Are you not sure of the payday loan laws within your own state? Well that's okay, not many people do, and your probably in the situation where you need a cash advance quickly and now's the time to find out if your eligible to get a payday loan in your state. If you live in a state that doesn't allow for payday loans, our site will not be able to help you, except to offer you other deals and advertisement. Below we have compiled a list of states and their laws when it comes to payday cash advance loans. The chart was last updated on January 6, 2010, and if you are looking for a loan from one of the states below, you should check with your state government to ensure these laws are still in place. We are not responsible for maintaining this list, and we cannot be held responsible for any actions taken by following the information listed below:
Alabama | The Payday Loan may not have an interest rate over 17.5%. May only take a loan of $500 dollars. |
Alaska | The company providing the loan may not charge a nonrefundable origination fee over 15% of the total amount of the loan. May only take a loan of $500 dollars. |
Arizona | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over 15%. May only take a loan from $50 to $500 dollars. |
Arkansas | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over 10% of the actual loan or extension. May only take a loan of $400 dollars. |
California | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over 15% of the total amount of the loan. May only take a loan from $300 dollars. |
Colorado | The non refundable fee should not exceed 20% on the first $300 loan amount, and 7 1/2% for anything over the $300 loan amount. |
Connecticut | No Legal Limitations. |
Delaware | May only take a loan from $500 dollars. |
District of Columbia | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over 5%. May only take a loan of $50 to $1000 dollars. |
Florida | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the checks tha's over 10%. May only take a loan of $500 dollars not including any fees to receive the amount. |
Georgia | Prohibited |
Hawaii | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over 15%. May only take a loan of $600 dollars. |
Idaho | No Legal Limitations. |
Illinois | A lender cannot charge in excess of $15.50 per $100 loaned amount. May only loan either $1000 or 25% of the consumer's gross monthly income, whichever may be less. |
Indiana | Refer to Indiana State Law. May only loan $50 to $550 dollars. |
Iowa | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over $15 on the first $100 and over $10 for each $100 after the initial $100 dollars. May only take a loan of $500 dollars at one time. |
Kansas | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over 15% of the amount of the loan. May only take a loan totaling $500 dollars. |
Kentucky | The company providing the loan may not charge a nonrefundable fee of any kind for accepting the check that's over $15 dollars per every $100 loan amount. May only take a loan totaling $500 dollars. |
Louisiana | Check with Louisiana Law. May only take a loan totaling $350 dollars. |
Maine | No Legislation |
Maryland | No Legislation |
Massachusetts | No Legislation |
Michigan | Check with Michigan Law. May only take a loan totaling $600 dollars. |
Minnesota | Check with Minnesota Law. May only take a loan totaling $350 dollars. |
Mississippi | Check with Mississippi Law. May only take a loan totaling $400 dollars. |
Missouri | A borrower will not be expected to pay a loan that's interest is over 75% of its initial principal balance. May only take a loan totaling $400 dollars. |
Montana | The company providing the loan may not charge a fee of any kind that's over 25% of the initial loan amount. May only take a loan totaling $50 to $300 dollars. |
Nebraska | The company providing the loan may not charge a fee of any kind that's over $15 dollars per $100 dollar amount. May only take a loan totaling $500. |
Nevada | Refer to Nevada Legislation. The loan amount cannot exceed 25% of the borrower's net monthly income. |
New Hampshire | Payday loans can only incur interest and the interest rate for a payday loan cannot exceed 36% annual percentage rate per yet. The borrower can get a loan amount up to $500 dollars. |
New Jersey | No Legislation |
New Mexico | Check with New Mexico Legislation. |
New York | No Legislation |
North Carolina | No Legislation |
North Dakota | The company providing the loan may not charge a fee of any kind that's over 20% of the loaned amount. May only take a loan totaling $500 dollars |
Ohio | The interest on the loan cannot exceed 28% APR for any given payday loan. May only take a loan totaling $500 dollars. |
Oklahoma | The company providing the loan may not charge a few of any kinds that are over $15 dollars for every $100 dollars. May only take a loan totaling $500 dollars. |
Oregon | Check with Oregon Legislation. No Loan Amount Limitation. |
Pennsylvania | No Legislation |
Puerto Rico | No Legislation |
Rhode Island | Check with Rhode Island Legislation. May only take a loan totaling $500 dollars. |
South Carolina | The company providing the loan may not charge a fee of any kind that's over 15% of the face value of the loan. May only take a loan totaling $300 dollars. |
South Dakota | No Legislation |
Tennessee | No Legislation |
Texas | Refer to Texas State Laws for more information. |
Utah | No Legislation |
Vermont | No Legislation |
Virgin Islands | No Legislation |
Virginia | The loaner may charge on each loan an amount that cannot exceed 36% APR in a year. The loaner cannot charge a few over 20% of the loaned amount. May only take a loan totaling $500 dollars. |
Washington | Check with Washington State Legislation. May only take a loan totaling $700 dollars. |
West Virginia | No Legislation |
Wisconsin | No Legislation |
Wyoming | The loaner cannot charge an interest over $30 a month or 20%, whichever comes first for a loan. There is no limitation on how much a borrower can borrow. |
Written By John Alexander
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