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

 

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

 

 

Kansas payday loan laws overview

The state of Kansas is named after the native American tribe Kansa which lived in the area. It is well known for its agricultural production which include corn, soybeans, wheat, sorghum and others. The state of Kansas is the 15th largest state in the US and with its population of more than 3 million residents, it is the nation’s 34th most populous state. Payday loans are something that really attracts the attention, as more and more borrowers from Kansas are using this type of loan to deal with their financial difficulties. Kansas payday loans laws are explained in this article. 

What is a payday loan?

Payday loans or cash advances are short-term loans which you should settle in full when you get your next payday.

Kansas payday loans laws regulations

Kansas payday loans laws regulations

Kansas payday loans laws regulations

Payday loan lending in Kansas is completely legal and can operate legally according to Kansas Statutes Annotated Section 16a-2-404. The state law regulates the operation of all lending companies in the state and in doing so sets a certain number of limitations. The length of any given payday loan in the state of Kansas must not be less than 7 days and more than 30 days, with no extensions allowed.

In the state of Kansas, a borrower cannot take out a loan exceeding $500. However, in Kansas, borrowers are allowed to take out as many outstanding loans as they wish to as there is no limit restricting the number of loans a borrower can take out. A payday lending company is not allowed to provide more than three loans to a borrower within a period of 30 days. All lending companies are obliged to keep track of all payday loans regarding their transactions.

Why taking out a payday loan in Kansas is sometimes helpful?

Kansas Payday loans can be more than helpful in many different situations, despite their risky reputation, they have lots of positives:

  • Application options

If you feel visiting and comparing different lending companies stores before deciding whether or not you want to apply for a payday loan, you can do that. But with Kansas payday loans, you also have the option to do research effortlessly by simply going online and visiting a lender’s webpage.

  • It’s an extremely fast service

Bad credit is irrelevant

Bad credit is irrelevant

Payday loans are always ready to meet your needs. If you want your money in a few hours or by the next business day (that’s the case if you apply online), there is not another lending service that can give you a faster solution than payday loans.

  • Bad credit is irrelevant

We all know that having bad credit makes it tough to get a loan, at least that is the case with most loans. Here’s probably the most attractive feature of payday loans – you don’t need to have a good credit score in order to apply for one. Most lending companies don’t care about your credit score, so you can put your worries about having a less than stellar credit score to rest.

  • Spend it as you deem fit

With payday loans, you can do whatever you want with it. That of course does not include anything illegal.

Fees and charges for payday loans in the state of Kansas

Before you take out a payday loan in Kansas, there are some things that you should be aware of.

  • APR

Collection fees

Collection fees

The annual percentage rate for a two-week $100 payday loan in Kansas cannot exceed 390%.

  • Fees and charges

In Kansas, lending companies are not allowed to charge more than 15% on a $100 loan two-week loan.

  • Collection fees

In case you fail on a payment, in the state of Kansas, payday loan lenders are allowed to charge one NSF fee

  • Rollovers

Kansas payday loan laws do not say anything specific with regards to rollover fees. If you fail to repay the payday loan on time, the lending company does not have the right to charge more than 3% of the loan proceeds per month after the date of maturity.

Payday loans application and eligibility in the state of Kansas

Payday loans application

Payday loans application

Even though payday loans are very easy to obtain, there are still some eligibility criteria:

  • You must be at  least 18 years of age
  • You need to be an American citizen a permanent resident of the United States
  • You need to show you have a steady monthly income

You must also provide the following:

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

Cities in Kansas where you can find payday loan lenders:

  • Arkansas City
  • Atchison
  • Bonner Springs
  • Clearwater
  • Coffeyville
  • Dodge City
  • Emporia
  • Fontana
  • Garden City
  • Gardner
  • Great Bend
  • Hays
  • Horton
  • Hutchinson
  • Independence
  • Junction City
  • Kansas City
  • Lawrence
  • Leavenworth
  • Lenexa
  • Liberal
  • Lyndon
  • Maize
  • Manhattan
  • Mcpherson
  • Mission
  • Newton
  • Olathe
  • Overland Park
  • Paola
  • Pittsburg
  • Salina
  • Shawnee
  • Shawnee Mission
  • Topeka
  • Wakeeney
  • Wamego
  • Wathena
  • Wichita
  • Winfield

Alternatives to payday loans in Kansas

Payday loans are quite flexible and so they are useful in many situations. However, they are not your only option. Here are some alternatives:

  • Ask a family member or a friend to lend you a small amount;
  • See what are the terms your bank is offering you for a loan and whether that matches the payday loan;
  • See if you can get an advanced payment from your employer;
  • See if it is possible to get more time from the creditors.

