Legal Status: Legal
Citation: Fl. Stat. Ann. §§ 560.402 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% of check + verification fee not to exceed $5
Finance Charge for 14-day $100 loan: $16.11
APR for 14-day $100 loan: 419%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes. Grace period extends term 60 days, no additional charge. Credit counselling required.
Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Florida Office of Financial Regulation, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748
Sourced from paydayloaninfo.org
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