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Payday Loans in Florida



Real financial stability is the thing everyone strives for, but it often happens, so that some unexpected and unpredictable situations get us into a hard financial position, which can be solved with the help of payday loans in Florida.


Loan In Florida, Installment Loans Florida


Some people can borrow money from their relatives and friends. The only way out for the others is to look for financial support in banks or payday loan office. Loans in Florida are an easy way to improve your general financial situation. The possibility to obtain a credit online makes it much more convenient and fast, compared to the time-consuming process of getting a loan in a bank. Our online money-lending service express-cash.biz can assist you with obtaining the cash advance on the very favorable and easy conditions.


The Peculiarities of FL Payday Loans



In fact, the term "payday loan" is substituted with the term "deferred presentment transactions". This procedure is legal in the state of Florida. Therefore, anyone having financial troubles can ask for cash credit in one of the loaners providing payday loan services in Florida. Speaking about the limitations in the sum and the period of using the loan, the state sets the following rules:


  • The minimum period of using a short term loan is 7 days.

  • The longest period of using the loan cannot exceed 31 days.

  • The maximum sum of money that can be provided as a short term loan is $500.

  • The law does not limit the minimum payday loan amount of money.

  • Finance charges are limited to 10%.


Since July 1, 2019, the laws of the state of Florida extended the administrative possibilities of the lenders and the loan borrowers. Based on the updated legal regulations, the number of the deferred presentment transactions paid in installments can reach $1000. The period of using these funds is set within the terms of 60 to 90 days.

The law on payday cash advance prohibits charging more than 8% of the outstanding loan balance every two weeks, when it goes about the loans paid in installments. The APR for the short term loans Florida is 304%.


The borrowers in Florida are prohibited to have more than one loan at a time. The cooling-off period between the payday loans is 24 hours. In the case of installment loans, this period is 13 – 30 days. By the way, rollovers are prohibited in Florida, which means that you have to repay the loan on, or before the due date. In some situations, the borrower can use a 60-days grace term to be able to pay off the mortgage. However, such possibility should be discussed with the loaner individually and in advance of the due date. It is prohibited to charge penalties for early repayment of the loans.

Florida Borrower Requirements



To get a cash advance Florida, the borrower has to comply with the basic requirements, set by the deferred presentment transaction regulations. They are listed below:


  • Age not younger than 18 years old

  • US citizenship

  • Legal employment with the same employer for the period not less than 90 days

  • Personal phone number

  • Valid email address

  • Valid ID or driving license

  • Active bank account in your name

Besides, the potential borrower has to meet minimal requirements for the income. Therefore, the lender can get guarantees, that they'll pay the money back.



Loan Application Procedure



One of the biggest advantages of quick online payday loans is the application process. You can fill out for a loan regardless of where you are. The only thing you need is a mobile gadget with internet access. What's more, you are free to ask for the money at any time of the day and night. Using our service, you'll know about the credit approval within 30 minutes at the most. So, to get a payday loan Florida, fill out a small application form.


There you'll have to state the details about your name, surname and birth date. Besides, be ready to provide your Social Security number, and your contact information. Because the moneylenders need to evaluate your solvency, you are to provide your employment details (job title, employer, contact phone, time employed). Your monthly income and the earliest payday should also be included in the application form. ID-card or your driving license number, as well as bank account information, are also on the application form questionnaire.


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Though it seems like a lot of information is needed, the time you'll spend filling out the form is about 10 – 15 minutes. Approximately the same time is needed to get loan approval.

When one of the Florida cash advance lenders approves you as a consumer, you'll get an email with a contract. Even if you are in a hurry and need the cash here and now, make sure you read the document carefully. By doing this, you'll learn about the details and the possible additional fees making by the lender. Only if you agree to every clause of the contract, sign it. As soon as you are done with it, the money will replenish your bank account within one business day.



Grounds for Loan Refusal



Florida is one of the states where short-term cash credits are extremely popular. Every year the Floridians borrow more than $3 billion. However, not everyone can get online payday loans Florida. Some people get a refusal. Let's have a look at some of the most common reasons that lead to such situation.


