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Delaware Payday Loans

There has been a lot of conflict in Delaware concerning the payday loan industry. It has been the subject of countless ongoing debates between those in favor of payday loans and those who oppose this type of lending. Several major financial institutions, including County Bank, have stopped offering payday loan services in recent years because of all the pressure from opponents. Many people are under the impression that these short term loan options have been outlawed but a Delaware payday loan is still a perfectly legal and viable option.

Delaware has long endured a stable rate of unemployment; in fact, in the past decade the rate has not varied by more than two points in either direction. The rate actually declined slightly in January 2006, down to 4.3% compared to the 4.5% unemployment rate for the same month in the prior year. Usually a strong rate of employment increases the competition for the payday loan industry but the continuing debate has kept the competition low for a Delaware payday loan. is one of only three remaining companies to offer these services in the state.

The laws governing payday loans in Delaware are not very restrictive at this time, despite the attempts by opponents to legislate tighter regulations. The lender has free rein with when to charge fees and can do so daily, weekly, monthly or even annually. These fees and how they are structured are required to be outlined in the contract with the loan recipient and each business must have a schedule of finance fees posted at the lending facility. If a lender completes transactions over the telephone they must ensure that they tell the client what the fees are and if the transaction is completed online, fees must be prominently featured on the lender's website. You will find that is in full compliance with Delaware payday loan regulations.

Delaware Payday Loan

Despite some vocal opposition to the Delaware payday loan industry, there is still very little regulations in place governing Delaware payday loan lenders. There have been proposals made to tighten the law concerning short term loans by amending the current Title 5 legal code that applies to lenders licensed in the state of Delaware. One resolution that is being discussed on the floor of the legislature is known as SB203.

This amendment, if passed, will limit lenders in what terms and restrictions that they will be allowed to place on Delaware payday loans. According to the proposed law, lenders will need to offer up to 60 days for repayment terms on short term loans of less than $500. Lenders will no longer be allowed to issue loans for $3000 or less when the loan is secured by a lien on a vehicle and the repayment terms for a lien secured loan will need to be at least 180 days.

One thing that is unique to obtaining a Delaware payday loan will remain the same under the proposed bill which is the requirement of a thumbprint signature by a customer in order to cash a Delaware payday loan check. This type of signature means that instead of endorsing the check in the usual way, by signing, the customer must place a thumbprint on the endorsement line. This rule was established in order to combat the incidences of check fraud. It has proven to be successful given the 63% reduction in fraudulent check activity being reported by Delaware payday loan companies.

If you are a resident of the state of Delaware and find yourself in need of emergency cash, do not be alarmed by the scarcity of payday loan lenders in the state. is here to help you get the cash you need. We are a professional Delaware payday loan company that specializes in the short term loans that allow you to get cash for unexpected expenses that can come up. We are dedicated to providing you with the money you need right away and you can pay us on your next payday.

You may be surprised by how quickly you can access needed cash through our Delaware payday loan program. We have the immediate solution to take care of the sudden debt that needs to be paid between paychecks. There are many reasons that a person may need a short term loan and we offer the help you need in obtaining one. Whether it is for a special event, emergency home repairs or having your brakes fixed, is there to assist you.

It will only take a few minutes to fill out the application for a Delaware payday loan on our website with our easy payday loan application process. Once you fill out and submit your application, you will be pleasantly surprised by the speed of our approval process as well as how quickly you can access the cash you need. Your information will be kept in the strictest confidentiality and the process is completely secure. Visit our website at today to discover how easy it is to get the cash you need today.