Payday Loan Terms Applied in Florida, FL
The life in Florida is less expensive than in California or Texas. It doesn’t mean that people don’t experience financial problems here. Many of them have to borrow money to cover emergency expenses like medical bills or tuition fees.
At Filld.loan, we offer FL payday loans from direct lenders. This happens to be a fast and easy way to receive extra cash in a short time. The qualifications don’t seem to be as strict as the traditional bank loans, while the approval process is very short depending on loan terms.
Payday Loans Regulations in Florida FX
In Florida, payday lending is considered to be legal according to the § 560.402-§ 560.408 Statutes. All payday lenders are obliged to obtain a license under the Fl. Stat. Ann. § 560.402 et seq. in order to deliver their services in the state.
When applying for payday loans FX, you should remember the limits established by the state law. Thus, the citizens of Florida are allowed to get up to $500 for single payment loans and $1,000 for installment loans. A repayment period usually ranges from 7 to 31 days for single payment loans and from 60 to 90 days for installment loans.
Direct lenders can charge only those fees authorized by the state and federal law. They aren’t allowed to charge the fees that exceed 10% of the loan size (8% for installment loans). The average fees are estimated at 10$ for every 100$ borrowed. Prepayment penalties are prohibited.
The minimum APR may differ from one lender to another. The maximum average percentage rate may get as high as 419%.
Rates, Fees and Other Charges Imposed on Payday Loans in Florida
Florida doesn’t allow any finance charges and fees that exceed 10% along with a verification fee (up to $5). According to §,560.309(7) of the Payday Lending State Statutes, a verification fee can be charged upon a direct lender’s decision.
How much will a 100$ payday loan FX taken for 14 days cost you? 10% of the loan size and a verification fee up to 5$ will be added to the loan amount itself. As a result, you will need to return 115$ to the lender within 14 days. Any delay will lead to penalties which are estimated by each particular lender individually.
So repayment obligations must be taken seriously. Otherwise, a small loan amount may turn into a small fortune that will make your financial situation even more complicated. An average single payment loan is given for a period of 7-31 days. A longer repayment period is allowed for installment loans, namely 60-90 days.
Please mind that rollovers are not permitted by the state law. All the payday loans should be repaid in time. At the same time, there are repayment plans offered on demand by direct lenders, which leave some space for negotiations.
Payday Loan Florida with Bad Credit
When looking for payday loans in Florida FL, you shouldn’t worry about your credit score. This type of loan isn’t based on your credit history. However, some lenders may still check your credit score while processing your loan application.
Direct lenders in Florida are usually interested in your financial capabilities. They actually want to know if you are able to pay everything back during the repayment term. Ideally, you are employed and receive a monthly salary. In this case, your credit score won’t matter anymore unless it is extremely low. Having a stable source of income will be convincing enough to get your loan application approved.
Where Can You Get Payday Loans in Florida?
Many direct lenders offer online payday loans in Florida. Many of them don’t have physical offices so they deliver their lending services online. To make it easier for borrowers to choose the optimal loan offer, you can submit an application with Filld. Thanks to a great network of lenders, we have access to the best loan offers on the market. We will be able to find an option that addresses your personal needs and expectations.
Filld can offer payday loans in Florida including the cities of Boca Raton, Fort Lauderdale, Jacksonville, Miami, Orlando, Tallahassee, and many others.
What to Consider Before Applying for FX Payday Loans with Direct Lenders?
Finding online payday loans in Florida isn’t such a big issue. There are more than enough options on the market. The experts at FILLD can save your time by collecting loan offers. You will just need to make the final choice.
The value of payday loans will involve the requested amount of money, a service fee, and a verification fee. The fees aren’t imposed by some lenders. This can be one of those things to think about while choosing a loan offer. No one wants to pay extra. Moreover, you should think about repayments before you apply for a loan. Ask yourself whether you will be able to pay the loan amount back by the end of the repayment period. If not, you should give up on the idea of getting a payday loan.
Getting Florida Payday Loans with Filld
If you need money here and now, Filld can help. We are a connection service that cooperates with the most reliable lenders on the market. We help you find the best loan offers to meet your financial needs in a short period of time.
Through Filld, you can find loan offers ranging from $100 to $35,000. Repayment periods may last up to several three months, depending on the requested amount of money and the type of loan. This nuance can always be discussed with the lender.
To get a payday loan online in Florida FL, make sure that you give the most accurate information possible. Our online application process doesn’t last long. It takes a few minutes to specify all the details in a loan form. Don’t forget to mention an email and phone number you are actually using. Once you are done with it, you will see an instant decision on the screen. Successful candidates can get money deposited into their bank account within 24 hours. Well, it usually takes less than that. Convenient, isn’t it?