п»їп»ї A payday loan is a tiny, unsecured, high interest, short-term advance loan. In many situations, customers compose a post-dated, individual check for the advance quantity, plus a charge. The loan provider holds the check when it comes to loan duration then deposits it, or the client returns with money to reclaim the check.
In This Guide:
- Fast Factual Statements About Pay Day Loans
- Who Licenses and Regulates Payday Lenders in Washington State?
- Filing A issue Against A Payday Lender
- Maximum Loan Amount and Terms
- Tribal Loan Providers
- Web Payday Lenders
- List Before Using Out That Loan
- Your Rights As A Washington Resident
- Additional Resources
Fast Information About Payday Advances
- You could just borrow an overall total of $700 or 30percent of one’s gross month-to-month earnings, whichever is less.
- Your details will likely to be registered in a state-wide database, making certain all payday loan providers have your many loan information that is up-to-date.
- You may possibly just just simply take 8 payday advances per 12-month duration.
- You may request an installment plan with no additional fees if you are unable to repay your loan before your loan is due.
- You may not receive another loan if you currently have an installment plan.
- Loan providers may well not harass or intimidate you online installment loans whenever gathering financing. If you’re harassed, contact DFI and register a grievance.
Who Licenses and Regulates Payday Lenders in Washington?
The Washington State Department of Financial Institutions (DFI) licenses and regulates payday lenders and the payday loan industry in Washington State.