Find Payday Loans in Iowa
Iowa has very strict payday loan laws. Upon entering into a cash advance agreement, a consumer must be informed of his duties and rights in English and Spanish. The contract must provide a toll-free number to the office of the superintendent. Prior to signing, borrowers must be informed that the phone number is for the handling of consumer complaints. In the agreement, the cash advance lender must state the following: “You cannot be prosecuted in criminal court to collect this loan.” Similarly, check cash advance stores are required to post notices that are conspicuous and in English and Spanish. In Iowa, a borrower is allowed to make partial loan payments without having to pay more interest. Consumers can have two outstanding loans at one time.
Borrowers can request up to $500 in payday loan funds.
The cash advance loan term is 31 days.
Borrowers cannot rollover or extend their check cash advance loans.
The finance charge for a two-week payday loan in the amount of $100 is $16.67.
The APR for a two-week cash advance loan for $100 is 433%.