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 Delaware.

Delaware State Information

Payday Loan Legal Status: Permitted under small loan act or licensing law – Legal

Citation:
Del. Code Ann. Tit. 5 § 2227 et seq.

Payday Loan Terms:

Maximum Payday Loan Amount: $500
Payday Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit

Payday loan Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified – $1000 aggregate loans outstanding to all licensees
Rollovers Permitted: Four
Cooling-off Period:
Payday loan Repayment Plan:

Payday Loan Collection Limits:

Payday Loan Collection Fees:
Payday Loan Criminal Action:
Regulator: Delaware Office of the State Bank Commissioner
Address: 555 E. Loockerman Street Suite 210 Dover DE 19901
Phone: (302) 739-4235
Fax: (302) 739-3609
Regulatory Contact: , Administrator, Non-Depository Institutions and Compliance

Arden Camden Cheswold Christiana Claymont Clayton Dagsboro DE Delaware City Delmar Dewey Beach Dover Edgemoor Ellendale Farmington Felton Fenwick Island Frankford Frederica Georgetown Greenville Greenwood Harbeson

Harrington Hartly Hockessin Houston Kent County Kenton Kirkwood Laurel Lewes Lincoln Little Creek Long Neck Magnolia Manor Marshallton Marydel Middletown Milford Millsboro Milton Montchanin Nassau New Castle

New Castle County Newark Newport Ocean View Odessa Port Penn Rehoboth Beach Rockland Saint Georges Seaford Selbyville Smyrna South Bethany Stanton Sussex County Talleyville Townsend Viola Wilmington Winterthur Woodside Wyoming Yorklyn

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I am adding a new payday loan project where I am covering each state and what they allow and not allow in the payday loan /  cash advance industry.  It should be an interesting project on how the different states look at short term loans and how there seems to be issues with government and finance industry that provides a service to consumers. Here the link to the Payday Loans by State

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