Payday Loans Delaware

Payday loans are legal in Delaware.

The maximum loan amount is $1,000. The maximum loan term is 60 days and a lender has no right to require the repayment before that term. Maximum finance charges or interest rates in Delaware are not specified. Real APR in Delaware can reach 521%

Currently, payday lending in Delaware is regulated by the Small Loan Act or Licensing Law.

You cannot get any additional loans until the previous one is repaid.

You can get 4 rollovers on each bad credit loan in Delaware.

You can have no more than 5 loans per 12-month period.

A lender can charge one NSF collection fee not exceeding $25.

If you do not repay a payday loan, the amount of the loan + attorney fees can be recovered through the court trial. However, criminal actions against borrower are prohibited.

Delaware Payday Loan Regulations:

Legal Status Legal
Interest Rate (APR) 521%
Minimum Loan Amount
Not Specified
Maximum Loan Amount
Number of Rollovers Allowed 4
Finance Charges No limit
Minimum Loan Term
Not Specified
Maximum Loan Term
60 days