Oklahoma Payday Loans

Oklahoma payday loans have a legal status in the state. The state has specific payday loans legislation. The Oklahoma payday loans law relating to payday advances is pretty comprehensive in Oklahoma. The state allows $500 as the maximum amount of loan that can be borrowed as payday loans. You generally get loans from the companies which are specifically authorized to give these loans under a license. If you are dealing with a reputable company it can not offer you an amount more than $500 because it cannot exceed the legal limit.

The state keeps a cap on the fees or the rate of interest Oklahoma payday loans lenders can charge you. The permitted fee is $15 on the amount borrowed from $100 to $300 for the first time. It is $10 per $100 if advanced in excess of $300. You can get this loan for a minimum of 12 days duration and maximum of 45 days time period. If you borrow $100 for a period of 14 days, the fees that your Oklahoma payday loans lender can charge from you is $15. The APR on this will be 390%.

Oklahoma Payday Loans: Laws & Regulations

Rollovers are prohibited. Rolling over would mean renewing the Oklahoma payday loans. You would pay the fees again each time you renew your loan, without paying off the original loan amount. As a matter of fact, the state’s scheme in not allowing rollovers seems to be borrower friendly. It protects you from unscrupulous lenders charging interest rates which may sometimes be more than the loan amount.

oklahoma payday loans

An Oklahoma payday loans lender is disallowed from having more than two outstanding loans at one time. The cooling off period kicks in on after the payment in full of the 5th consecutive payday loan. The state keeps a database of the companies which are allowed to carry payday loan lending services. This is something unique about the state and Oklahoma payday loans.

Cash America Pawn

This Oklahoma payday loans company offers a wide arrangement of financial services and products from check cashing to tax filling services, insurance and loan facilities such as cash advance loans and pawn loans. They help you in your credit rebuilding and also buy gold. In addition to it they offer prepaid debit cards. You have to furnish to them basic information about yourself to make use of their services. You can visit their branch office at nearest you and apply for a payday loan. Give them a call at 405-525-9403 or visit their website at www.cashamerica.com.

Approved Cash Advance

This Oklahoma payday loans lender offers a variety of services such as title loans, cash advances, tax preparation and tax refund application loans. This lender claims to provide better and more cost effective alternative to outrageous bank fees for dishonored checks or the high cost of using credit cads. All you have to do is fill an easy form which you can get by personally visiting their branch and provide them with basic information about yourself. They have been serving people for more than 5 years. If interested in making use of their services you can visit their local branch nearby. Give them a call at 405-733-0400 or visit their website at www.approvedcashadvance.com.

Loan Mart

This Oklahoma payday loans office offers a wide arrangement of services. Thise include cash till next payday, check cashing services, tax services money transfer and momentum visa. They claim them to be the convenient one stop loan destinations for their customers. This lender claims to operate the largest network of their retail financial services throughout Canada. the U.K. and the second largest of its kind in the USA. They claim to offer fast services at convenient locations with extended operating hours for their customers. You are supposed to provide with very basic information about yourself and your eligibility would depend on your income. You can apply for a payday loan by visiting their local branch. Give them a call at 405-843-1428 or visit their website at www.moneymart.com.

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