Arizona Payday Loan and Cash Advance (AZ)
According to Arizona State law, it is required for payday loan lenders to operate with a valid license in the state. In the loan agreement, it must provide with a valid contact phone number and correspondence address for the purpose of protection and convenience of borrowers to file a complaint. At any one time, it is not allowed for payday loan lenders in Arizona State to sign more than one loan contract with a single borrower. Likewise for a borrower it is not allowed to have more than one overdue payday loan at any one time. Details of the Arizona payday loan requirements are summarised as follows:
- Maximum Payday Loan Amount: Arizona payday loan lenders are restricted to issue a maximum loan amount up to $500.
- Terms of Payday Loan: The term of loan given to all borrowers is minimum 5 days.
- Payday Loan Extensions: According to Arizona State law, it allows up to three renewals or extensions.
- Payday Loan Fees and Charges: The maximum payday loan fee is set to 15% of the total loan amount for any transaction or extension.
- Payday Loan APR Rate and Fee Schedules: The typical annual percentage rate (APR) for a 14 days payday loan of $100 is 459%.
To apply for an Arizona payday loan, why not check out our recommended list of online payday loan lenders below. They covers all 50 states including Arizona (AZ).
Recommended Online Payday Loan Companies
Tags: arizona cash advance, arizona payday advance, arizona payday loan, Payday Loan By State
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June 23rd, 2009 at 9:50 pm
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June 24th, 2009 at 4:13 am
Thanks for your comment