pay 25% of your loan, you may refinance the remaining 75%.

  • Collection fees

If your payment has been declined, you’ve to typically pay a maximum of $25 in NSF fees.

  • Rollovers

According to Louisiana payday loans laws, payday loan lenders are forbidden from rolling over or renewing any loans in case of a non-payment.

Payday loans application and eligibility in Louisiana

Payday loans are a fast and easy service but you still need to meet certain requirements in order to apply for one:

  • You have to be at least 18 years old
  • You need to resident permanently in the US or to be an American citizen
  • You must have a source of steady income

Provide the following information to successfully complete your application:

  • Your social security number, name and date of birth
  • Phone number, home and email address
  • Details regarding your employment and income

Cities in Louisiana where you can find payday loan lenders:

  • Abbeville
  • Alexandria
  • Amelia
  • Amite
  • Baker
  • Baldwin
  • Bastrop
  • Baton Rouge
  • Berwick
  • Bogalusa
  • Bossier City
  • Bourg
  • Boutte
  • Breaux Bridge
  • Broussard
  • Bunkie
  • Chalmette
  • Clinton
  • Covington
  • Crowley
  • Delhi
  • Denham Springs
  • Deridder
  • Donaldsonville
  • Harvey
  • Houma
  • Kenner
  • Lafayette
  • Lake Charles
  • Marrero
  • Metairie
  • Monroe
  • New Iberia
  • New Orleans
  • Opelousas
  • Ruston
  • Shreveport
  • Slidell
  • Sulphur
  • Terrytown

 

 

Kentucky payday loan laws overview

An interesting fact about Kentucky is that during the Civil War, being a slaveholding state with a huge abolitionist population, the state of Kentucky was caught in the middle of Confederate and Union and supply both forces with thousands of troops. The state takes pride in producing some of the nation’s best whiskey, tobacco and horses. Among the state’s agricultural products are products like soybeans, corn, wheat, fruit, cattle, hogs and others. The state of Kentucky has a population of roughly 4,425,092 residents which makes it the 26th most populous state in the United States. The state is also the 37th largest in the country and has the longest cave system in the world. Nowadays, payday loans are becoming a go-to solution for most borrowers in the state ot Kentucky. Kentucky payday loans are available both online and in lenders’ stores.

Kentucky payday loans laws regulations

Kentucky payday loan laws regulations

Kentucky payday loan laws regulations

According to the Stat. Ann. 286.9-010 et seq law, payday loan lending in the state of Kentucky is absolutely legal and lending companies can conduct their businesses with no legal issues. That same law, however, applies certain restrictions in the finance charges and fees, as well as the allowed amount and terms of every loan. Moreover, the forms of payday lending other than check cashers are illegal in Kentucky. Different states have different regulations, and a strange feature with Kentucky payday loan law regulations is its statewide database. It allows monitoring of all payday interactions by the regulation authorities. So if necessary, they can find out all information regarding the loan quickly and easily. That measure leaves payday loan companies with no other choice but to follow the laws, giving them no chances to bypass it.

In the state of Kentucky, a borrower cannot take a loan that surpasses the amount of $500, and borrowers are forbidden from taking more than 2 loans simultaneously. The length of any given payday loan in the state of Kentucky must not be below 14 and above 60 days, no extensions are allowed.

Kentucky payday loans lenders

In the state of Kentucky, you can find a payday lender’s office in almost every city and also you can submit an application for one by going online and visiting a lender’s store on the web. The addition of online applications for payday loans has made it accessible even to people who are unwilling or unable to visit a physical store.

Taking out a payday loan in Kentucky is typically a great idea

Payday loans come with a number of benefits despite their reputation of being a risky choice for the borrowers.

  • They are easy to find

It is most likely that you have a lender’s store near your home or near the place you work. Otherwise, you can always submit your application online without even having to leave your chair.

  • Service is as fast as it gets

Service is as fast as it gets

Service is as fast as it gets

It is hard to find a lending option that can get you the money you need faster than payday loans. While you’d most likely have to wait days or even weeks when taking out a loan from a traditional bank, with payday loans you get your cash within hours, or ifo apply for your loan online, you are able to get your cash by the next business day.

  • It is ok if your credit isn’t too good

Having bad credit has always been something that makes people feel helpless when it comes to borrowing money. Kentucky payday loans could be a breath of fresh air for those who do not have a good credit score. This is because payday loan lending companies do not look at the credit score when deciding whether to grant you a payday loan or not. As long as the borrower is able to make his payments on time, he will probably be approved for a loan.

  • Money is yours to spend

Traditional banks tend to set restrictions on how you can spend the loan they are giving you. With payday loans, you have the freedom to do whatever you want with it. The only limitation is to not spend it on something illegal. You can use the money to pay for car repairs, fix the leaky roof of your house or settle medical bills.

Payday loans fees and charges in Kentucky

In case you thinking of applying for a payday loan in Kentucky, there are some things you may want to know to help you make a more informed choice.

  • APR

The annual percentage rate for a two-week $100 payday loan in the state of Kentucky cannot exceed  459%.

  • Interest

Kentucky payday loans interest

Kentucky payday loans interest

In Kentucky, Interest charges for every $100 borrowed should not be more than $15.

  • Finance charge

  • Finance charge on a $100 payday loan given for a period of 14-days cannot exceed $17.65
  • Collection fees

In case your payment has been declined in Kentucky, the lending company cannot charge you with more than one NSF fee. Moreover, it can only charge this fee if it clearly states in the loan contract that such a fee is applicable.

  • Rollovers

According to Kentucky payday loans laws, payday loan lending companies are strictly prohibited from rolling over or renewing the loans in case of nonpayment of the debt.

Payday loan requirements in the state of Kentucky

Payday loan requirements

Payday loan requirements

To be eligible for a payday loan in Kentucky, you must meet the following requirements:

  • You need to be at least 18 years old or older
  • You have to be an American citizen or a permanent resident of the US
  • To show you’ll be able to make your payments you need to have a steady income

To complete your application, you must provide the following information:

  • Your social security number, name and date of birth
  • Phone number, home and email address
  • Employment details and income status

Cities in Kentucky where you can find payday loan lenders:

  • Albany
  • Alexandria
  • Allen
  • Ashland
  • Barbourville
  • Bardstown
  • Beaver Dam
  • Benton
  • Berea
  • Betsy Layne
  • Bluehole
  • Bowling Green
  • Burkesville
  • Burlington
  • Campbellsville
  • Campbellsvlle
  • Caney
  • Carrollton
  • Centertown
  • Central City
  • Clay City
  • Cloverport
  • Cold Spring
  • Columbia
  • Corbin
  • Covington
  • Crescent Springs
  • Crown
  • Elizabethtown
  • Florence
  • Frankfort
  • Henderson
  • Hopkinsville
  • Lexington
  • Louisville
  • Nicholasville
  • Owensboro
  • Paducah
  • Radcliff
  • Richmond