Payday Loans or “Quick Cash” loans come in real handy when you are short on cash. Today you can go to brick and mortar business for a payday loan or cash advance loan and you can even get online payday loans. The interest rates are a little healthy, but the speed and convenience of getting the cash quick to cover an unexpected expense overrides the costs.

These are the rules, laws and regulations of payday loans in Nevada.

Nevada Payday Loan Laws
Nevada Legislation State Information

Payday Loan Legal Status: Legal

Citation:
Nev. Rev. Stat. 604A.010 et seq.

Payday Loan Terms:
Maximum Payday Loan Amount: 25% of expected gross monthly income
Payday Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified
- interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %
Finance Charge for 14-day $100 payday loan: No Limit

apr for 14-day $100 loan: No Limitations

Payday Debt Limits:
Payday Maximum Number of Outstanding Payday Loans at One Time: Not Specified
Rollovers Permitted: Not Specified
Payday Lenders cannot extend payment period beyond 60 days after expiration of initial loan period
Cooling-off Period:
Repayment Plan: Yes

Payday Loan Collection Limits:
Collection Fees: $25 dishonored check fee
- max. two fees for insufficient funds
- max. one fee for closed account
- Court Costs
- Reasonable Attorney’s Fees
- Service of process costs

Criminal Action: Prohibited
- Unless customer acted with criminal intent)

Regulator: Nevada Financial Institutions Division
Address: 2785 E. Desert Inn Rd., Suite 180
Las Vegas NV 89121
Phone: (702) 486-4120
Fax: (702) 486-4563
Regulatory Contact: , Supervisory Examiner

Boulder City
Carson City
Elko
Enterprise
Fallon

Fernley
Gardnerville Ranchos
Henderson
Incline Village-Crystal Bay
Las Vegas
Laughlin
Lemmon Valley-Golden Valley
Mesquite
Nellis AFB

North Las Vegas
Pahrump
Paradise
Reno
Spanish Springs
Sparks
Spring Creek
Spring Valley
Sun Valley

Sunrise Manor
Whitney
Winchester
Winnemucca

Carson City
Churchill County
Clark County
Douglas County
Elko County

Esmeralda County
Eureka County
Humboldt County
Lander County
Lincoln County
Lyon County
Mineral County
Nye County
Pershing County

Storey County
Washoe County
White Pine County

This entry was posted on Monday, July 19th, 2010 at 2:02 pm and is filed under Payday Loans by State. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.