Payday loans in Colorado

Legality of payday advance in Colorado

Payday advance in Colorado is a legalized and safe practice. Colo. Rev. Stat. 5-3.1-101 et seq. introduces the basic information about legit payday loans in Colorado. All residents of Colorado State who are over 18 years old can send a request for a short-term loan of a maximum of $500. The individual is to return the borrowed sum after at least six months. Be prepared to pay the creditor the individual commission of no more than 36%.

How many payday loans can you have in Colorado?

The regulatory system defining the payday loan in Colorado allows state residents to take the money from offline and online lenders. There is no limit if total debt does not exceed $500 and 30 days between loans. Multiple loans received simultaneously are not allowed. The borrower can expect to receive another credit after 30 days have passed since the day he or she received the previous loan.

Direct payday loan lenders in Colorado

How can you apply for online payday loans in Colorado?

Save your time by filling out an online application form. The procedure does not involve a thousand additional nuances that eat up your time. Customers must meet the following requirements to have their request for an online payday advance in Colorado approved:

they are over 18 years old;

they obtained U.S. citizenship;

they are ready to present a permanent address, email address, and phone number;

they can prove that their income is regular and that their earnings are sufficient;

they have a bank account to receive the funds;

their ID or driver’s license is valid.