Oregon payday loan laws overview

In today’s economy, it is really difficult even for hard-working people with a steady monthly income to meet their monthly bills. Even those who make the most out of what they have, cut their spendings, structure their budget in the best possible way by carefully planning and calculating their monthly earning and expenses, even they often struggle to sustain a stable financial state. And life is full of surprises, sometimes an unexpected event can bring unexpected expenses.

Oregon payday loans laws

Oregon payday loans laws

If you can barely afford to pay your monthly electricity bill, how are you going to afford to pay for an emergency expense? Seems like the only way to cope with such situation is by seeking financial help. When a person needs a quick money injection, his friends and family may be the answer. However, for some people, taking out a loan from a close person is a not a viable option. This leads us to the tremendous growth that the loan lending industry has had in the last decade.

There are numerous loan options for borrowers to pick from. Different loan types allow you to take out a loan with fewer application requirements, some loans you can take without having to leave your house by simply going online. Among so many loan types out there, probably the most popular type is payday loans. Payday loans are very popular among many borrowers. However, they are not legal in every state in the United States. Some states set really tough restrictions and limitations on payday loan lending due to the risks that they carry. Below we will see if payday loans are available to the residents of the state of Oregon and if so, why it can be a good idea to get one.

Are Oregon payday loans legal?

According to Oregon payday loan laws, payday loan lending in the state is considered legal and is regulated by the 54 Or. Rev. Stat. § 725A.010 et seq law. The loan lending industry in Oregon is growing and therefore there are more than 450 payday loan lending companies that conduct their business in the state. According to Oregon payday loan law regulations, the minimum loan term for a payday loan is 31 days with a maximum term of 60 days.

The maximum payday loan amount that borrowers can take out in Oregon is tremendously higher compared to what payday loan lending companies offer in most other states as borrowers in Oregon are able to take out payday loans up to $50,00 or up to 25% of the borrower’s monthly income. With that being said, however, there is a restriction on 36% annual percentage rate and the annual percentage rate for a $100 payday loan for 31-days cannot surpass 154%.

Oregon residents are not limited to a certain number of possible payday loans they can take, however, there must be a cooling-off period of 7 days between every consecutive payday loan. In Oregon, a payday loan can be rolled over twice. Payday loan lending companies in the state are not allowed to pursue any criminal action against their customers, however, civil trials in Oregon are legal. Payday loan lending companies are allowed to charge an NSF fee of $20 in  case of a check return.

Why are payday loans so popular in Oregon?

Why are payday loans so popular in Oregon?

Why are payday loans so popular in Oregon?

Despite being quite risky, payday loans can be a go-to option for many borrowers because of the benefits they offer.

  • Having a bad credit is not fatal

While it is almost impossible to get a standard loan from a traditional loan lending institution, such as a bank, if your credit score is not perfect or even good, taking out a payday loan with a bad credit score is rather common. Payday loan lending companies are more interested in your ability to repay the loan in full on the due date rather than what your credit history is.

  • Payday loans are fast

Since they are mostly used to deal with an emergency financial situation, payday loans are an extremely fast service. You can go through the whole application process in a matter of minutes after which, if approved, you will receive your money by the end of the following business day.

  • Payday loans give you multiple options

Payday loans are fast

Payday loans are fast

While it is most likely that if you live in Oregon, you can probably find a payday loan lender’s physical store near your home or your workplace. Payday loans also give you the option to submit your application online. That way you can go through the whole application process all without having to leave the comfort of your living room.

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

While most conventional loan lending institutions set certain limitations on what the borrower can spend the loan he’s been given, with payday loans, once you get your cash, you are free to use it in any way you like as long as you do not use the money for something illegal.

Cities in the state of Oregon where you can find payday loan lenders

  • Milton Freewater
  • Albany
  • Bend
  • Brookings
  • Burns
  • Canby
  • Central Point
  • Gresham
  • Hermiston
  • Clackamas
  • Coos Bay
  • Baker City
  • Beaverton
  • Corvallis
  • Cottage Grove
  • Dallas
  • Eugene
  • Forest Grove
  • Grants Pass
  • Hillsboro
  • Myrtle Creek
  • Newberg
  • Keizer
  • Portland
  • Klamath Falls
  • Lebanon
  • Lincoln City
  • Madras
  • Astoria
  • Mcminnville
  • Medford
  • Springfield
  • Molalla
  • Newport
  • North Bend
  • La Grande
  • Ontario
  • Oregon City
  • Pendleton
  • Salem


Even though payday loans in Oregon are quite popular and can be really useful in certain situations, you should be careful when you consider applying for one. You need to be absolutely confident in your ability to repay the loan on time, otherwise, you risk getting yourself into more financial trouble.

