Dear Community,

After spending so many days with you all and reading the queries posted here I felt that payday loan laws should be brought under one roof to help members. The site paydayloaninfo.org has already done a good job in this connection, but the thing is I cannot ask question about the summary available there, nor can I modify them if there is any scope.

So I thought to use the wiki application to summarize the state laws. I spent last few weeks reading State Codes for "Deferred Presentment Service", "Check Cashers" or, "Money Transmitters" (legal terms of payday loan/cash advance). After reading the codes I have tried to summarize them in a friendly language. I am not a lawyer, so there may be some mistakes; feel free to amend it if you feel so.

However, I could complete up to Mississippi starting from Alabama. I would be working on the rest of the states as well. Still I am posting links to all the state pages here so that any of the community members can share the work and enhance the whole process. Do not hesitate to send me email/PM/QM, I will be happy to help you on finding the right resources!

Laws related to payday loans for all the states
<table><tr><td>

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky

</td><td>

• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Missouri
• Montana
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota

</td><td>

• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Vermont
• Virginia
• Washington
• Washington, D.C.
• West Virginia
• Wisconsin
• Wyoming

</td></tr></table>

What if the lender lends more than the max amount? In my state, MN, you can't lend more than $350. Yet cashnetusa is licensed in my state, but lent me $700!

Good job, Stanley!! I have added this topic in my bookmark.

Guest, the lender cannot offer more than the maximum amount fixed in a state. By offering more than the permissible amount, the company is violating the laws. You need to dispute on the contract and mention it to your state attorney general.

Hey Stanley,

I am new to this and for some reason I cannot access the link to Texas. It asks me for a password and when I put mine in it does not accept it. Can you post the information for Texas please. Thanks for your help.

Pinkflutter, I haven't compiled the laws of Texas yet, I could only complete up to MS. Soon I will work on it, stay tuned.

Thank you so much!! This is very helpful!!!

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Live, love, and laugh today for tomorrow may never come.

Thanks for posting this but I still can't figure out maine laws. Can you help?

hello,
so weird, the link to texas opens at times and doest not open at other times, is it from my end? Thanks

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Successful debt reduction starts with a plan and ends with success. "im on my way to success My blog on how to get out of debt

wisconsin is a blank page, help

hey thanks for this, this is just what I need right now! learning more about financial laws is hard..

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Debt Relief

thanks 4 posting each state's info... in this year alone i have taken a few payday loans to satisfy my mortgage. i now have a warrant out for my arrest for fraud checks... i am willing and able to pay back the loans at this time... what should i do?? what are the laws in south carolina???

igamara - check your original post! Lots of people replied, it all looks like fraud on their part not yours. You need to reply and give them more info!

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Life is an Albatross

I don't see AIP, ameriloan and PayDay Services listed as being licensed in Virginia. Does this mean they loaned me money illegally? Or are they trying to get away with going by the laws in their home states?

Sheep15

I don't see Ohio (blank page). Thanks

Ohio State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Ohio Rev. Code Ann. §§ 1315.35 et seq.

Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources:
Consumer Complaint Contacts (Non-Depository Institutions)


Brochure: "Payday Loans"

Is there any information for New York state? All I get is a blank page... Thanks!