A guide to Payday Loans in Missouri, USA.  

What are the Citation (s) to Payday Loan or Small Loan Laws in Missouri?
A: The relevant citation regarding Payday Loans in the Missouri State Jurisdiction is Mo. Stat. Ann. § 408.500 et seq.; Mo. Code Regs. Ann. Tit. 4 § 140-11.010 et seq.

Q: Are Payday Loans legal in Missouri? 
A: Yes Payday Loans are legal in Missouri. 

Q: What is the Maximum Cash Advance Loan Amount in Missouri?
A: The maximum Cash Advance or Payday Loan amount is $500. 

Q: What is the Payday Loan Term in Missouri?
A: The Payday Loan Term in Missouri is 14-31 days. 

Q: What is the Maximum Rate and Fee for Cash Advance Loans in Missouri?
A: The Maximum fee for Cash Advance Loans in Missouri is Not Specified. However, no borrower is required to pay a total amount of accumulated interest and fees in excess of 75% of the initial loan amount on any single authorized loan. Otherwise, interest is set according to small loan law, which provides that parties may set rate by contract. 



 
Q: What is the Finance charge for 14-day $100 payday loan in Missouri State?
A: The Finance charge for 14-day $100 payday loan in Missouri is $75. 

Q: What is the APR for 14-day $100 payday loan in Missouri State?
A: The APR charged for 14-day $100 payday loan in Missouri is 1980 percent. 

Q: Is there a limit on the number of payday loans I can take at one time? 
A: The maximum number of payday loans you can take at one time is not specified. 

Q: How many times can the lender rollover my payday loan in Missouri? 
A: The lender can rollover (renew, extend) the payday loan six times but the borrower must pay at least 5% or more of the loan at each renewal. 

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: No the lender cannot initiate a criminal action against the borrower, unless the check was returned due to closed account or stop-payment by maker. 

Q: Can I be charged a collection fee for a payday loan?
A: Yes, NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check.

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the Missouri Department of Financial Institutions at:

Missouri Division of Finance
Address: Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City, MO 65102
Phone: (573) 751-3242
Fax: (573) 751-9192
Regulatory Contact: Joe Crider,, Supervisor, Consumer Credit

Website: http://www.missouri-finance.org/

Where can I find a payday loan store in Missouri?

You can find the store nearest to your location by simply clicking on this link  loc: Missouri