What is the maximum payday loan amount?
A borrower’s payday loan limit is set by their state, and in some cases, there are no limits. In Florida, a borrower may borrow up to $500 per loan.
What is a payday loan term?
7 -31 days. The loan term cannot exceed 31 days or be less than 7 days.
Does Florida permit more than one payday loan at a time?
These cover bankruptcies, judgments, tax liens, and other government-related notices that affect your credit.
How long to I have to wait to get a new payday loan?
A borrower must pay a previous loan in full and wait 24 hours before entering into another loan. This period is designed to prevent loans from being rolled over into new loans and to give consumers the opportunity to consider other financial alternatives.
Is there a repayment plan?
Yes. If, at the end of the loan term, you are unable to pay the loan in full, your loan provider must provide a 60-day grace period without additional charge. The grace period is dependent upon you making an appointment with Debthelper.com within 7 days and completing the counseling within the 60-day grace period.
What is the maximum Finance Rate and fees for a Florida payday loan?
10% of the check plus a verification fee not to exceed $5.
What law covers payday loans in Florida?
Fl. Stat. Ann. §§ 560.402 et seq.; Rules 69V-560.707, 69V-560.901-912. Certain contract terms that limit a borrower’s rights are prohibited.
Who does Florida authorize to help with Payday loan 60-day grace periods?
Deferment Presentment Providers. To verify that Credit Card Management Services, Inc. Debthelper.com is a deferment presentment provider authorized with the State of Florida, click here.
Fee for Services
Counseling services are by appointment only, in-person or over the phone. Counselors will complete a full budget review and provide you an action plan. They will deliver your appointment to your payday lender and provide a certificate of completion. The fee for the service is $49.90.
Once confirmation of your appointment is sent to your Payday Lender, the fee for the counseling services is non-refundable.