When it comes to finding payday loans online, its easy to find a million lenders by just searching the terms in which you are looking for, however all payday lenders are NOT created equal and people NEED to know their state laws to protect themselves against high interest rates.
The people in charge of regulating payday loans in their state are the attorney generals of each state. While some state generals are notorious for finding any companies that does not cooperate with each and every rule enacted by their state, especial usury caps, some state generals just don’t have the time or budget to police Internet lending and how it relates to their residents.
It is best to be prepared and know about, not only payday loan laws in your state, but also about other financial products you could potentially shop for online. However, just because payday advances are illegal in your state, doesn’t mean that there are not some lenders that will still extend the loan to you. By law, this is illegal but many online lenders can still service your needs.
There is a great study done, however, it has not been updated in a while (since 2007) that rates each state with a pass or fail of each small loan category. To view this study, click here
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