Delaware Payday loan laws. Delaware Payday loan legislation. Delaware has specific payday advance laws. The rate of interest is determined by the parties to the loan.

The term of a payday loan is 59 days. Maximum amount of a cash advance is $500. Rollovers are limited to four.

For a thorough discussion of the payday loan industry and access to our payday loan training materials, we recommend you proceed to Payday and Paycheck Loans.com

Delaware State Information

Legal Status: Permitted under small loan act or licensing law - Legal

Citation:
Del. Code Ann. Tit. 5 § 2227 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($1000 aggregate loans outstanding to all licensees)
Rollovers Permitted: Four (rollovers)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees:
Criminal Action:

Regulator: Delaware Office of the State Bank Commissioner
Address: 555 E. Loockerman Street Suite 210 Dover DE 19901
Phone: (302) 739-4235
Fax: (302) 739-3609
Regulatory Contact: , Administrator, Non-Depository Institutions and Compliance
Regulator Website

Licensee Database

Payday Loan Laws

Delaware State Information