Wyoming 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

Loan Terms:

Maximum Loan Amount: Not Specified

Maximum Loan Term: 1 calendar month

Maximum Finance Rate and Fees: the greater of 20% per month or $30

Finance Charge for 14-day $100 loan: $30

APR for 14-day $100 loan: 780%

Debt Limits:

Maximum Number of Outstanding Loans at One Time: Not Specified

Rollovers Permitted: None (cannot repay, refinance or consolidate by proceeds of another check)

Cooling-off Period: N/A

Repayment Plan: Yes (Once per 12 month period; at least 4 equal installments; at least 60 days)

Collection Limits:

Collection Fees: No NSF fees or other costs

Criminal Action: Prohibited

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

State Rate & Fee Regulations

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