San Diego Payday Loans

With the down turn of the economy many more Americans are living paycheck to paycheck.   As to be expected, this way of living can lead to some financial dilemmas for many families.  Bounced checks, unpaid bills, going without groceries, and skipping needed car repairs can all be consequences of living paycheck to paycheck.  For many who are struggling financially, there are not many positive alternatives.  However, one alternative that may work for some is a pay day loan, also known as a pay day cash advance.


Best Payday Loan in San Diego

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
Check City
Varied
Check City
8
Cash Central
Varied
Cash Central
9
CashAdvance
Varied
Go to CashAdvance.com
10
Great Plains Lending
199.44% �?448.76%
Great Plains Lending

Pay Day Loan Overview

A pay day loan is a loan against your next paycheck.  You will be required to pay back the amount, plus applicable interest and fees on the due date.  The due date is usually your next pay date, depending on how many days it is until you are paid.  There are various companies throughout the state of California and the nation who are in the business of providing pay day loans.  To apply, you generally will need your most recent two paystubs, bank statements, and two or three personal references.  The process is usually quick and simple and you will know shortly after whether or not you qualify.

California State Pay Day Loan Law Overview

If you are considering applying for a San Diego payday loan there are several pieces of important information that you should be aware of.  The state of California sets the loan limit for pay day loans at $300.  The maximum loan term cannot exceed 31 days.  California law also states that a fee for a pay day loan cannot exceed more than 15 percent of the face value of the loan, up to $45.  This means the annual percentage rate (APR) is 460 percent for a 14 day loan, and can be greater if the loan is for a longer length of time.  Only one loan may be taken out at a time.  Under California law, loan extensions cannot be granted.  However, once your loan is paid in full, you can take out another loan.  Additional pay day loan regulations may apply to members of the military and their families.

All pay day loan lenders in the state of California must be licensed in the state by the Department of Corporations.  They may not charge more than one $15 insufficient funds fee.  They also cannot threaten to prosecute a borrower in criminal court for failure to pay back the pay day loan.

Pay Day Loan Conclusion

If you are in a financial dilemma, explore your options.  If taking out a San Diego payday loan seems to be the best option for you, make sure you are aware of the contract you are signing, as well as California pay day loan laws.  Making an informed decision about receiving a pay day loan can save you from financial and credit problems in the future.

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