 

Idaho payday loan laws overview

In recent years, more and more people are turning to payday loans in Idaho when they are in a situation, requiring financial assistance.

In the state of Idaho, lumbering and mining have always been of great importance. Idaho is high in the ranking for lead, silver, garnet, antimony, phosphate rock, cobalt, vanadium, mercury and zinc. Agriculture is also a big industry in Idaho, with the state producing about a quarter of United States’s potato crop, as well as apples, wheat,  barley, corn, hops and sugar beets. In the 1990s, the state had substantial growth in the high technology industries, centered in the metropolitan Boise area. The state of Idaho is the 14th largest state in the United States and it’s the 39th most populous with a population of over 1,654,930 residents.

What is a payday loan?

Payday loans are short-term loans which the borrower must pay back within his next paycheck.

Idaho payday loan laws regulations

Idaho payday loan laws regulations

Idaho payday loan laws regulations

Payday loan lending in the state of Idaho is completely legal and lending companies can freely conduct their businesses according to Idaho Code Ann. § 28-46-401 et seq. However, in Idaho, borrowers are advised to be extremely careful when taking out a payday loan, since there are fewer restrictions and limitations that lending companies must comply with in Idaho. According to Idaho payday loan laws, payday loan lending companies can give out loans for an unlimited period of time. They are also free to charge any amount for fee and interest they deem fit. That means that annual percentage rate for a $100 loan granted for a period of 14 days can also be quite different with each different loan. It can be really high.

Borrowers are able to cancel their loan application. However, that’s only possible if they do it before the following business day after applying for the payday loan.

Idaho Payday loan lenders 

Payday loan lenders in Idaho

Payday loan lenders in Idaho

It is no secret that the lending industry, payday loan lending especially, is growing very quickly. The number of lending companies in Idaho has drastically increased in the last few years and one of the main reasons for that growth is the internet. The fact that in this state, the restrictions for payday loan lending are close to none is also very attractive for lending companies. This makes Idaho the perfect place to conduct their businesses. In almost every state in the United States, you can apply for a payday loan by visiting a lender’s physical store or visit one online. Payday loan searches on the web from residents of Idaho are among the most popular web searches in the state. You can also apply for a title loan in Idaho.

Why consider a payday loan in Idaho?

There are many reasons why payday loans are leading the race in the short-term loan business. Despite the risk that’s always present when dealing with such loans, they can also be quite beneficial:

  • Multiple options to choose from

Idaho payday loans

Idaho payday loans

While you can probably find a payday lender’s store near your workplace or your home, you may want to submit your application without having to leave your house and with payday loans, you can do just that. You have the option of applying from the comfort of your home by visiting a lending company’s website online.

  • The service is really fast

When you are in a situation that requires immediate financial assistance, you can’t really afford to wait days or weeks for your money to arrive. When applying for a payday loan, you can get hold of the money you need just hours after you have submitted your application. If you decide to apply online, it might take one business day before get your cash.

  • Cancel with no penalties

In Idaho, you can cancel your payday loan by the next business day after you’ve applied for your loan. You will need to return the amount you have taken, but there will be no fees for you to pay.

  • Bad credit is not a problem

Bad credit is not a problem

Bad credit is not a problem

Normally, having a bad credit can really mess up your chances of getting a loan and the fact that you can apply for a payday loan and may be approved even if your credit score is bad is, without a doubt, one of the main reasons why payday loans are so popular. They help to solve pressing financial issues for many borrowers when every other institution have rejected their loan applications.

  • Spend the money in whichever way you want to

Unlike with loans from most traditional banks, as long as you don’t do anything illegal with a payday loan, you can decide to do whatever you want with your money. You can use the sum to pay your bills, settle your car repair payment, among others.

Idaho Payday loans fees and charges

Before you decide whether you should or shouldn’t apply for a payday loan in Idaho, it is best that you know exactly what you are getting yourself into.

  • APR

APR

APR

Idaho payday loan laws do not have any limitations to the annual percentage rate on loans granted in the state, so you should ask the lending company what the APR is before applying for a loan.

  • Fees and charges

Lenders have the freedom to determine different fees and charges for their services, so you should always ask for all needed information before taking out a loan.

  • Rollovers

Idaho payday loan laws do not allow borrowers to get another payday loan from the same lender before they repay their previous debt.

  • Fees for paying off the loan early

When you take out a payday loan in Idaho, there are no penalties should you are able to repay the loan earlier.

