Payday Advance Louisiana

If you live in the state of Louisiana and have run into a situation that requires fast cash, then Louisiana payday advance loans may be the solution to your problem. Payday advances are excellent tools to use in order to meet pressing financial needs. A designated amount of cash can be quickly and easily obtained to solve the emergency and, since they are repaid in a short period of time, they do not add a prolonged financial burden.

Payday cash advances can be legally obtained in the state of Louisiana through either in-state licensed lenders or online lenders who offer cash advances to Louisiana residents. However, online lenders must follow the same legal guidelines set by the state as in-state providers.

What are Louisiana Payday Loans?

Payday loans are small cash advances (usually $1000 or less) that can be obtained rapidly in order to meet pressing financial needs or emergencies. They are considered short-term loans and are usually provided at high interest rates and fees, but are repaid quickly. The normal procedure is to repay these types of loans on your next scheduled payday, thus the term "payday loan".

Louisiana payday advances are designed to meet unexpected financial requirements when funds are short or non-existent. These rapidly obtained amounts of cash can be used to pay bills, meet mechanical or medical emergencies, purchase items, take a vacation, or any other event requiring immediate cash.

Process for Receiving Louisiana Payday Loans

Louisiana payday loans are easy to obtain because they are designed to meet critical financial emergencies. Lenders simply require that you fill out and submit a short application form that provides basic information, the desired loan amount (up to the set limit), and the date of repayment. You will also be required to provide information that verifies your current and sustained employment or other form of regular income such as paystubs or bank statements. A current form of personal identification is also required.

Once your Louisiana payday loan is submitted, it will normally take less than 24 hours for approval. When approved, the requested amount of cash is deposited directly into either your savings or checking account. You then are expected to repay the loan plus interest and fees on the agreed upon date by returning to the place of business, direct withdrawal from your bank account, or by providing a post-dated check to the lender during the time of application.

Legal Guidelines Surrounding Louisiana Payday Loans

Approved and licensed in-state lenders, as well as online lenders who follow payday advance Louisiana guidelines; can provide payday loans to Louisiana residents. The maximum amount of Louisiana payday cash advances is $350 and the loan must be repaid within 60 days. The fees and finance charges added by the lender cannot exceed 16.75 percent of the total loan amount. There is also a maximum fee set at $45 plus a documentation fee of $10 is allowed. This equates to an APR amount of 780% on a $100 loan over a 14-day repayment period.

The state of Louisiana does not specify how many payday loans one person can take out at a time. However, no rollovers (extensions) of payday advances are permitted so the loan must be repaid within the agreed upon loan term period. Louisiana allows the lender to charge one non-sufficient funds (NSF) fee plus up to $25 or five percent of the check amount. Court costs and attorney fees can also be applied should the account require litigation to settle.

Where to Obtain Additional Information on Louisiana Payday Loans

If you require further information concerning Louisiana payday advances, you can contact the following office.

© – All Rights Reserved is not a lender, does not broker loans or extend credit to consumers. This website’s sole purpose is to connect consumers who are looking for payday advance loans online.

Not all lenders can provide your requested loan. Cash transfer times may vary between lenders and depend on your individual bank. Repayment terms vary by lenders and local laws. For details, questions or concerns regarding your payday advance, please contact your lender directly.

Residents of Arkansas, Georgia, New York, Oregon, Washington, West Virginia and Vermont are not eligible to apply.