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Colorado Payday Loans up to $500
Apply online for quick and easy Payday Loans in Colorado and get the necessary cash within 1 - 2 business days.
Short on money, and looking for a quick short-term loan? In Colorado, one can take up to a $500 legal Payday Loan for a maximum of up to 6 months. Just fill out a free application form and get matched with a lender and receive the money you need. Compare the best deals lenders offer online or find a loan store location near you.
Apply for Payday Loans in Colorado from the Best Direct Lenders Online or find a Loan Store near your location.
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It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.
The minimal percentage allowed that actually represents monthly cost of your loan. The MPR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000 for Payday Loans, $1000 - $5000 for Installment loans, and up to $15,000 for Personal loans. But it may vary depending on the lender and his requirements.
The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000 for Payday Loans, $1000 - $5000 for Installment loans, and up to $15,000 for Personal loans. But it may vary depending on the lender and his requirements.
The percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
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Are Payday Loans Legal in Colorado?
Loan Rates and Fees, Laws and Regulations in Colorado.
In Colorado, one can take up to $500 Online Payday Loans for a maximum of 6 months. It’s absolutely legal. The law and regulations are stated by Article 3.1(Deferred Deposit Loan Act) of Title 5 (Consumer Credit Code) in the Colorado Revised Statutes (Colo. Rev. Stat. 5-3.1-101 et seq.)1Maximum 20% can be charged with a $300 loan. The interest rate for loan renewals is 45%.
| Law status | legal |
| MIN Loan Amount | $100 |
| MAX Loan Amount | $500 |
| MIN. Loan Term | 6 months |
| MAX. Loan Term | Not set |
| MIN APR | Varies by lender |
| MAX APR | 20% |
| Additional fees | APR 20% for $0-$300 plus 7.5% for $301-$500 plus 45% for each year, plus monthly fee of $7.50 per $100 up to $30, after first month. |
| NSF fee | $25 |
| Collateral or guarantor | None, unsecured |
| Number of simultaneous loans | One |
| Cooling off period | None |
| Rollover | One rollover |
| Extension, repayment plan | Not set |
| Default penalties | Amount of a loan, plus attorney fee in case of a court |
| Credit score requirements | Available for Bad Credit |
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Before you apply for a short-term cash advance online consider other Payday Loan alternatives:
- Installment Loans and Personal Loans online
- Debt Consolidation Loans, Credit Builder Loans, Credit Cards
- Social services and local assistance programs
- Additional part-time jobs or some side gigs and freelance opportunities to earn extra cash
- Recycling for money
- Help from your employer, creditors, family and friends
- Traditional banks or credit unions.
Applying for a short-term Payday Loan you should be very careful and responsible. Plan your budget carefully not to default on the loan. Avoid rollovers, renewals, or extensions. It'll help you get out of Payday debt fast and easy.
Apply for a Payday loan Online in Colorado
We share the values of Colorado state such as service, integrity, teamwork, and respect. Be sure to get the same from the direct lenders of the "Nothing without God" state after filling out this free application form.
Any resident of Colorado can apply for a cash advance both online and in-store. But, of course, online lending is becoming more and more popular as it has plenty of advantages:
- it gives you a chance to compare a lot of different offers at once,
- you can avoid driving, doing paperwork, and waiting in lines,
- applying is free and simple,
- you have very high chances of approval even with a bad credit score,
- you can find some lenders ready to give you the loan with no credit check,
- it's available 24 / 7.
How do Colorado Online Payday Loans work?
The process of applying for an instant cash loan online is quick and simple:
- you compare the lenders and choose the one with the best rates and fees
- you fill out the necessary information in the application form
- you get the money deposited into your account within 1 business day
- you pay off the loan with your next paycheck
Requirements to qualify for a Payday Loan in Colorado:
What do I need to qualify for a short-term cash advance?
Independent lenders have their own individual requirements that must be met, but typical minimum requirements include, but may not be limited to:
- Colorado (US) residence
- Minimum regular income of $1,000 per month
- Valid checking or savings account with direct deposit
- Phone number and e-mail address (if applying online, you must be able to be contacted via phone if verification of application information is necessary)
- Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
- If applying Online, you must provide a valid Social Security Number
- If applying at Loan Store, you must bring a valid government issued photo ID. A Social Security Number might not be required
- If applying in-store, you must bring proof of income and proof of a bank checking account. Debit cards or pre-printed checks may be accepted in your state as proof of bank checking account; contact your local store for details. Acceptable documents may vary by state.
References
1. http://www.ustatesloans.org/state-co.html
2. http://www.governing.com/topics/finance/gov-payday-loans-colorado-ballot-cfpb.html
4. https://www.pewtrusts.org/~/media/assets/2014/12/pew_co_payday_law_comparison_dec2014.pdf
5. https://www.consumerfinancemonitor.com/2018/11/08/colorado-passes-36-payday-loan-rate-cap/
6. http://www.bellpolicy.org/2018/01/25/predatory-payday-lending-in-colorado/
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Any comments or reviews made on this website are only individual opinions of the readers and followers of the website. The website and its authors team are not responsible, nor will be held liable, for anything anyone says or writes in the comments. Further, the author is not liable for its’ readers’ statements nor the laws which they may break in the USA or their state through their comments’ content, implication, and intent.
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State Regulator
If you have any questions, problems or complaints, about Payday Loans in Colorado, go to their website https://coag.gov/
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Any comments or reviews made on this website are only individual opinions of the readers and followers of the website. The website and its authors team are not responsible, nor will be held liable, for anything anyone says or writes in the comments. Further, the author is not liable for its’ readers’ statements nor the laws which they may break in the USA or their state through their comments’ content, implication, and intent.