There are no specific cash advance laws in New Jersey. Instead, the state's consumer loan act applies. New Jersey's usury laws essentially prevent payday loan businesses from operating in the state. Furthermore, under New Jersey law, lenders are required, for at least six months, to stop servicing clients who default on loans at least three times in one year.
New Jersey law does not specify a maximum loan amount.
Loan terms are not specified under New Jersey law.
New Jersey law does not specify the number of extensions or rollovers available to a borrower.
New Jersey allows cash advance creditors to charge any fee or interest rate that the borrower is willing to pay. Although the rates are agreed to by contract, however, the small loan annual rate cap of 30% is applicable. New Jersey's criminal statutes also fix the usury cap at 30%.
This is not specified under New Jersey law.