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to consumers. Based on the information you submit, payday4you.net searches its
database housing its vast network of lenders to pair you with the lender and loan
that may be suited to your needs so that you can submit an application directly
to the lender.
The Truth in Lending Act requires full disclosure of all loan fees and interest
rates that borrowers may incur. All fees and rate information should be disclosed
to you by your lender at the time of approval. Upon the conclusion of lender approval,
most lenders will direct you to an e-signature page. This page is provided to you
by the lender to which you were matched.
Full Disclosure of Terms
The lender provides documents that contain all fees and rate information pertaining
to the loan being offered to you by the lender. Please review the fee and rate information
provided to you by your lender at this time thoroughly and completely before agreeing
to the terms of the loan. You are under no obligation to accept these terms. If
you decide the loan terms detailed in the lender contract are acceptable and wish
to proceed with the loan process, e-sign the page and await transfer of your funds.
The loan fees and interest rates are determined solely by your lender, with specific
amounts determined based upon the information you submitted to the lender. payday4you.net
has no control or knowledge of the loan details between you and your lender. You
are under no obligation to continue with the application process if you find a particular
lender‚Äôs loan terms unsuitable.
Late Payment Policy
Cash advance lenders have varying policies regarding late payments. Review the late
payment policy detailed in the loan documents provided to you by your lender before
appending your e-signature, and thereby agreeing to the loan terms. All lenders,
however, must abide by applicable laws, rules, and regulations regarding late payment
fees. Select your state from the list below to review the laws and regulations governing
late payments by a particular state.
Additional fees or charges may apply to you in the event that you are unable to
repay your loan. payday4you.net uses commercially reasonable efforts to work
only with reputable lenders dedicated to pursuing collections of past due accounts
with conduct that is fair and reasonable. Find your state in the list down below
to review the legal repercussions applicable to you in the case of non-payment.
Loan Renewal Policy
Loan renewal policies are largely governed by state regulatory legislation. In states
where rollovers, or repayment term extensions, are allowed, interest rates, along
with any late fees that may be assessed, can add a substantial dollar amount to
the end price of your loan. Find your state‚Äôs laws and regulations governing rollovers
and extensions from among the list down below. Read the lender‚Äôs terms in full regarding
loan renewal options before signing the loan contract.
State Rate & Fee Regulations
Find your state to review the applicable laws and regulations governing cash advance
loan rates and fees in your state:
|State:||Max Loan Amount||ANNUAL PERCENTAGE RATE|
|Alabama||$500||This should not exceed 17.5% of the amount. Also $10 fee for every loan request
is permitted. If the loan period expires 3% extra is charged.
|Alaska||$500||A lender is only allowed to charge what is known as a nonrefundable originating
fee. This fee shouldn‚Äôt exceed around $15 for every $100. Also the fee shouldn‚Äôt
exceed 15% of the borrowed amount. Also $20 additional free for the business‚Äôs financial
operation can also be charged.
|Arizona||N/A||Shouldn‚Äôt exceed the 36% of its annual fees. Repayment of past due fees is
|Arkansas||N/A||Around a 36% annual fee. This will depend on the Federal Reserve Discount Rate
and an added 5%. Just one loan is allowed in order to avoid cases where one loan
is taken to pay back the other. Also the fees cannot be over $400.
|California||$300||A business cannot go beyond a 15% deferred deposit transaction fee of an amount
|Colorado||$500||The documentation fees is allowed a maximum of $75. $7.50 is the max maintenance
fee of every $100 loaned, up to around $30 per month this is including the monthly
maintenance fee charged every month. In the case of a renewal the lender can access
additional financial charges which shouldn‚Äôt exceed a yearly 45% percent. ¬†
|Connecticut||N/A||The interest shouldn‚Äôt exceed 30.3%. Late fee is also applicable.|
|Delaware||$500||Cash advances of a total of $1000 is allowed at one time. The fee attached
to this loan has no limit.
|District of Columbia||Loans which are Prohibited||The law does not always change. However, keep checking back to payday4you.net
to stay posted.