Missouri payday loan laws overview

When we talk about borrowing money, the residents of Missouri have more than a few lending options to choose from. Probably the most popular type of loan people usually turn to is Missouri payday loans, also known as cash advances. Payday loans can be one of the easiest ways to get cash quickly when you have pressing financial obligations to attend to. In Missouri, there are many payday loan lending companies offering payday loans online or in their physical store. Before you decide to apply for a cash advance, it is for the best that you know all the regulations and rules regarding that type of loan.

With its population of over six million, the state of Missouri takes the 18th place in the United States in most populous states race. In December 2014, the unemployment rate of the state was lower than the national unemployment average rate, standing at 4.8% compared to 5.5%.

Are Missouri payday loans legal?

Missouri Payday Loan Laws

Missouri Payday Loan Laws

Cash advances in Missouri are completely legal. The maximum loan amount you can borrow is $500. Payday loan lending companies provide their services online and on-ground, however, they need to be licensed by the Missouri Division of Finance to do so.

Payday loan lending companies are required by the Missouri payday loan laws to provide their clients with all the needed information regarding their loan contract before they sign it. All conditions and terms of the loan must be included in the contract. Borrowers can cancel all transactions by the next business day.

Why getting a payday loan in Missouri is a good idea?

First off, payday loans are a very fast service. They are quite unlike traditional banks where the process of getting a loan may easily take weeks or even months.

With payday loans, it is a whole different story. The process of applying is extremely fast and simple. You can do the whole thing in the comfort of your home by getting the loan online. Another big benefit of Missouri payday loans is that they are not available only to those with good credit score. With payday loans, you can have a bad credit rating and are allowed to apply for a loan. Another attractive feature is that once you get your money, what you want to do with it is entirely up to you as long as you don’t do anything illegal. Of course with so many benefits, payday loans have downsides too. Probably the greatest of which is their very high interest rate. That is why they are mainly used as a short-term solution and  you need to pay it back by your next paycheck.

Missouri payday loans laws restrictions

  • Missouri payday loan laws restrictions

    Missouri payday loan laws restrictions

    Annual percentage rate. A lending company can charge a maximum of 1,950% APR for a two-week $100 loan.

  • Finance fees and rate. The maximum fees and interest you’ll need to pay for a single loan during the whole period of the loan may not surpass 75% of the initial amount of the loan. To simplify this, the maximum finance charge you’ll need to pay for a two-week payday loan of 100 dollars is $75.
  • Collection fees. The only real legal restriction that state laws have imposed on payday lending companies is that they are prohibited from charging check-bouncing fees over and over again by trying to collect the same check. Lending companies can charge an NSF fee if there is insufficient funds in the account and for collection costs such as attorney’s fees and court costs.

Who is eligible for a payday loan in Missouri?

To get your payday loan, there are certain requirements that you must meet:

  • You’re an American citizen or a permanent resident of the United States
  • You are 18 years old or older
  • You have a steady source of income

In order for your application to be completed successfully, there is more information that you must provide:

  • Your birth date, name and photo ID
  • Your phone number, email and residential address
  • Details of your income and employment
  • If you choose to apply for the loan online, you will also have to enter your bank account details

Cities in Missouri where you can find payday loan lenders:

  • Kansas City
  • St. Louis
  • Springfield
  • Independence
  • Columbia
  • Lee’s Summit
  • O’Fallon
  • St. Joseph
  • St. Charles
  • St. Peters


  • Missouri payday loans

    Where to Get Payday Loan in Missouri

    How to file a complaint?

Whatever complaints you have regarding payday loans in the state of Missouri, you should contact the Missouri Division of Finance. You can file or submit a complaint via mail, email or fax.

  • What is the maximum loan term of cash advance loans in Missouri?

The loan term for Missouri payday loans is between 14 and 31 days.

  • How many loans can you take at the same time?

