Payday Loan in Connecticut

If you have run out of cash in the middle of the month and require a quick loan, then you are in luck. Payday loan services are for individuals who are strapped for cash before their next payday. They may vary from small loans for your few needs to relatively large amounts for all your other needs.

The services provided are quick and easy to attain. The transactions only take minutes and the loan received are transferred to your account during the next available business day. You are then assured of making living comfortably until your next pay day.

There are numerous types of payday loans and they vary with the payday loan lenders. These payday loans are online payday loans, military payday loans, 24hour payday loans, instant payday loans, low fee payday loans, paperless payday loans and many more. The choice depends on the individual borrowing the money.

In Connecticut however, Payday loans are illegal and are only carried out under specific conditions. There are two ways in which Connecticut ensures that Payday loan services do not enter into the state. This is by requiring individuals to have licenses for check deposits and by minimizing the amount that is charged to cash a deferred check.


Best Payday Loan in Connecticut

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
CashAdvance
Varied
Go to CashAdvance.com
8
Great Plains Lending
199.44% �?448.76%
Great Plains Lending

People interested in being licensed to carry out the Payday loan services are required to submit their contact information and a fee of $250 to the appropriate authorities. The commissioner in charge then fills an investigation to determine ones legitimacy and whether the business will provide any positive and valuable service to the intended community.

The Payday loan business should also have a minimum of $10000 in liquid assets in order to be allowed to run the business. Any other business started by the same proprietor should also have the same amount in liquid assets.

Connecticut also has strict laws regarding lending fees charged to those seeking short term loans. For instance if one takes a loan of about fifty dollars, the lender may charge 0.5 percent of the total amount and five cents as handling fee. The higher the amount loaned out the higher the interest charges and handling fee. Lenders are also required to post a sign on their businesses that indicate their fees for doing business.

The payday loan services are offered in a large variety of services. Individuals may get personal loans, credit cards or even credit counseling classes that are helpful to individuals seeking loans. The credit cards and personal loans are available to everyone no matter how bad ones credit is. There are huge benefits to getting credit cards and personal loans over the payday loans. The benefits are longer repayment plans and improved credit re-establishment.

So despite the many laws governing the Payday loan services in Connecticut, there are quite a number of reputable payday loan companies ready to offer you loan services so as to help you survive to your next pay day. The services are also readily available online and by logging in to their sites you can have your payday loan approved on time without any hustles.

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