Florida Payday Loans With Trust
Payday Lenders in FL Bring Value
When it comes to states that understand the value that the cash and finance industry brings to consumers, Florida ranks very high for its intelligent handling of its regulation and management of the industry within its state. Realizing that the cash advance service is one that is much needed by the average consumer, Florida set out to establish a level playing field for companies that were seeking to become active in state. By creating a proper setting in which to do business, the state has created fertile ground for viable businesses involved in the industry to come in and set up shop. This creates a situation of accessible cash for the citizens of the state, additional tax revenue for the state itself and increases the number of jobs available in the state as well. As another white-collar service industry moves into the state, the void left by the loss of some industrial commercial tax payers will begin to fill. Additionally, the state gains the benefit of a greener outlook as opposed to its former industrial tenants.
Florida Payday Loan State Laws
Florida Statute Ann. § 560.401 et seq.; Rule 69V-560.901-912, was enacted some time ago to both attract and oversee the actions and operations of Florida payday loan services. The statute sets certain limitations and capabilities for these companies, while offering rights and responsibilities to both the companies that lend the money and the consumers who borrow. The following is an outline of the rules set forth by the state to govern Florida payday loans, and assure that the best possible setting for fair and active lending is properly provided. The rules outlined in the question and answer format below may be altered from time to time by the state, and should be checked and confirmed for current accuracy:
How much can you borrow from Florida Payday Lenders?
How much money can one borrow through a cash advance in the state of Florida? While $500 is the absolute maximum for Florida payday loans, consumers should always look at their own individual scenarios to determine what their own maximum borrowing limit should be. One must consider the fees and interest attached to a loan, and determine whether or not you will be able to comfortably pay this amount out of here next check without putting yourself further into the hole, and needing to borrow even more money to dig your way out. If your next paycheck, for example, is seven or eight hundred dollars, it may not be wise to borrow the maximum $500, considering that after repaying the $500 plus appropriate fees, you will be likely to be left with very little to pay whatever current bills may be due at that particular time. A rule of thumb for borrowing might be (if at all possible), to try and stick to borrowing only the minimum amount that you may need, and to do it at a point where you're leading up to and unencumbered paycheck - meaning that no other bills will need to be paid out of your next paycheck.
Florida Payday Loan Fees
How much do Florida payday loans cost in terms of fees? The maximum allowed finance charge for a 14 day loan of this type in the state of Florida is $15 for every one hundred dollars that is borrowed. For the maximum payday loan in the state, this amounts to a $75 finance charge for a $500 loan repaid within 14 days. In addition to the finance charge, there may also be up to 10% charge in finance fees plus a verification fee. There are, of course limits to all of these areas rates to protect the consumer from exorbitant expenses related to borrowing the short term funds. For specific finance charges and fees, one should always inquire among the various companies that you are considering borrowing funds from; as the old adage goes "you better shop around." By checking rates from a few different Florida payday loans companies, you're likely to find that some are indeed less expensive than others. Doing a quick price comparison among three or more companies will most often result in significant savings - just as shopping around for any other deal.
Number of Loans Allowed in Florida?
How many loans am I allowed to take out any one time? To protect the consumer from the harsh realities that can come out of combining more than one loan at a time, the state of Florida only allows an individual to obtain one cash advance at any given time. Legislators, in a moment of wisdom and clarity, decided that it would be best to place this limitation on the consumer so that they would not be able to dig themselves so deep into debt that they would not possibly be able to see daylight. This particular rule also precludes the consumer from obtaining a secondary loan to pay off the first loan; in disabling this particular ability in the state, legislators were focused on cash advances becoming a never-ending cycle for consumers, if they were allowed to use one loan to pay off another. By keeping things simple and allowing one loan to be paid off at a time before another is obtained, consumers are able to see clear daylight between loans.
