Hawaii State - Payday Loans Information

Payday loans are made by payday loan stores, check cashers, and pawn shops. Some rent-to-own companies also make payday loans. Loans are also marketed via toll-free telephone numbers and over the Internet. All a consumer needs to get a payday loan is an open bank account in relatively good standing, a steady source of income, and identification. Lenders do not conduct a full credit check or ask questions to determine if a borrower can afford to repay the loan.

Legal Status: Legal (Applies to check cashers only)

Loan Terms:

Maximum Loan Amount: $600 face amount of check

Loan Term: Max: 32 days

Maximum Finance Rate and Fees: 15% of check

Finance Charge for 14-day $100 loan: $17.65

APR for 14-day $100 loan: 459%

Debt Limits:

Maximum Number of Outstanding Loans at One Time: One

Rollovers Permitted: None (cannot refinance or consolidate)

Cooling-off Period: N/A

Repayment Plan: N/A

Collection Limits:

Collection Fees: $20 NSF fee; Check Casher that accepts check passed on insufficient funds not entitled to recover damages

Criminal Action: Prohibited

Call for Cash: +1 (855) 462-5019

State Rate & Fee Regulations

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