Installment Loans Georgia
According to the state laws of Georgia, payday loans are prohibited in Georgia. Lenders are required to possess a license to deposit checks to anyone’s account and there is a minimum fees that convert a post-dated check to cash. The motive of state of Georgia is to provide wisdom, integrity and moderation to every resident. Lobbyists are working to solve the issues of payday lending industry for the advantage of consumer protection. At one side, the lending industry wants the consumers to have an access to the needed money and on the other hand ardently trying to end the possibility of having payday loan.
If you are in need of immediate cash, we help you to obtain installment loans or other suitable short-term borrowings at your convenience.
Laws And Regulations Regarding Lending Services In Georgia:
1. Loans made in Georgia are subject to the terms and regulations of Georgia state lending law.
2. Installment loans Georgia are small loan, usually for a month or more that can be obtained with easy interest rates and better terms.
3. It is availed by writing the post-dated check for the borrowed amount to the lender plus the fees.
4. If you are unable to repay the amount of the loan on the scheduled date, you will then owe to pay the original loan plus added interest rate. Certain amount of finance charge is paid to renew the loan.
5. Annual Percentage Rate typically starts over 400%.
Lenders in Georgia are subject to the regulation of providing the rates and terms to the applicant in writing. Consumer Protection Unit Of Georgia are not held responsible for the complaints related to lending irregularities. If you have any queries about loan license, contact the Industrial Loan Division.