Payday Loan Laws




Washington Payday loan laws. Washington Payday loan legislation. Washington has specific payday advance laws. The permitted fee is 15 % of the principal on the 1st $500 borrowed; 10% on any amount over $500.
**************************************************

Payday Loans

A payday loan is a small, unsecured, high interest, short-term cash loan. In most cases, consumers write a post-dated, personal check for the advance amount, plus a fee. The lender holds the check for the loan period and then deposits it, or the customer returns with cash to reclaim the check.

Changes Effective January 1, 2010 New!


Payday Loans In Washington State


Checklist - Before Taking Out A Payday Loan

Although a payday loan may be a convenient short-term solution, it is inappropriate for long-term cash needs.


Your Rights As A Washington Resident


More Information From DFI

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

*************************************************
The permitted time period is a maximum of 45 days.

The maximum amount of the payday loan allowable is $700.00. Rollovers are prohibited.

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