Payday loan help for Kansas people
Top Queries
- How do I know if a lender is licensed to offer payday loan in Kansas?
- What are the other facts that the lenders should be obliged to?
- What if the check returns from my financial institute?
- Where to forward my queries and complaints?
How do I know if a lender is licensed to offer payday loan in Kansas?
Browse the latest list of approved lenders on the website of the Office of the State Bank Commissioner.
What are the other facts that the lenders should be obliged to?
Licensed or supervised lenders may loan maximum $500.00 and financial charge may not exceed 15% of the face value of the loan.
Loan term may vary from 7 to 30 days. Lender shall not have more than two outstanding loans with the same borrower and shall not offer more than three loans to the same person within 30 days.
What if the check returns from my financial institute?
Lender can charge NSF Fees, however, no criminal prosecution is allowed. At any point the fee should not exceed $30.00. Lenders should also stamp the back of all the checks received during payday loan/cash advance transaction that states: "Negotiated as part of a loan made under K.S.A. 16a-2-404. Holder takes subject to claims and defenses of maker. No criminal prosecution."
Where to forward my queries and complaints?
All the queries and complaints should be forwarded to the Office of the State Bank Commissioner.
