Payday Loans Oregon
Oregon State – Payday Loans Information
Payday loans Oregon 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 (Lower Cost)
Maximum Loan Amount: $50,000 (Loan limit up to 25%of borrower’s net monthly income if earns $60,000 per year or less.)
Loan Term: 31 to 60 days
Maximum Finance Rate and Fees: 36% APR interest, one-time $10 per $100 of loan origination fee, up to $30
Finance Charge for 14-day $100 loan: $13 for 31 day loan
APR for 14-day $100 loan: 154% APR for 31 day loan
Maximum Number of Outstanding Loans at One Time: No Limit
Cooling-off Period: 7 days after prior loan expires
Repayment Plan: N/A
Collection Fees: One $20 NSF fee + additional bank charges
Criminal Action: None, only civil penalties
Call for Cash: +1 (855) 462-5019
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