You can have a maximum of $500 of outstanding debt with any one lender at one time.

  • How many rollovers can you get?

You may rollover your payday loan for up to six times, with the condition that you bring down the principal amount by a minimum of 5% with every renewal.

  • What will happen if you are not able to pay back the loan on time?

In Missouri, there are no installment or repayment plan options to choose from. If you default on your loan repayment, the lending company doesn’t have the right to pursue any criminal action against you. You will still be responsible for paying back the loan in full, including  collection and interest fees, plus reasonable attorney’s fees and court costs.

Mississippi payday loan laws overview

In the state of Mississippi, payday loans are completely legal, therefore payday loan lending companies can freely conduct business. Mississippi payday loans are available both online and in physical stores.

Mississippi is named after the Mississippi river which is situated at the state’s western boundary and flows into the Gulf of Mexico. The name of the state is translated from Native American folklore and it means “Father of Waters.” Mississippi was admitted as the 20th state to join the Union. Today, it is the 32nd most populous state in the US. Its largest metropolitan area and capital is Jackson city.

In 2010, the total state product of Mississippi stood at $98 billion. The state is known for having the lowest living costs in the United States.

Mississippi payday loans laws

Payday loans in Mississippi

Payday loans in Mississippi

Payday loans are a type of short-term loans, also known as cash advance in which the borrower takes out a small amount of money which he then must pay back by his next paycheck. In Mississippi, cash advance lenders can offer loans to borrowers with a 22% interest rate, meaning that for each $100 that is given out, $22 must be paid as interest.

The maximum amount a person can borrow with a payday loan in Mississippi is $400 per check and $500 if fees and charges are included. Rollovers are forbidden by Mississippi state law.

There are more than 1,100 cash advance lending companies operating in Mississippi. Borrowers can take out loans by going to a physical store or just by visiting a lender online. In recent years, the internet has significantly increased the number of payday loan providers.

Why go for a payday loan?

Choosing payday loans over traditional bank loans can have many different benefits:

  • Multiple options. Mississippi payday loans are probably the most popular type of borrowing there is, which means that since the industry is so big, there are a lot of companies to choose from. All you have to do is find a lender that best suits your needs and go online to submit your application.
  • They are really fast. Once you have submitted your application, it only takes a couple of hours for you to get your loan. If you decide to apply for it online, you may have to wait until the following business day before the cash is in your hands.
  • Spend it how you want. Unlike traditional banks where before you even get your money, you have to be very specific about why you need it and how you plan on spending the cash. With payday loans, once you’re done with the simple and quick application process and you have your money, you can spend it in whatever way you like.
  • Lenders are willing to work around poor credit. No more sweating over your credit rating, no more rejection from banks. You may apply for a payday loan even if your credit score is far from good. Having a chance to be approved of loans with bad credit is one of the main reasons why people turn to payday loans.

Mississippi payday loans charges and fees 

  • Mississippi payday loans fees

    Payday Loans Fees in Mississippi

    Finance fees and rate. If you take out a sum not exceeding $250, you won’t have to pay more than $20 per $100 loan. If the cash amount is somewhere between $250 and $500, the finance charge is limited to $21.95 for every $100. The maximum finance charge for a two-week $100 cash advance is $20. The annual percentage rate for a two-week $100 cash advance cannot be beyond 520%.

  • Collection fees. When entering the collection stage, your lending company has the right to charge you an NSF fee. You also may have to pay some disclosed court awarded fees.
  • Rollover fees. There are no rollover fees since rollovers are forbidden by Mississippi payday loan laws.

Payday loans eligibility in the state of Mississippi

Whether you want to apply for online payday loans or go to a physical store, there are certain criteria that you’ll have to meet for your submission to be accepted.

  • You must be a permanent resident of the United States or an American citizen
  • You must be 21 years old or older
  • You need to have a steady source of income

In order to successfully complete your application, there is some information that you must provide.

  • Your birth name and details for contact
  • Your social security number, and a valid form of ID such as your driver’s license or passport
  • Details of your income and employment

Cities in Mississippi where you can find payday loan lenders:

  • Jackson
  • Gulfport
  • Southaven
  • Hattiesburg
  • Biloxi
  • Meridian
  • Olive Branch
  • Tupelo
  • Greenville
  • Horn Lake