Understanding Louisiana Payday Regulations
By state to safeguard the candidates from unlawful rate of interest implications.
- Underneath the Louisiana Deferred Presentment and Small Loan Act, a person can borrow at the most $350.
- A lender can charge a maximum of $20 per $100 borrowed as per the rules. An extra $10 paperwork charge may be imposed by the loan provider. In any case the amount of cost being charged by the loan provider cannot meet or exceed $55 once the quantity borrowed is between $200 – $350
- A debtor cannot restore the mortgage.