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Connecticut Payday Loans
It is fairly common to have financial problems in between paychecks, but luckily Loans Payday is here to help you find a solution to those problems. We can help you get the money you have to have before your next payday comes and we have a variety of locations at Loans Payday to help those in need. We believe in making the entire process of applying for a Connecticut payday loan as easy as can be. To meet those needs we make the application process easy and quick. The application takes only a couple of minutes to complete and the money arrives in your bank account within twenty-four hours and in some cases only a few hours. Connecticut prohibits the use of payday loans, but Loans Payday uses a number of lenders that can offer smaller loans to residents of all fifty states in the country.
Laws Pertaining to Payday Loans in Connecticut
Payday loans are illegal in the state of Connecticut. The state has a minimum fee expected from anyone who cashes a post-dated check and requires that a lender have a license from the state to deposit a check into an individual's account. A company must pay an application fee of $250 and give their personal information to the state to open a payday lending business in Connecticut. A background check is completed by the state commissioner to see if the person fits into the area they are interested in. Prior to opening one of these businesses, the individual must also have a net worth of $10,000 for each branch they want to open.
There are limits in place on the amount of fees a lender can charge when offering payday loans in Connecticut. A $50 loan can only have a finance fee of .05%. A $50 is limited to only five cents in terms of processing and a ten cent handling fee on loan amounts of over $50. Each location must list their fees in a highly visible area, the same as you will find in other states. Currently there are no payday loan companies operating in the state because of the laws in place.
It is easy to get a payday loan if you live in Connecticut. This money is available to help any resident of the state get the money they need to pay an unexpected bill right now, rather than waiting a few weeks for that next paycheck. There are situations where you need money immediately and you just cannot afford to wait. We understand that, which is why we offer the services to help. You do not have to live in Connecticut to take advantage of our fast Connecticut payday loans, we offer help to all residents of the US. Our service is simply unmatched in the payday loan industry.
LoansPayday.info is the perfect place for people to learn more about the Connecticut payday loans we offer. The entire process of applying is quite simple and the approval happens instantaneously when you use LoansPayday.info. Why wait and worry until your next paycheck arrives when all Connecticut residents can have access to the money they need now? To protect your information, we keep everything completely confidential. Our services are easy to use and you will find a helpful and friendly company waiting for you. There are no troubles attached to using our services. All you need to do is take a couple of minutes to fill out an application and get the money you need.
When you visit LoansPayday.info you will have the opportunity to fill out an easy application in just a few short minutes. You will have instant approval to the funds you need, and get access to that money unbelievably fast. Loans Payday is dedicated to giving our customers the best we have to offer as well as confidential and secure information. The money you need will appear in your bank account by the next morning, and usually within a few short hours. Get started by visiting LoansPayday.info.
The state of Connecticut makes it illegal for anyone to operate a payday loan company in the state. The laws are in place to protect the residents of the state and the laws are carefully designed to make sure that no payday lender can open and operate in the state. The lender must first receive a license from the state and they are then subjected to strict rules regarding fees for taking a post-dated check in exchange for a payday advance. A $250 fee is required to apply for a license and the applicant must submit personal information that the commissioner uses to perform a background check. Only after the applicant passes and in depth background check will they be able to open, and the commissioner must determine that the area can benefit from the services they provide. A net asset totaling $10,000 is also needed to open the business.
There are guidelines in place relating to the amount of fees a person can charge on short-term loans given out in Connecticut. If the loan amount is less than $50 it can have a handling fee of $5 and an interest rate or charge equaling 1% of the total amount of the loan. A loan that is more than $50 will have a handling fee of 10%. At the payday loan center, the fees must be listed in a highly visible location where all customers can see it.
There are no businesses operating in the state of Connecticut because state laws place too many restrictions on those companies, severely limiting their profits.
Employment Statistics in Connecticut
In 2005 the unemployment rate in Connecticut was 4.3 percent, but this number rose slightly to 4.6 percent in January of the following year. The last ten years has seen unemployment rates in the state fluctuating between 1.8 and 5.5 percent.