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Finding out the total fee you will pay for taking out a payday loan can be quite a headache, every state has different fee structures for payday loans and some states have banned payday loans because of there high interest rates. Taking out a payday loan should only be used over a short period of time and only if other (cheaper) forms of credit are impossible to get. Thanks to the unscrupulous bankers that rule the world these days, it is increasingly difficult to get credit because of the so called "credit crunch" so millions of people all over the country are having to resort to payday loans, if they are paid off on time they can be a convenient solution to short term cash problems. Payday loan charges and fees below have been introduced into law by 33 states, these are the maximum amounts (payday loan cap) that you can be charged for taking out a payday loan. In the other states, caps are based on the total check, including the fee. Alabama = 17.5% ofloan Alaska = $15 per $100 +$5 California = 15% of check Colorado = 20% 1st $300 7.5% >$300 + 45% per annum interest + $7.50 per $100 monthly fee after first month Delaware = No Cap Florida = 10% of loan + up to $5 verification fee Hawaii = 15% of check Idaho = No Cap Illinois = $15.50/$100 Indiana = 15% 1st $250 13% $251 to $400 10% $401 - $550 Iowa = $15 1st $100 $10/$100 thereafter Kansas = 15% of loan Kentucky = $15 per $100 + $1 fee for the database Louisiana = 16.75% of check Up to $45 + $5 doc fee Michigan = 15% 1st $100 14% $101-$200, 13% $201-$300, 12% $301-$400, 11% $400-$600 + fee Minnesota = 7% of loan +$5 fee Mississippi = 18% of check Missouri = Max 75% of loans Nebraska = $15 per $100 ck Nevada = No Cap New Mexico = $15.50/$100 + $0.50 per $100 fee North Dakota = 20% + fee Oklahoma = $15/$100 1st $300 $10/$100 for $301-$500+fee RhodeIsland = 10% of loan South Carolina = 15% of principal South Dakota = No Cap Tennessee = Lesser 15% of ck Or $30 max. Texas = $10 + 48% annually Utah = No Cap Virginia = 20% of loan +36% Annual interest + $5 Washington = 15% 1st $500, 10% if $500 to $700 Wisconsin = No Cap Wyoming = 20% or $30 fee 100 day loans is one of the leading online payday loan lenders they currently offer payday loans to every state except Arizona, Georgia, Oregon and West Virginia. Fortunately 100 day loans have a fee projection widget on their website, which shows you the minimum and maximum amount you will be charged for taking out your loan. This cool feature makes it very easy to see what maximum fees you are going to pay. 100 day loans is probably the most popular online payday loan company in America, they offer fast and easy cash (at a price) to just about anyone regardless of credit history.
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