Millions of people each year need emergency money for sudden expenses they did not plan for. Most of these people have some credit problems and seek out the fastest and most accessible way to get fast money – payday loans.
Yes. Payday loans are legal. However, there are states that have outlawed payday loans and many others that have put restrictions on payday loans.
Currently, payday loans are prohibited in the following states: Arizona, Arkansas, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, and West Virginia.
When someone is unable to repay their payday loan on the scheduled date, they may be able to extend or ‘rollover’ the loan. If it is legal in your state, you can expect to incur some additional fees for the rollover.
Read more here: Payday Loans - A Legal View
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