Diverse Loan Services Provided in FL
Often times we find ourselves in need of cash as fast as possible, so our Florida 1 Hour Loan service would better suit our FL customers. Another service we offer is our Florida Refund Anticipation Loans. A Florida Refund Anticipation Loan would best be used by those who can't get approved for other short term loan options because they have previously or recently defaulted on a short term loan and can therefore only qualify by providing collateral when applying for loans in FL. Another reason people choose Refund Anticipation Loans is due to the low rates. However, an Refund Anticipation Loan in FL requires that you have title to an automobile that is paid off or has a significant amount of equity built up. Yet another provided loan service in Florida is the Line of Credit. A Line of Credit in Florida is a flexible installment loan that allows those in FL to borrow against an approved loan amount, as needed, or to re-borrow money once it has been paid back, simply by submitting a request. As you can see, Green Leaf Loan Group provides many loan services for those in FL. If any of these other available Loan Services in FL interest you then select the desired option from the Loan Services listing on the right to find out more.
Options in Florida if You Can't Pay the Loan on Time
What happens if a consumer falls upon hard times and is totally unable to pay a loan on time? In cases where there has been a financial setback between the time of a Florida payday loan being obtained and repaid, and the consumer is not able to fully pay off the loan, there is the possibility of working out a repayment plan with the lender. In order to work out a repayment plan, the consumer has to be aware that the lender will, in all likelihood, have a specific list of charges that will be imposed upon the consumer - in terms of late fees and possibly non sufficient fund fees if there was a check involved in the initial transaction. Lenders are more likely to work out a payment schedule to recoup their funds because in the state of Florida they are prohibited from filing criminal actions against the borrower; while this eliminates the threat of prosecution from being posed to consumers, it does not eliminate the possibility of the lender taking court action against the borrower if there is failure and outright refusal to repay any funds.
Get a Fast Cash Payday Advance in Less than 24 Hours
That's completely right, online cash advances are available from direct lenders that can put the cash funds in your account in as few as 4 hours after approval. Florida payday loan lenders can offer payday loans and other cash advances over the Internet. Getting a fast cash payday advance is as easy as one, two and three. First step is to apply for any of the online cash advances available via the web form application. Once the application is submitted, the applicant is forwarded dynamically to one of the Florida payday loan lenders standing by to review and approve the cash advance. Finally, after approval, the fast cash payday advance funds are direct deposited into the applicant’s bank account. This entire process can take as little as 24 hours.
Florida Payday Loan Lenders follow a 3 Step Process
Florida payday loan lenders have accepted the 3 step process as the fastest way to get loans approved and funds into the consumer’s account. The process of apply, approve, and fund is extremely fast and requires only basic and necessary information from the applicants applying for online cash advances. The online application for a fast cash payday advance only takes about ten minutes to complete. The web form requests the applicant provide certain identification, salary and banking information the Florida payday loan lenders will use to approve the funding. After the Florida payday loan lenders review and approve the application then the banking information provided is used to set up a direct deposit to fund the loan. The loan funds are placed electronically into the applicant’s checking or savings account for immediate use. Repayment begins on the applicant’s next payday after the loan is made based on the amounts and terms agreed upon during approval.
Online Cash Advances from $100 to $1500
If you are 18 or older you can apply online for a fast cash payday advance in any amount from $100 to $1500. The online cash advances are intended to fill a short term financing need so the amounts are set this way to provide an easy and quick payback on the loan. The fast cash payday advance is just that, an advance on the applicant’s next payday check. The loans can be used to make other payments that are due before the applicant gets paid their regular salary paycheck. Funds received from the payday lender can be used for anything the applicant desires. The intent of the lender is to make sure the applicant gets the needed funds as quickly as possible. The online processes have streamlined the consumer’s ability to get fast cash payday loans in as little as 24 hours after approval. Since the transactions are handled electronically via the Internet, the consumer is able to apply for these loans from the comfort of their own home. Actually, an application for online cash advances can be submitted online from anywhere an Internet connection exists like a library or hotel business center.