The state law doesn't allow to have more than one short term loan at a time. However, some individuals ignore this norm and try to get another credit before completing the previous one. This kind of violation can be checked in the Deferred Presentment Transaction System, where every payday loan borrower enters as soon as they get an advance. Therefore, a person won't be able to obtain financial help until he/she repays the previous credit.


The inability to prove, that you have a legal source of regular income can also become an issue for getting a deferred presentment transaction in Florida. The lender won't approve your loan application, if you don't have either enough money on your bank account, or you don't have a stable job.


A mistake in the application form is another reason for a loan refusal. You should check all the information you've written twice to make sure you haven't made any mistakes.

The applications are usually processed automatically. Therefore, any mismatch in your name, social security number, or other information you provide may give grounds for refusal by inspector.



Pros and Cons of Payday Cash Advance



Some US states give a real battle to payday loans. Florida, on the contrary, supports this type of easy financial help extending the possibilities for both, the borrowers, and the lenders. So who is right? Let's figure it out on the chart below.




As can be seen, the correlation between the pros and cons is in favor of the payday credits. If the borrower understands the responsibility, which he/she undertakes by applying for a short-term cash advance, there will be no problems with repaying the debt.

How to Act in Force Majeure Situations?


It may happen, so that some unforeseeable situations break your plans, and you can no longer fulfill our financial obligations. You can lose your job, get into the hospital, or face other problems that influence your solvency. You have to inform your loaner about any issue that can prevent you from timely loan repayment. As Florida payday loan laws don't allow rollovers, you will have to solve the problem in a different way. The borrower can ask a lender for a 60-day grace period. Still, it should be done before the final repayment date.


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Solve the problem right after it appears. Late payment is never a good decision, as you'll be charged with additional fees. Therefore, the amount of your debt will grow daily, and it will be more difficult for you to cope with the situation.



How to Pick out the Best Payday Loan Service in Florida


Some customers using our service get loan approvals from several services. The problem that appears then is how to choose the one offering the best conditions on deferred presentment transactions. All the money-lending services cooperating with our website are licensed according to the legal requirements of the state of Florida.


The APR is the key thing to pay attention to when choosing between the moneylending services. The next thing to take into account is the minimum and the maximum sum offered by the lender. Florida loans legal regulations limit the biggest sum of up to $500. However, if you need $100, it's no point to stop your choice on the loaner offering a minimum loan amount at $200.


The law limits financial charges to 10% for every $100 plus verification fee, which shouldn't exceed $5. But there can also be some additional fees. The figures can vary in different lenders, so it is better to do investigations and learn about the terms offered by all the services who are ready to work with you.





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Positive Experience with Payday Cash Advance FL


The bulk of the customers, who have once taken a cash advance, repeat this experience again. They have already evaluated all the benefits of fast financial help and are not afraid to apply for a loan again. It's also not rare, that a person becomes a loyal client of one of loaners. Such cooperation works positively for both parties of the agreement. The company gets a regular customer, and the person can get more favorable credit conditions.


To get such privileges, you should repay the loans in time. Loyal clients can count on lower APR, which is definitely a big plus. Besides, these customers can get higher sums of payday loans Florida for a more extended time period, still, if it doesn't violate the law of FL.

Personal Loans Bad, Short Term Loans

Frequently Ask Questions

Why should I opt for payday loans?

It is a fast financial help for people who have got into financial trouble, but their payday is a week or more away. Payday loans are unsecured credits that help to deal with temporary financial difficulties.

Is it legal to apply for a payday loan in Florida?

Yes. The state does allow its citizens to use cash advances on the legal basis.

How can I obtain cash advance in Florida?

The best way to find a reliable lender is to use our online service. We work only with licensed lenders in Florida and can help you obtain the needed sum within minutes.

Am I obliged to sign a contract with a lender?

No. After you get an approval from one or several money lending services, you receive a contract to your email. In case you don't agree with the terms of the loans, written in the document, you can refuse to sign it.

How to repay a loan?

Many moneylenders and institutions offer a direct withdrawal option for repaying a cash advance. If you opt for it, the funds will be withdrawn from your checking account in an auto mode, so that there's no chance you can miss the repayment date. You should only care there is enough deposit to cover the loan, including the finance charges and interests.

How soon can I get another loan?

You can apply for a payday cash advance 24 hours after you repay your previous loan.

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