Florida Payday Loans and Cash Advances
Are you in a very tight place where the money is concerned? It happens to so many these days with the latest developments in the world. We can help you make it till you get paid with payday loan services in Florida available within several clicks.
Payday loans are short-term solutions with high-interest rates, but unparalleled consumer value: unlike other forms of personal loans, they are available to everyone with regular income, no matter how low that income is and how bad your credit history may appear. Payday loan lenders in Florida we can connect you with charge minimal fees, abide by the law and are prepared to approve your application no matter how delinquent you were with your previous repayments.
Are payday loans legal in Florida?
Payday loans in Florida are legal and regulated by the state, which prevents lenders from usury. The regulations called to limit the fees fix APR at the maximum of 419%, which is of course very high compared to other types of loans, but since you will only take out a loan for a short time, you will not pay an arm and a leg – at the end of this article, we provide some examples of how much this will actually cost you.
No rollovers are allowed by the state of Florida, so you will not end up churning your debt. There is a cooling-off period of 24 hours, which means you will need to wait out this time before you apply for a new loan. The maximal fee applicable to every $100 borrowed is $16.11.
How to get a payday loan in Florida
At our website, we have an application form where we collect the information about you and your query and transfer it to the best lenders in the state, conspicuously and discreetly. Our company has established trustful relationships with low-cost payday loan lenders in Florida, as well as consumers who rely on being approved for a loan of up to $500 even with a bad credit history behind their back.
Make sure you apply as a resident of Florida, and a majority age U.S. citizen. You also need to be able to prove your source of income (salary, benefits package, etc.). You are done! Wait for a few minutes for the decision, and get your money as soon as a few hours to one night later!
What are the minimal and maximal loans I can count on in Florida?
You can take out a loan of up to $500, no minimal loan registered in the law; you will need to repay it within the ensuing 7 to 31 days. If you cannot repay your debt on time, the credit can be canceled and grace period can be extended by up to 60 days, according to the state regulations.
What motivates Florida citizens to apply for a loan?
Lenders are not concerned with what you take out your loan for, it can be a new motorbike, a wedding gift for your cousin or a utility bill. Most customers in Florida face the necessity to pay extra cash for something unplanned and unforeseen, such as a breakdown of an expensive piece or a household appliance they cannot do without, or a medical emergency.
Users often ask us:
How many payday loans can you have in Florida?
At any given moment, borrowers in Florida are allowed to have only one outstanding debt.
What is the statute of limitations on payday loans in Florida
The government regulates short term money lending through Fl. Stat. Ann. §§ 560.402 et seq.
Why not use payday loans in Florida?
Before you take out a payday loan in Florida, consider that the APR for this kind of service is very high, and the state allows lenders to charge up to 419% in APR fees. At our service, we are dedicated to finding payday loan lenders in Florida with the lowest fees on the market.
Here is how you calculate APR for your loan
- With an APR at say, 400%, you will have to pay 1,09% in interest rates per day (400% / 365 days in the year)
- For 31 days, you will pay 31 x 1,09% = 34% (rounded from 33.97% for the calculus simplicity)
- Turn 34% into a number (0,34) and multiply the result by the sum of the loan, let’s take $500 for example: 0,34 x $500 = $170 (to be paid in fees)
- Sum up the outstanding loan and the applicable fees you will pay on the maturity date: $500 + $170 = $670
Those were the maximal fees; let’s calculate charges for a lender we find for you with much lower APR following the same steps:
- Loan Amount: $300
- Loan Term: 15 days
- APR (Annual Percentage Rate): 319%
- Total Repayments: $339.32
- Cost of Loan: $39.32
For every question that has left unanswered for you after reading this article, we are prepared to answer if you contact us using the respective page on our website. Do not hesitate to reach out, you can get up to $500 to your account already today if you act fast!