A Payday Loan is a form of advance payment given against a post-dated cheque that you provide to the lender. The lender gives you the money you give him a signed cheque for repayment, the date on which is usually the one on which you receive your next pay check. The post-dated cheque usually covers the amount that the lender gives to you along with a fee or interest. The lender will not deposit the cheque before the agreed upon date.

If you are in a very tight spot and have no other option but to take a Payday Loan in Jacksonville FL, it is always a good practice to ensure that the lender you are dealing with has a valid license. The payday lenders holding licenses in Florida have to act in accordance to the state laws and respond to the enquiries made by the Office of Financial Regulation if they wish to maintain their license. In case the lender is operating from a different state or a country through internet or telephone, there is very little that the state can do.

In the state of Florida, the following limits have been placed on payday lending:

  • The amount of loan – the loan amount cannot exceed $500
  • The number of outstanding loans that you can have – at any given moment of time you can have only one outstanding loan. The loans can be tracked with the help of a central database. Once a loan has been repaid you have a 24hr cooling period after which you can take another loan.
  • The loan duration – the duration of these loans cannot be above 31 days and below 7 days. Loan renewal and rollovers are also prohibited. If you are unable to repay the loan within the given time period you can ask for a 60 day grace period but for that you need to approach a credit counselling agency. If they recommend a plan you can have the grace period without any extra fee.
  • The fees that can be charged – according to the Florida law the maximum fee that can be charged for payday loans is 10% of the issued loan amount. The verification fee is limited to $5.
  • The collection procedure if you do not pay – if the cheque that you provided to the lender does not clear and you are unable to repay, there are certain limitations on what a lender can do. He may not pursue criminal charges against you due to a bad cheque. They can only ask for their repayment, but the costs chargeable are limited to the 10% and the $5 cost along with any bad cheque fee that has been imposed by the bank of the lender. Unless a lawsuit is filed no additional costs are imposed.


The state laws require that the loan agreement be done in writing and signed by the parties involved. The agreement must include the name and office address of the lender, a clear description of the loan agreement along with the loan date, loan amount, and term.

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.

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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