Oregon Payday Loan Laws and Regulations

Find out if short-term Payday Loans are legal in Oregon and what amounts, interest rates and repayment terms are set by the state's Legislation.

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Oregon Payday Loans Rates and Terms

Legal Status

Legal Status

The status of a loan type according to the Federal laws and regulations. What concerns Payday Loans some states consider them legal, some – illegal and some restrict them in terms of amounts and interest rates.

Maximum Loan Amount

Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

Maximum Loan Term

Maximum Loan Term

It’s the maximum period of time within which you are to allowed to pay off your loan.

60 day(s)
Minimum Loan Term

Minimum Loan Term

It’s the minimum period of time within which you are allowed to pay off your loan.

31 day(s)
Maximum APR

Maximum APR

The maximum percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

Finance Charges

Finance Charges

All the payments you’re going to be charged for the loan including APR and other fees.

36% APR

Study the laws, rules and regulations concerning Payday Loans and other short-term cash advance in Oregon. Apply for a Payday Loan online being safe and secure.

Compare top legit Payday Lenders in Oregon:

Table of Contents:

Are Payday Loans legal in Oregon?

Oregon Payday Loan Terms and Amounts

Oregon Payday Loans online laws

Oregon Payday Loans interest rates, fees and other finance charges

Oregon Payday Loans direct lenders regulations

Oregon Payday Loans consumer information

Legitimate Payday Loans online with NO credit check in Oregon

Does Oregon law allow Payday Loans for bad credit borrowers?

Legit Payday Loans in Oregon collection practices

Oregon Payday Loans news  - latest changes

Oregon Payday Loans historical background

Oregon Payday Loan alternatives

Are Payday Loans Legal in Oregon?

Short-term Payday Loans are legal in the state of Oregon and are mostly regulated through Chapter 725 and Chapter 725A. The Payday Lending legislation covers all the parts of the process concerning:

  • Payday Loan amounts
  • Payday Loan repayment terms
  • Payday Loan online direct lenders
  • Payday Loan stores near you
  • Payday Loan interest rates and other fees
  • Payday Loan collecting practices
  • Payday Loan default penalties
  • The number of outstanding Payday Loans as well as a cooling-off period in-between etc.

Read more: Payday Loans in Oregon

The eligibility criteria for Payday Loans in Oregon are:

  • US residence
  • Minimum regular income of $1,000 per month
  • Valid checking or savings account with direct deposit
  • Phone number and e-mail address

Oregon Payday Loan Terms and Amounts

Oregon allows maximum $50000 Payday Loan amount. It should be repaid within 31 - 60 days as you get your next paycheck. Earlier payments don’t contemplate any additional fees. You are likely to be charged $13 for 31 day $100 loan taking into account the maximum APR of 36.00%. For other details read further to find out how many Payday Loans you can borrow, whether rollovers or extensions are allowed, etc.

However, there are no limits on the purpose of loan usage. Any urgent expenses, unforeseen bills, car repair, home repair, etc. may seem a sound reason to apply for a Payday Loan in Oregon.

If $50000 is not enough, there are always other options to receive the necessary funds in Oregon:

  • Unsecured Installment Loans,
  • Bad Credit Personal Loans,
  • Title Loans,
  • Check Cashing,
  • Pawn Shops, etc.

Oregon Payday Loans online laws

Cash advances (payday loans) from both storefront and online lenders are legal in the state of Oregon. Still the lenders need to be licensed and operate according to Chapter 725 and Chapter 725A. 

A list of reputable state-licensed Payday Loan online lenders in Oregon includes:

California Check Cashing Stores LLC
dba Cash & Go Dublin OH

Chicago, Illinois

Check Into Cash
Cleveland, OH

Loan by Phone of Oregon LLC
dba Check Into Cash

Quik Check Financial Inc.
Multiple Oregon locations

Know your rights and responsibilities, read the fine print, and if you don't understand something, do not sign the paperwork. If you have a complaint, call 1-888-877-4894 (toll-free)

Oregon Payday Loans interest rates, fees, and other finance charges

The main part of the payday loan payment is mostly made up of the interest rate, or APR. The maximum APR that may be charged for short-term cash advance in Oregon is 36.00%. It means that if you borrow $100 Payday Loan for 14 days the finance charges will be 36% APR.

Besides, the total cost of a Payday Loan includes some additional fees. Oregon lending rules allow to charge $20 NSF fee.

The law obligates Oregon Payday Loan lenders to provide you with a written disclosure of all the rates and fees in the understandable language. You should read them carefully and if you agree to acknowledge the notification by signing the contract.

Oregon Payday Loans direct lenders regulations 

According to Oregon payday loan laws all direct lenders are obliged to register their companies which will allow issuing payday loans contract. It concerns both Online Payday Loans and Payday Loans Near Me.

The main rules regarding Payday loan lenders in Oregon state that they can:

  • Issue only one loan at a time
  • Charge up to $20 NSF fee 1 bounced check fee
  • Give you a contract typed in a language you understand
  • Display license & fee structure at each location

But Oregon Payday Loan lenders are not allowed to:

  • Threaten you for late payments or loan default
  • Approve you for a new loan to repay the current loan
  • Charge extra fees for an extension of the repayment plan
  • Provide another loan when current one is unpaid

Nevertheless, you should be careful not to come across any scams. Some unfair lenders can operate without license or under a different license and offer too expensive ‘payday loans’ under illegal conditions. Always check that the lender you are going to apply to works under Oregon state law.