|Florida||$500||A deferred provider or even an affiliate is not allowed to charge fees over
10% of the amount. However, a verification fee is allowed. Loan operation may be
subject to a 15% fee. The total fee every year can be around 390%
|Georgia||Loans prohibited||The law does change. Please check back to payday4you.net for up to date
info on this.
|Hawaii||$600||Fees shouldn‚Äôt be more than 15% of the amount. The lender is allowed 17.65%
in charges every two weeks for its financial operation.
|Illinois||Either 22.5% or $1000 of a person‚Äôs monthly gross income, depending
on which is less.
|Lender is not allowed to charge over $15.50 for every $100 with a yearly fee
limited to just 99%
|Indiana||$500 / 20you‚Äôre your monthly¬†gross¬†income depending on which
|The lender can charge 15% finance charge on $250. Loans over $250 but less
than $400 have a 13% interest limit on the amount. On amounts ranging between $400
and $500 the financial charges are around 10%.
|Iowa||$500||On the first $100 loan the lender cannot charge over $15 in fees. Then there
is a $10 subsequent charge on every $100 increment. 14 day loans have to undergo
a fee of up to around 16.67%.
|Kansas||$500||Lenders can charge 15% on a cash loan. Another 15% can be charged in the way
of finance fee. But not over 3% of the amount once it has matured.
|Kentucky||$500 charge applied to all¬†payday loans.||The total amount in proceeds received from a customer from all differed deposits
cannot be over $500. Lenders are not allowed to charge over $15 as service fee for
every $100. The additional finance fee cannot be over 17.65%.
|Louisiana||$350||$5 is the originating fee. 16.75% or $45 depending on which is less is the
annual charge on the loaned cash advance. There is a 36% annual interest limit.
25% is the finance fee which lenders cannot exceed.
|Maine||N/A||For loans under $250 the interest fee is limited to just $15 but up to around
max $25 for larger amounts. The max is 30%.
|Maryland||N/A||No licensed check cashing company is allowed to indirectly or directly charge
or even collect fees for a check cashing service on the basis of: 33% each year
or just 2.75% depending on which is less.
|Michigan||$600||A lender is allowed to charge a service fee for every deferred presentment
service. This fee is not a part of the interest and lenders can charge both. The
amount shouldn‚Äôt exceed 15% of the initial $100, 14% of a third $100 or around 12%
on the forth, on the fifth 11%. A database verification fee is also allowed under
the section 34(5)
|Minnesota||$350||For a sum of up to and also including $50 there is a $5.50 charge added. Between
$50 and $100 there is a 10% charge plus a $5 admin fee. Of amounts $100 to $250
there is a 7% charge and a $5 fee. Amounts of around $250 to $350 is charged 6%
of the loan proceeds with a min admin fee of $5. The overall contract shouldn‚Äôt
exceed 2.75% after its maturity.
|Mississippi||$400||Lenders are not allowed to charge indirectly or direct a fee or some other
consideration or their act of cashing deposit checks in excess of around 18%. Also
22% additional finance fee may be levied.
|Missouri||$500||The borrower could be charged an interest fee on an amount which is not paid
at the rate which was previously agreed by both parties. A customer is not required
to pay an amount of accumulated interest and also fees in excess of 75%.
|Montana||The minimum loan amount is $50 but the loan cannot exceed $300||A lender is not allowed to charge a fee for making a deferred deposit loan
which exceeds 36% annually, which is inclusive of its insufficient funds fee.
|Nebraska||$500 for every payday loan at any time.||The lender is allowed to charge an amount of $15 for every $100 and $17.65
per $100 for various services provided by the lender.
|Nevada||monthly¬†gross¬†income of 25%||Lender is not permitted to make a loan of deferred deposit over 25% of the
expected gross of the customer‚Äôs monthly salary at the time of taking the loan.
|New Hampshire||$500||A cash loan can only incur interest, charges or fees which are levied on the
cash loans. The interest should not be in excess of 36% a year.
|New Jersey||Prohibited Loans||The law does change every now and then. Keep checking back to stay up to date.
|New Mexico||A charge of 25% of the gross monthly income which includes fees.
||$0.50 is charged as verification fee, the total amount charge is 15.5%. Lenders
are not allowed to issue a payday loan if the total principal sum of the loan and
its fees, when added with the principle is over 25% of the person‚Äôs gross income.
