Florida Payday Loan Laws and Legislation
Payday lending issue is viewed differently in every state. Certain laws regulate it and there are states that prohibit the operation of such companies. Others introduced strict limitations on such operations. Wisconsin has introduced a limitation of $600 while South California does not allow more than one payday loan at a time. Certain rules refer to Florida payday lending as well.
State of Florida according to the Fl. Stat. Ann. § 560.401 et seq. and Rule 69V-560.901-912 considers payday lending legal.
In Florida it is forbidden to lend more than $500 at a time. The Florida Office of Financial Regulation urges not to exceed this limit as it is illegal. One more limitation stated by the Office is that a person is not allowed to get more than one payday loan at a time. The loans are given for a period of 7-31 days and these terms should be adhered to.
Lenders are prohibited to charge more than 10% fee from the borrowers, however, they are allowed to charge verification fee depending on the size of a loan. Generally, finance charge for payday loans for amount of $100 given for a two-week period cannot exceed 15%. APR equates to 390%.
Rollovers are not allowed in Florida - so all the borrowed loans should be repaid in time. However, there are repayment plans offered on demand by the lenders.Criminal charges are prohibited in the state of Florida and a lender cannot take any actions of the kind to the borrower who is unable to repay.
Payday lending is available both to the residents of Florida or to those who think of moving here. This service is legal here and very high in demand as there is always necessity in cash. There are situations when unexpected bill arrives or someone in the family gets sick and needs medical help with all the forthcoming expenses... The list is rather broad and it is very stressful when you have no cash saved for such purposes. There are a lot of families that live from a paycheck to paycheck and payday lending can be a great help for them in similar situations.
4paydayloan.com is ready to offer their services to the clients who need cash fast. We provide secure and convenient operations and you will get the money you need in no time just by filling in the form and submitting.
Payday Loans Offered: Yes
Max Loan Amount: $500, exclusive of fees
Loan Term: 7-31 days
State Regulator Information:
Florida Office of Financial Regulation
Division of Securities and Finance
200 E. Gaines Street
Tallahassee, FL 32399
Phone: (850) 410-9805
Disclamer: 4paydayloan.com is not a lender and does not broker loans. This website collects information which you provide and then forwards it to one more or lenders in our network. Individual lenders make the loan approval decision and determine the terms and conditions of each loan agreement.
4paydayloan.com may share the information which you provide at any step of the application process with third parties, including members of its lender network and other third party lenders with whom it has a marketing relationship.Payday lenders may perform routine credit checks and will normally verify all of the information which you supply on the application.
Submission of personal information is strictly voluntary and does not guarantee that you will be matched with a payday lender or will receive a payday loan. Not everyone will qualify for a payday loan.Not all lenders are able to provide the maximum amount of 1000$ in cash funds.
Cash transfer times vary among the different lenders and not all offer one hour transfer service.Payday loans are not available in all 50 states and the list of participating states may change at any time and without notice.