What are the Citation (s) to Payday Loan or Small Loan Laws in Arizona?
A: The relevant citation regarding Payday Loans in the Arizona State Jurisdiction is Ariz. Rev.
Stat. Ann. § 6-1251 et seq.
Arizona State Payday Loan FAQs:
Q: Are Payday Loans legal in Arizona?
A: Yes Payday Loans are legal in Arizona.
Q: What is the Maximum Cash Advance Loan Amount in Arizona?
A: The Maximum Cash Advance or Payday Loan amount in Arizona is $500.
Q: What is the Maximum Payday Loan Term in Arizona State?
A: The Maximum Payday Loan Term in Arizona is not specified, however the minimum loan term is 5 days.
Q: What is the Maximum Fee for Cash Advance Loans in Arizona?
A: The Maximum Finance Rate and Fees for Cash advance loans in Arizona is 15 percent of check.
Q: What is the Finance charge for 14-day $100 payday loan in Arizona State?
A: The finance charge for a 14-day $100 loan in Arizona is $17.65.
Q: What is the APR for 14-day $100 payday loan in Arizona?
A: The APR for 14-day $100 payday loan in Arizona is 459 percent.
Q: Is there a limit on the number of payday loans I can take at one time?
A: Yes you can only take one payday loan at one time.
Q: How many times can the lender rollover my payday loan in Arizona?
A: The lender can extend (rollover, refinance) a loan three times.
Q: Can I be charged a collection fee for a payday loan?
A: Yes, the collection fee in Arizona is $25 NSF fee + actual charges assessed by the financial institution.
Q: If I cannot repay my payday loan can the lender initiate a criminal action?
A: No, In Arizona a payday loan lender cannot initiate a criminal action if the borrower is unable to pay the loan.
Know your rights and the law:
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You can only take one payday loan at a time
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The lender can rollover (or extend) the loan for a maximum of three times only
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The lender cannot initiate a criminal action if the borrower is unable to pay the loan
Contact the Department Of Financial Institutions
If you have questions about payday loans please contact the Arizona Department of Financial Institutions at:
Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix, AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks
Regulator Website
Where can I find a payday loan store in Arizona?
You can find the store nearest to your location by simply clicking on this link loc: Arizona
