Online Loan Application

Payday loans in Florida - Payday Advance Credit ™ USA

Payday lenders provide short term loans in exchange for the borrower’s cheque and a processing fee. The payday loan lender agrees to hold the cheque for a designated time period ad deposits it after the borrower has received his pay check.

In the state of Florida the payday loans are regulated by the Office of Financial Regulation's Division of Consumer Finance. You can easily verify the license of the lender or file a complaint on their website.

In accordance with the Florida Law, the lenders are entitled to the following protections:

  • The maximum that can be borrowed by the borrower is $500 per loan.

  • The borrower can only have a single outstanding loan at any given moment. This can easily be tracked with the help of a state wide database of all loans.

  • The maximum fee for the loan is 10% of the amount borrowed along with a $5 verification fee.

  • The maximum loan duration is 31 days and the minimum loan duration is 7 days.

  • Certain contract terms which can restrict the borrower’s rights have been prohibited.

  • A borrower must repay their first loan and wait for about 24 hours before they can enter into a new loan agreement. This time period has been kept in place to prevent any loans from being rolled over.

  • If towards the end of the loan term the borrower is unable to repay the loan amount in full, the loan provider must give a 60 day grace period to the lender without any additional charges.

Things that you must remember before taking out a payday loan in Florida:

  • Verify the license of the lender from the Office of Financial Regulation’s website, just to make sure that the lender is legitimate

  • You need to be especially careful with the license if the lender is operating online. When dealing with unlicensed companies it becomes increasingly difficult to take care of any potential problems since many of these companies might be located out of United States.

  • Be wary of various other short term loans that mimic payday loans, such as auto title loans, open ended lines of credit and installment loans. These might use electronic transfer or automated clearing houses every 14 days.

  • Try to compare between various payday lender in order to find the one with lowest penalties and fee.

  • Only borrow the amount that you can comfortably pay back.

  • You must know when the loan payment is due and make sure that you can completely repay the loan in time.

  • Try to take advantage of some local non-profit organizations operating around your residence that can provide you some help with your current financial situation. Many such organizations can offer you help with credit repair, budgeting, debt repayment and a lot more. Contact the local office of asset building coalition, united way or credit counselling service.

  • Try to set up a budget. Make realistic budgets and plan for the future in order to avoid borrowing for handling any unforeseen expenses and emergencies.

.

Our lending process is free of any catches and hidden clauses, because we answer all your doubts and explain the lending process explicitly to our buyers. Whether you have hundred questions or one, we make sure that each of them is answered to your utmost satisfaction before and after applying the loan.

Fraud Alert Please be informed about stores pretending to be Payday advance credit. Read more We're a fully licensed company. Getting a safe and easy loan We are a locally owned and fully licensed company operating locally and online. You can learn more about our payday loans and licensing information for lenders here!

Disclaimer : Payday advance credit is not a financial organization or a lender. We do not provide loan or make decisions relating to the lending policy of our lenders. When you apply for a payday loan by filling out the application form available on our site, it does not guarantee approval of the loan. We forward your filled form to our network of lenders, who then evaluate your application based on their set criteria and approves your loan. Based on your application, our lenders will offer you the rate of interest, charges involved and other terms guiding your loan process. Once you get the offer from the lender, you can then decide whether you need to accept the amount or not. Payday advance credit does not play any role in deciding your loan amount, interest charged or any other terms related to it. We advise our clients to read the terms and conditions properly and weigh the pros and cons that follow before signing the contract. We make our earnest effort to provide you with up to date and explicit information on our site. If you decide to accept the offer, then you will have to sign the documents electronically and send it over to us. After you duly sign and agree to the agreement, we will then put forward the amount in your bank. We are in no way obligate you to accept the loan amount after the offer is made. You are solely responsible to accept the loan amount based on your personal decision. Some of our lenders will run a credit check on your name to ensure your capability to repay the loan. The verification won't affect your credit history and is performed by lenders to cover risks associated with lending money. Payday advance credit reserve the right of making any changes on our website without intimating the clients in advance. The updated information is effective from the time it is updated and it is the responsivity of the customer to read them prior to applying for a loan. Payday advance credit or its affiliates do not guarantee availability, performance accuracy and functionality of the third party software working on our website. Any transactions occurring between you and payday advance credit is subjected to local jurisdiction regardless of the place where you reside. Payday advance credit or its affiliates does not guarantee the performance, availability, functionality and accuracy of the third party software present on its website. All the transactions between Payday advance credit and you are subject to the local jurisdiction regardless of the location where you live when you accept a short term loan or advance credit. We advise you to go through rates and fees section on our site to understand the laws and terms that follow your agreement. Our terms of use will help you in gathering more information on the loan process, products and services to understand it thoroughly. Read our privacy policy to understand rules and regulations to understand the collection, use and distribution of personal and non­personal information that's been gathered from customers by Payday advance credit or any affiliates. Privacy Policy