Are Payday Loans legal in my state?

Short-term loans are those which are given for the period less than a year. Payday loans refer to this kind as their repayment term is 14-30 days. They are under special control and regulations of the Government because of rather high APR. So cash advance can be legal, somehow restricted or prohibited in a state. The legal status of Payday , Personal or any other short-term Loans varies according to the state. In the USA:

  • 18 states prohibit them completely, Arkansas, New Hampshire, South Dakota, Arizona, North Carolina cap the rates to a very low amount (36%). The states of Connecticut, Maryland, Massachusetts, Pennsylvania, Vermont, West Virginia and the District of Columbia never authorized short-term cash advance. New York, Georgia, New Jersey prohibit it.
  • 3 states permit lower-cost payday loans. Maine, Oregon and Colorado permit loans at lower rates (about 150% APR).
  • 32 states consider even high-cost loans legal. They are Alabama, Alaska, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

Even if Payday Loans are prohibited in your state you still have a lot of options to get the money. 


NEED A LOAN? Apply online for a Payday loan in your state!

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