New Jersey Payday Loan | Best Cash Advance in New Jersey

Traditional payday lending is not legal in New Jersey. This does not mean it is impossible to obtain a New Jersey payday loan. It means there are some differences in the way lending is approached.

New Jersey Payday Loan Law Overview

Payday loans are considered to be small loans or consumer loans, rather than cash advances. The maximum amount you can borrow is $2,500.

If you have defaulted on three or more loans in the previous twelve-month period, you will not be eligible to receive a new loan. You must wait at least six months before applying for a loan. While loans are generally due on a borrower’s next pay day, these terms can be negotiable.

There are no limits on extensions or rollovers. You can also request a payment arrangement if you cannot repay your loan in full when it is due.

New Jersey laws pertaining to interest rates account for the state’s stand against traditional payday loans. In New Jersey, interest rates on loans are capped at 30% per annum. This is much lower than most payday lenders charge for cash advance loans. It is also important to know some lenders refer to interest as lender’s fees. It is legal to do so, if the lender is not charging more than the 30% APR. The specific term a lender uses does not need to be confusing. Whether the lender calls it a fee or interest, it means the same to the consumer.

While there are lenders in New Jersey who operate legally by abiding by these laws, there are also payday lenders who do business over the internet. While online lenders are generally not based in New Jersey, they are not operating illegally if they abide by these laws when offering loans to New Jersey residents. Unfortunately, there are online lenders who try to bypass state laws. Rather than dealing with these lenders, you can easily find one who is legitimate.

If you live in New Jersey and need cash between pay checks, make sure you are familiar with these laws and terms. Make sure the lender you are considering follows the laws for your state. Although the laws can make it slightly more difficult to obtain a New Jersey payday loan, it is not impossible. When you keep this information in mind you can avoid unscrupulous lenders who take advantage of consumers, and have a positive experience instead.

Best New Jersey Payday Loan

You apply for best payday loans in New Jersey online right away.

No
Provider
Review
APR
Visit Site
1
AmeriAdvance
Varied
Go to AmeriAdvance
2
Plain Green Loans
59.84% �?378.95%
Go to Plain Green Loans
3
MyCashNow
401.13%-573.05%
MyCashNow
4
Discount Advances
401.13%-573.05%
Discount Advances
5
100 Day Loans
36%�?51.79%
100 Day Loans
6
Check City
Varied
Check City
7
Cash Central
Varied
Cash Central
8
CashAdvance
Varied
Go to CashAdvance.com
9
Great Plains Lending
199.44% �?448.76%
Great Plains Lending
10
Payday One
586.61%
Payday One
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