I live in INdiana and meet all the other basic requirements that lenders charge in this state. I've borrowed $600 cash advance recently to repair the car. But unfortunately it turned out to be not enough. And i need $500 more. Can I get it. How many Payday Loans can I apply for in Indiana at once?
How many Payday Loans can I get in Indiana?
Last updated:
1511
Answers: 1
COMPACOM TEAM
Expert answer
If you meet the requirements, and need not more than maximum Payday cash advance allowed in Indiana ($5000) you can legally apply for and get 2 Payday Loans in the state. Take into account that only one loan can be taken out form a lender, so these two must be from different lenders.
Other Payday loan regulations in Indiana include:
| Law status | legal |
| MIN Loan Amount | None |
| MAX Loan Amount | $550 |
| MIN. Loan Term | 14 days |
| MAX. Loan Term | 30 days |
| MAX APR | 390% |
| Additional fees | 15% of every $100 borrowed |
| NSF fee | $20, once |
| Collateral or guarantor | None, unsecured |
| Number of simultaneous loans | One from lender, two from different lenders |
| Cooling off period | 7 days after 6 consecutive loans |
| Rollover | None |
| Extension, repayment plan | 3 extensions, repayment plan |
| Default penalties | None |
| Credit score requirements | Available for Bad Credit |
Read more: Payday Loans in Indiana.
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