Idaho Payday Loan – Best Payday Lender in Idaho

Payday loans in Idaho and other states can be a great helping hand if you’re short on money for a bill or special occasion and need just enough money to make it to your next paycheck. The premise behind payday loans is that you get the loan, use it for what you needed it for then immediately pay back the lender when you get your paycheck. You are also charged a finance fee of course, this is how the lender makes money. Due to the huge potential for abuse of this system payday loans are regulated by law and actually illegal in some states. While they are legal in Idaho there are somethings to keep in mind.


Best Idaho Payday Loan

No
Provider
Review
APR
Visit Site
1
AmeriAdvance
Varied
Go to AmeriAdvance
2
Paydaymax
431.79%-616.85%
Paydaymax
3
Plain Green Loans
59.84% �?378.95%
Go to Plain Green Loans
4
MyCashNow
401.13%-573.05%
MyCashNow
5
Discount Advances
401.13%-573.05%
Discount Advances
6
100 Day Loans
36%�?51.79%
100 Day Loans
7
Cashnet USA
243.25%�?83.04%
Cashnet USA
8
Check City
Varied
Check City
9
Cash Central
Varied
Cash Central
10
CashAdvance
Varied
Go to CashAdvance.com

Getting Payday Loan in Idaho

APR

APR (annual percentage rate) is the finance charge you pay when you take out a payday loan in Idaho and other states. The APR you pay on a payday loan is typically much higher than what you’d pay for other types of loans. For example if you take out a loan of $200 you might be expected to pay $40 to $50. The fact that people who typically get payday loans are in a desperate situation is what allows lenders to charge high amounts like this.

Your Credit Score

Your credit score will be taken into account when applying for a payday loan in Idaho and you can expect to be charged more if you have a poor credit score. Something else to consider is that some loan companies don’t have fixed APR limits and you may be able to negotiate with them to bring your rate down. If you have a good credit score you will have more leverage in these negotiations.

Loan Limitations

In Idaho the law stipulates that you can not take out a payday loan of more than $1,000.00. In addition to this you also can not take out multiple loans if the total amount owed to the lenders is over $1,000.00. In many ways this is for your own safety seeing as how payday loans are known to be some of the most predatory loan types around.

Collection fees in Idaho are also limited to $20 NSF fee plus 12 percent interest per annum on unpaid amount. Keep this in mind when taking out a loan.

Collateral

In some cases people are expected to offer up some type of collateral in exchange for a loan such as their car title. When it comes to payday loans this is typically not needed since the amount isn’t huge but you should be wary in case a lender wants you to do so. If you put up a form of collateral against your loan you will lose it if you fail to make a loan payment.

All in all getting a payday loan in Idaho can be a huge help if you’re wary of predatory lending. Don’t let a lender pressure you into taking a loan that you’re not able to pay back, especially if you’re putting up something as collateral.

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