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Payday Loans in San Diego CA Payday Advance Credit ™ USA

It is not difficult to get payday loans in USA because of availability of thousands of dealers but choosing a genuine one can certainly be troublesome. PaydayAdvanceCredit is a fully licensed; locally owned and operated payday company working in USA from past few years. We extend our payday loan services in Las Vegas, California, Texas and Ohio. We offer local cheque cashing services as well.

According to the present legislations in San Diego, Payday Loans from store front and online lenders is legal according to the Financial Code 23000 and California Civil Code 1789.30. These 2 sets of law contain all the relevant regulations needed for payday loans in San Diego.

Options for Residents

All the consumers who wish to apply for cash advances with the store front lenders in San Diego can search via google or visit Yellow Pages online in order to find a suitable company. All short term lenders in the state of California must possess a valid state license if they wish to operate in the region and provide loans to the residents.

 

The lending rules that must be followed by the lenders are

  • Maximum payday loan amount that can be given by the lender is of $300.
  • These loans have no minimum loan duration however they must be repaid within 31 days of the issue date.
  • The fees and finance charges on the loan is 17.65%. The lender cannot charge above 15% per week for the loan.
  • APR or the annual percentage rate of interest for a 14 day loan of $100 is 459%.
  • A written legal contract of the lending agreement is a must for these loans. The contract must contain all the information related to the loan amount, terms and conditions, finance charges and interest rates.

Debt Limits

To help the consumer in responsibly managing their borrowing, the following debt limits must be followed in San Diego:

  • The maximum number of loans from a single lender has been limited to one for single borrower.
  • No rollover loans would be provided to the borrower. The consumer must completely repay the first loan before they can take a second one. Similarly, rollover charges if any are considered illegal in the state of California.
  • A Prohibition has bene imposed on taking a loan in order to repay the first loan.

The Collection Restrictions

Several collection restrictions imposed on the lenders in case the borrower’s repayment cheque bounces or they fail to repay a part or the entire loan:

  • A maximum non-sufficient fund fee of $15 can be imposed in the borrower in case of return of a cheque.
  • In case a cheque has been returned because of insufficient funds, a lender is not allowed to take any criminal proceedings against the borrower

Regulatory information

In any situation if the online or store front lenders break any of the above mentioned rules, the consumers are recommended to get in touch with the California Department of Business Oversight (DBO) in order to protect their interest and exercise their statutory rights.

 

 

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