Payday Loans California
California State – Payday Loans Information
Payday loans California are made by payday loan stores, check cashers, and pawn shops. Some rent-to-own companies also make payday loans. Loans are also marketed via toll-free telephone numbers and over the Internet. All a consumer needs to get a payday loan is an open bank account in relatively good standing, a steady source of income, and identification. Lenders do not conduct a full credit check or ask questions to determine if a borrower can afford to repay the loan.
Legal Status: Legal
Maximum Loan Amount: $255 if maximum fee charged ($300 maximum check)
Loan Term: Max 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
Maximum Number of Outstanding Loans at One Time: One
Cooling-off Period: N/A
Repayment Plan: Voluntary (no fees may be charged in conjunction with repayment extension)
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Call for Cash: +1 (855) 462-5019
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