Payday loans in Tennessee

Legality of payday advance in Tennessee

All applicants looking to receive a payday advance in Tennessee should remember that this sort of activity is totally legit. All the details about legit payday loans in Tennessee are reflected in the credit document Tenn. Code Ann. 45-17-101 et seq. Note that the max amount of a short-term loan is $425 ($500 check), while the borrowed funds should be paid back within 31 days. The creditor will charge a commission of 15% of the face value of the check.

How many payday loans can you have in Tennessee?

The legislation regulating a payday loan in Tennessee allows taking 3 (2 per licensee) to a maximum of $500 face value of check/s. After receiving the first credit, there is an option to simultaneously take another loan from the same lender until you return the money at a given location and within the indicated period. This is since the credits are for a short period and minor amounts.

Direct payday loan lenders in Tennessee

How can you apply for online payday loans in Tennessee?

The procedure is simple, and the process does not include filling out many papers. Customers should meet the listed requirements to get an online payday advance in Tennessee:

should be over 18 years old;

be a US citizen;

provide a phone number and email address;

have the regular income proof or required level of earnings;

have a bank account to which the platform will transfer funds;

have a valid ID document.