Payday loans in Louisiana

Legality of payday advance in Louisiana

As the law states, payday advance in Louisiana State is fully approved by the authorities. To know the details about legit payday loans in Louisiana, see the credit document La. Rev. Stat. Ann. §§ 9:3578.1 et seq. It was mentioned above, the sum of a short-term loan cannot exceed 350 USD. You should pay back borrowed funds within 60 days. The creditor will charge you a commission of 16.75% of face-value of check. Also, the system charges a 10 USD documentation fee. Bear in mind that there are additional details. After default, the commission rises up to 36% per year during 1-12 months. If the period is of 13 months and beyond, there is 18% per year.

How many payday loans can you have in Louisiana?

Payday loan in Louisiana state regulatory system permits taking loans via online platforms. The amount of loans is determined by the service. After receiving the credit, you return the money at a given location and within the indicated period. The reason is that the credits are for a short period and minor amounts.

Direct payday loan lenders in Louisiana

How can you apply for online payday loans in Louisiana?

The procedure is not complicated, and online applicants do not need to waste time or fill out piles of documents. Individuals willing to receive online payday advance in Louisiana should meet the following requirements:

should be over 18 years old;

be a US citizen;

provide a permanent address, phone number, and email;

have the regular income proof or required level of earnings;

have a bank account to which borrower will receive money;

have a valid ID or driver’s license.