Utah Cash Advance Consumer information

Payday Loan usage info:
6% (six percents)
Short term loan permit:
Authorized
Legislation:
7-23-101 et seq
Maximum loan amount:
Minimal and maximal amount are not regulated by state laws.
Cash loan period:
Ten weeks
Fees:
According to the state law

If you’re thinking about getting cash advance loans from Utah, the first thing to think about would be the regulations that govern the transaction. We provide consumers with complete data about UT regulations that should guide you during the transaction. All the information provided here are updated and accurate to ensure the protection of borrowers. For data regarding other states, feel free to browse indian reservation loans website. Comments and questions are appreciated.

Payday Loan Process in Utah

The first things you need to do when applying for a payday loan is ensure that you meet all lender requirements. After this, you can send the documents and wait for an approval followed by the deposit of cash. The most basic conditions for a loan include

It only takes 1 day or less to receive an approval from lenders. A bad credit history shouldn’t stop people from obtaining a cash advance loans. They also entertain short term loans based on welfare or from those already in retirement.

Utah Payday Loan Laws and Regulations

All lenders are obliged to operate under the following laws:

Collection fees enforced for each transaction is left unspecified. For this reason, the cost might be left to the discretion of the lender. The number of rollovers allowed is not specified although it cannot be extended or renewed for more than 10 weeks, counting from the first day of the first loan.

Utah Consumer Protection

Problems and complaints on any payday loan transaction are handled by the Utah Department of Financial Institutions. The organization is always ready to clear up misunderstandings and provide borrowers with clear cut information regarding their specific transactions. The regulators can be contacted through the following means:

Borrowers are advised to further protect themselves by being knowledgeable with the laws involving their transaction. By arming yourself with legal knowledge, you are more likely to avoid seedy lenders.

Utah Payday Loan Alternatives

Individuals skeptical about Utah payday loans can easily obtain cash through other means, depending on their specific requirements. A good option would be going directly to your employer and asking for a cash advance. Individuals can also go online and sell some assets or pawn them off. Some people prefer asking for a loan from their friends or relatives since there’s zero interest rate involved. Bank loans are also a possibility but best saved for large monetary needs.

Follow your City in Utah