Are you live in Indiana? You can be approved for a payday loan in 738 cities of Indiana! Enter your e-mail address, click "Start Now" button, fill out an online payday loan form and get money transferred to your bank account!
The best way to obtain Indiana payday loans is by arming yourself with information regarding short-term borrowing laws in the state. With this information on hand, you can be sure to find legitimate lenders, letting you get the most out of your loan. This is exactly what cash loans aims to provide as this page offers a comprehensive guide on Indiana cash loans. Currently one of the states legalizing the transaction, Indiana has set up several laws to ensure fairness among lenders and borrowers of the industry.
Payday loans are legally binding transactions that must meet the minimum requirement of the state. For this reason, borrowers must fall within the stated conditions before they are considered for the short-term loan.
Some of the requirements may be variable, depending on the specific rules set up by the lender. For example, some people can borrow funds even if they are already in retirement and simply waiting for their check. Typically, minimum salary requirements also vary from $800 to $1000, therefore allowing you to choose the lender that best fits your needs.
All payday loans in the state of Indiana are subject to the following requirements and limitations.
Borrowers are not allowed to rollover their loan, refinance it or even consolidate the amount. However, borrowers that find themselves obtaining 3 consecutive loans are given extended payment period to help them recuperate. Indiana law states that the payment plan must be done through four installments without adding to the payable amount. To further prevent borrowers from relying heavily on lenders, a cooling-off period of 7 days is enforced after using 6 consecutive loans.
If you feel the need for information not provided on this site, you can always go directly to Indiana’s payday loan regulating body. Currently, the Indiana Department of Financial Institutions is the sector that deals with short-term loans within the state.
Address: 30 South Meridian Street, Suite 300 Indianapolis IN 46204
Phone: (800) 382-4880
Look for: Mark Tapey, Supervisor for the Consumer Credit
The regulating board is also open for questions and complaints through the internet. As a consumer, we encourages you to find out as much as you can about Indiana payday loan laws before pursuing a transaction.
As an alternative to payday loans, Indiana residents can also borrow directly from their friends and family. Employees can also go directly to their boss for an advance to their salary. If you have unused items, pawning the product or directly selling it might provide enough funds. Credit cards and bank loans also have low interests rates that can be paid on an installment basis.