Idaho Payday loans application and eligibility 

Idaho Payday loans application

Payday loans application

As mentioned above, applying for a payday loan in Idaho is very fast and simple. However, there are still certain requirements you have to meet when applying:

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

In order for your application to be successful, 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 Idaho where you can find payday loan lenders:

  • Boise
  • Meridian
  • Nampa
  • Idaho Falls
  • Pocatello
  • Caldwell
  • Coeur d’Alene
  • Twin Falls
  • Lewiston
  • Post Falls

Oklahoma payday loan laws overview

In Oklahoma, residents with financial difficulties can apply for a payday loan. Oklahoma payday loans are a type of cash advance designed for people who have an immediate need for money. It’s also important to note that this type of loan don’t require you to have a perfect or even good credit score to apply for it. You can contact a direct lending company to apply for a cash advance or pick a credit coordinating administration to match you with a loan specialist who will endorse you.

In terms of population, the state of Oklahoma takes the 28th place in the United States and is one of the biggest producers of natural gas and oil. Its economy depends on aeronautics, horticulture, broadcast communications  and biotechnology. In 2008, Oklahoma was one of the fastest developing economies in America.

Oklahoma Payday Loan Laws

payday loans legal in Oklahoma

payday loans legal in Oklahoma

In the state of Oklahoma payday loans, payday loans of up to $500 are completely legal. All payday lenders in the state is governed by The Deferred Deposit Lending Act of Oklahoma.

These laws apply to all payday credit given through physical stores and online loan lenders.

In most cases, Oklahoma payday lending companies offer such loans mainly as a short-term solution. If you change your mind and don’t wish to take out a payday loan anymore, you can do so by 5 pm the following business day.

Why a payday loan in Oklahoma could be a good idea?

There are many reasons why people turn to payday loans in Oklahoma. Here are some advantages:

  • Numerous options. In Oklahoma, there are many direct payday lending companies. This means that the power of choice is in your hands. If you’re thinking about applying for a payday loan in person, you’ll most likely be able to find a loan lender near your workplace or your home. To find the right lender, you should do thorough research on them.
  • Applying for a loan with poor credit is possible. Poor credit history will not stop you from getting the payday loan you want. Usually, payday lending companies in Oklahoma pay attention to your ability to repay the advance and not your less-than-stellar credit score.
  • Quick and easily accessible funds. When you apply for a payday loan online, you will most likely receive your cash on the day of your application or by the next business day at the latest. This is a much faster turnaround compared traditional banks and lending companies.

Oklahoma payday loans fees and charges

Oklahoma payday loans fees and charges

Oklahoma payday loans fees and charges

Let’s have a look at the fees lenders can charge according to state regulations:

  • APR. The annual percentage rate for a two-week $100 cash advance is limited to 390%.
  • Maximum rate and fees. Lenders may charge up to $15 for every $100 borrowed when the credit sum does not exceed $300. If the loan sum is more than $300, lending companies have the right to charge an additional fee of $10. The biggest finance charge for a two-week $100 loan is $15.
  • Collection fees. Lending companies have the right to charge $25 in fees unless the check is dishonored in cases of forgery or theft.

How to apply for a payday loan in Oklahoma

 

How to apply for a payday loan in Oklahoma

How to apply for a payday loan in Oklahoma

In Oklahoma, you can apply for payday loan by simply going online or visiting a physical store. Whichever option you choose, certain eligibility criteria must be met:

  • You must be over 18 years of age
  • You are required to have a steady source of income
  • You must be a resident of the United States or an American citizen

To complete your application you’ll need to provide the following information:

  • Your name, phone number, home, and email address
  • Your birth date and details from a valid form of ID
  • Your employer’s phone number and name
  • Details regarding your income

Cities in Oklahoma where you can find payday loan lenders:

  • Ada
  • Altus
  • Anadarko
  • Ardmore
  • Avant
  • Bartlesville
  • Bethany
  • Bixby
  • Broken Arrow
  • Catoosa
  • Checotah
  • Cheyenne
  • Chickasha
  • Claremore
  • Cleveland
  • Coweta
  • Duncan
  • Durant
  • Edmond
  • El Reno
  • Enid
  • Glenpool
  • Grove
  • Guymon
  • Henryetta
  • Hinton
  • Idabel
  • Kingfisher
  • Lawton
  • Moore
  • Muskogee
  • Norman
  • Oklahoma City
  • Owasso
  • Ponca City
  • Sapulpa
  • Shawnee
  • Stillwater
  • Tulsa
  • Yukon