Just one fee can be collected unless a customer willfully agrees to the arrangement
|New York||N/A||Leders are not allowed to charge over $16 for every $100 on the first principal
|North Carolina||N/A||A check cashing company is not allowed to indirectly or directly charge and
or collect fees for cashing check services on the basis of: 36% per year.
|North Dakota||$500||A lender needs to charge a service fee but not over 20% of the total amount
paid. An additional 20% can be charged as interest on the amount.
|Ohio||$500||The interest is calculated according to the USC 1606 guidelines and will not
exceed a 28% annual rate which is exclusive of its 1.08% fee.
|Oklahoma||$500||Lenders can charge an interest fee but it shouldn‚Äôt exceed $15 for each $100
which is loaded which is equal or less than $300 and not be over $10 for each $100
for amounts over $300. An additional finance charge of $15 can also be charged for
|Oregon||A 30% rate from gross monthly income.||Lenders are not allowed to renew or issue a loan over the rate of 36% annually.
This also excludes the registration fee required for new loans.
|Pennsylvania||N/A||Getting a payday cash loan in Pennsylvania is a difficult problem. Right now
laws are geared towards destroying cash advance lenders.
|Rhode Island||For all payday loans $500 at any time.||Lenders are not permitted to charge a check cashing fee over 15% of the
loaned amount. Also additional interest cannot be over 15% of the amount.
|South Carolina||For all payday loans $500 at any time.||Lenders are allowed to charge more fees in addition to their originating fees.
The interest is also limited to 15% of the amount.
|South Dakota||$500||There are no limits on the type and fee amount.|
|Tennessee||$500 usually for a maximum of 3 payday loans at the same time.
||Lenders are allowed to charge $15 as interest for every $100 and the finance
charge shouldn‚Äôt be over $17.65 for every $100.
|Texas||N/A||$10 is the originating fee, $48 is the interest fee for every $100 plus there
is $12 finance charges for every $100.
|Vermont||$500||It shouldn‚Äôt be over 18% of the total year fees.|
|Virginia||$500||$5 is the verification fee, $36 is the interest fee for every $100, and an
additional $20 finance charges for $100.
|Washington||$700 and It should be under 30% of the borrower‚Äôs gross income.
||Lenders are allowed to charge fees as the total amount over $15 for every $100
of the first $500, subsequently $10 for every $100 for amounts over $500. Plus $15
|West Virginia||N/A||The law does change every now and then. Log back in to get the latest updates.
|Wisconsin||35% or $1500 of gross income every month depending on which is less.
||There are no fees amount limits.|
|Wyoming||N/A||Finance charges should not be over $30 or even 20% of the monthly principal
balance depending on which is larger.
There are some American states that do not have any specific lending statutory provisions
pertaining to payday loans. And they do not require that lenders comply with the
interest rates offered by: Maryland, New Jersey, Connecticut, Massachusetts, West
Virginia, Vermont and Pennsylvania. North Carolina and Arizona are allowed preexisting
cash loans statues and laws to sunset.
Before you decide to take out a payday loan, consider some alternatives.
Payday loans (and certain other financing) offered to servicemembers and their dependents must include certain protections, under Federal law and a Department of Defense rule. For example, for payday loans offered after October 1, 2007, the military annual percentage rate cannot exceed 36%. Most fees and charges, with few exceptions, are included in the rate. Creditors also may not, for example, require use of a check or access to a bank account for the loan, mandatory arbitration, and unreasonable legal notices. Military consumers also must be given certain disclosures about the loan costs and your rights. Credit agreements that violate the protections are void. Creditors that offer payday loans may ask loan applicants to sign a statement about their military affiliation.
Even with these protections, payday loans can be costly, especially if you roll-over the loan. You instead may be able to obtain financial assistance from military aid societies, such as the Army Emergency Relief, Navy and Marine Corps Relief Society, Air Force Aid Society, or Coast Guard Mutual Aid. You may be able to borrow from families or friends, or get an advance on your paycheck from your employer. If you still need credit, loans from a credit union, bank, or a small loan company¬†.