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Are payday loans illegal in New Jersey?
Yes they are!!!!. they have to be licensed in nj to loan in nj out of state PAYDAY LOANS ARE PROHIBITED IN NJAdded: As stated above, payday loans are illegal in New Jersey but their state laws (as currently written) are considered weak and ineffective.See below link:
What if you have numerous outstanding payday loans?
Nothing ! You can get a new one!
What states can military personnel apply for a military payday loan?
Some states that allow military personnel to apply for a military payday loan are Arizona, New Mexico and North Carolina. These loans are capped to 36% APR by the federal law.
Do you have to repay a payday loan in new jersey?
Erm...Yes. You have to pay all "loans". That's why they are called "loans."
What are the key differences between signature loans and payday loans?
The major difference between a signature loan and a payday loan is that the payday loan uses your next paycheck as collateral whereas a signature loan does not require any collateral. Signature loans, also known as good faith (or no-doc) loans, are backed by the character and good credit history of the borrower with the particular lender. While higher rates apply to signature loans, the relative costs of signature loans are lower than those of payday loans. Key differences summarized: * Term of signature loans may be up to one year; payday loans max out at one month (extensions are considered new loans) * Fees and interest rates charged in signature loans are lower than those of payday loans * No security or collateral is required for a signature loan; payday loans do require income and a pledge of the next paycheck * Signature loans may be used to build your credit history as payments on signature loans are sent by lenders to credit bureaus; payday lenders only submit negative information to the bureaus if the loan is not paid appropriately
What is the highest interest rate allowed by NY law?
In New York, the legal maximum interest rate is 16% per year for most types of loans. However, for some types of loans, such as payday loans, the maximum interest rate is lower. It's always important to check the specific regulations for the type of loan you are considering in New York.
Is a raffle legal in New Mexico?
if you want to have a raffle is it legal in state New Mexico
What stores offer payday loans?
Payday loans are offered by the familiar stores such as Same Day, Fast Cash, NextCredit, RedWallet, Wonga and many more but are now finding their way into retails establishments as a new service to cash strapped individuals.
Is noodling legal in New Mexico?
no it is not legal
Is being an escort legal in New Mexico?
Escorting is legal almost everywhere, but prostitution is illegal in New Mexico.
Where is the best place to get a same day payday loan?
The best and easiest place to get a same day payday loan would be online. There are new websites springing up all the time which provide very fast approval times for such loans. Websites such as Wonga, Payday Loans and Monkey Dosh. Be warned however, the interest rates will be very high.
What are the wage garnishment laws for payday loans in New Jersey?
I also have been looking into this and it seems the state wage garnishment laws are 10% of your gross income. Payday loans are prohibited in the state of NJ and they do have a usury law set in place. I do not know what our rights as consumers are when it comes to these internet payday companies. They state that we have to abide by their (payday loan sharks) state rules. I hope this is something, I have been trying to get out of this mess.