Oregon Payday Loans consumer information

Besides amounts, rates and fees, consumers must be also well aware of other details of Payday Loans in Oregon. They include the availability and number of rollovers, extensions and repayment plan, a cooling-off period, any default penalties or additional fees, etc. Check out the table below to find the most essential information:

Rollovers or extensions2 renewals or extension plan
Cooling-off period7 days
NSF fee$20 NSF fee
Criminal actionsProhibited

Look for more detailed information on the official Oregon state regulator website - http://dfr.oregon.gov/Pages/index.aspx.

Legitimate Payday Loans Online with NO credit check in Oregon

Looking for a legal Payday Loan with No credit check in Oregon? You must understand the meaning of this phrase correctly at first. No credit check implies that a lender will not inquire about your credit history information from or send your borrowing data to any of the three major credit bureaus Equifax, Experian and TransUnion.

If you don’t want to damage your credit history Oregon law allows you to apply for a Payday Loan with No credit check. But you should understand that a lender needs to check your creditworthiness at least in some way. He can perform a soft credit check when a lender pre-approves you for a loan and this inquiry will not appear on your credit report. Or there’re other ways to prove you can afford the cash advance. Payday Loan lenders use the tracking system to verify your debts, check your income, etc. And generally, they charge higher interest to lessen the risks.

Oregon Payday loans online no credit check is one of the easiest options of getting quick cash to cope with emergency financial requirements, especially for the people with poor credit.

Does Oregon law allow Payday Loans for bad credit borrowers?

The average credit score in Oregon is 688, placing it in the good range. But it doesn't mean that those who have a worse credit can't apply for a Payday Loan in Oregon. 

  • First of all, There're a lot of legit direct lenders in Oregon providing Payday cash advance to borrowers with both good and bad credit score.
  • Secondly, you can always find a cosigner to increase your chances of being approved for a bad credit Payday Loan.
  • Find out how to improve your credit score and do your best to do it fast. 
  • Or consider taking out a bad credit Installment Loan, or bad credit Personal Loan.

Legit Payday Loans in Oregon collection practices

If you can’t repay the loan amount plus interest on a due date it means you default the loan. When Oregon direct lender isn’t able to cash your check after the repayment term is over he may charge you an NSF fee. NSF fee means there are non-sufficient funds on your account. The amount charged is determined by the lender and stated in the agreement and may also be limited by the state’s Payday Loan law. In Oregon it’s $20 NSF fee.

What concerns collection practices, first of all, you may stay assured that any criminal actions are forbidden in Oregon. 

If you think that your payday lender violates the Oregon Payday Loans law, you may file a written complaint with Oregon Department of Consumer & Business Services by address: Division of Financial Regulation, 350 Winter St. NE, Rm. 410 Salem OR 97309, or by phone: 866-814-9710. The supervisor from that office interviews witnesses, reviews the payday lender’s business records and documentation, and determine whether to pursue civil or criminal charges

Oregon Payday Loans news  - latest changes

The Oregon Department of Justice (DOJ) led by Attorney General Ellen Rosenblum do their best to protect the residents of the state from predatory practices. 

Oregon law currently imposes certain limits on payday loans. For instance, in Oregon origination fees and renewals are limited, the APR is capped at 36% per year and the loan duration must be for at least 31 day(s), but not longer than 60 day(s) days. Additionally, payday lenders must provide consumers with loan agreements that clearly explain all the fees, interest rates, payment due dates and consequences of late payments and defaults. CFPB’s proposed payday and high-interest loan rules will complement Oregon’s existing laws.

Oregon Payday Loans historical background

The history of Payday Loans in Oregon
1998Payday Loans were not limited anyhow, on average they cost from $15 to $20 per $100, with APRs for 14-day loans of 391% to 521%.
2006Payday Loans to the military were capped at 36% APR.
June - July 2007Some restrictions were set: the interest rate was capped at 36%, APR lowered to 156%, the minimum loan term extended to 31 days.
June 18, 2015All the state Payday lenders had to be licenced.
June 2, 2016A Payday Loan Rule was proposed.
2016According to the data collected from regulators, there were 66 licensed lenders in Oregon.

Oregon Payday Loan alternatives

If you're looking for instant cash advance in Oregon but not a Payday Loan, consider other alternative ways to get the necessary funds:

  • Apply for Oregon Installment Loans - $1000 - $5000 cash advance repaid over several months or years in equal installments.
  • Take out a Car Title Loan if you own a vehicle to use as collateral.
  • Sell some of your valuable stuff online or at a pawn-shop.
  • Consider borrowing from a bank or credit union. In Oregon there're numerous Federal Credit Unions offering Payday Alternative Loans: Oregon State Credit Union, Oregon Community CU, Unitus Credit Union, etc.
  • Qualify for one of Federal or Oregon government assistance programs: Temporary Assistance for Needy Families (TANF), Family Support and Connections, Job Opportunities and Basic Skills (JOBS) program and many others depending on your needs.