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Hawaii Payday Loans
If you find yourself needing some cash to get you through the week, Loans Payday can help you. We provide a fast and simple solution to your financial needs. The cash is deposited into your bank account the following day after applying. If you have been thinking about applying for a Hawaii payday loan, do not procrastinate any longer. Submit your application today.
Hawaii Laws Pertaining to Payday Lending
Payday lending is legal in Hawaii. The state does have rules that regulate payday lending. For example, the maximum terms allowed for a payday loan is 32 days. There is no minimum term on a Hawaii payday loan. The maximum amount is $600, and once again, there are no laws regarding the minimum amount for a loan. State law further states that the lender may charge a maximum of 15% of the loan amount. A fee of $17.65 may be applied for every one hundred dollars that is borrowed. Finally, the effective fourteen-day annual percentage rate (APR) is 459% on a Hawaii payday loan.
Due to the rapid growth of payday lending agencies, the exact number of operating companies in Hawaii is unknown. Payday Hawaii, which is one of the leading payday companies, presently has 12 offices operating throughout Hawaii. However, since this type of operations is legal in Hawaii, new centers appear regularly.
If you are a resident in Hawaii, do you spend time enjoying the beautiful surroundings or worrying about not being able to pay your bills? Residents in Hawaii face unforeseen circumstances just as residents do elsewhere. Emergencies and unpaid bills can keep you from enjoying the natural paradise that surrounds you. You may feel overwhelmed by the pressure to pay bills if you do not have the necessary cash. Loans Payday is here to tell you that all that stress is unnecessary. There is no sense in making yourself sick with worry. You owe it to yourself and you owe it to your family to maintain peace of mind so you can make sound decisions. We are a Hawaii payday loan company that can help with instant payday loans to qualifying consumers throughout the US. Any eligible resident can submit an online application and receive instant approval through LoansPayday.info.
You may be wondering how payday lending works. It is a simple process. All you have to do is fill out a quick application for a Hawaii payday loan and you can expect instant approval. We will then make the cash available to you and you pay back the loan when you receive your next paycheck. It is that simple.
You can use the cash to pay bills, or purchase products and services. There are no restrictions on how you can use the cash. Not only that, but you will find our application and approval process to be the simplest available online. You do not need to worry if you are not computer savvy. If you can read, you can navigate through our website. It is user-friendly and anyone can apply. Helping you is our priority. We make your concerns our concerns. At LoansPayday.info, your privacy and security are on the top of our list. We value your privacy and guarantee a secure website. Visit LoansPayday.info and obtain financial freedom so you can start to enjoy life again.
The state of Hawaii has laws to regulate Hawaii payday loan companies in the state. Hawaii is not the only sate with payday regulations. Currently, 22 other states regulate payday activity to various degrees. Hawaii payday laws state that lenders have to provide a copy of the written agreement to each customer who takes out a Hawaii payday loan. The agreement must itemize fees and charges pertaining to that transaction in US dollar amounts. The agreement must also include the annual percentage rate. Hawaii law does not allow the use of collateral to obtain a loan. Therefore, the agreement does not need to include the mention of collateral.
State restrictions specify that the maximum term for a Hawaii payday loan is 31 days. A customer can borrow up to a maximum of $300 per transaction. According to Chapter 478, the cap on fees that a lender can apply to a loan is 15%. A lender that charges over 15% is in violation of Hawaii law.
A customer who has an existing Hawaii payday loan with a lending agency cannot qualify for a second loan. Under Hawaii law, borrowers can only take out one loan at a time. The loan must be repaid before qualifying for another loan. The law also states that a lender may not issue a loan to a customer for the purpose of paying back a previous loan.
The law further states that a lender may not file a lawsuit against a customer to collect an outstanding loan. Moreover, a lender who receives a postdated check cannot sue the customer if the check bounces. However, if a check is returned due to insufficient funds, the lender can charge a maximum recovery fee of $20.
Unemployment Statistics in Hawaii
The unemployment rate as of January 2006 was 2.2 percent. This means that 230,195 residents in Hawaii were without a job during that time. This is the lowest rate this decade. It represents a 0.4 decrease from the previous year. Hawaii has experienced a decline in unemployment rate since June 1998. Unemployment reached its highest point in the past decade with 6.5 percent in 1998.