Payday Lenders in Idaho
Payday Loan Laws
In Idaho, payday loans have very loose regulations with no defined interest cap or financing cap. Since there is no defined limit on the interest allowed, some lenders charge over 625% APR on payday loans. The Idaho Credit Code regulates them, requiring loan companies to obtain licenses. By law, the loan agreement must clearly indicate all fees and charges in dollars, and lenders must make it clear that payday loans are short-term and must be repaid on time. Lenders must also inform the borrower that any renewals will incur additional charges before agreeing to the loan terms.
The State of Idaho has several other pieces of legislation that govern payday loans:
Loan Terms and Conditions
Maximum loan amount: $1000 or 25% or gross monthly income (whichever is less)
Maximum Interest Rate: No maximum defined in legislation
Minimum loan term: No minimum defined in legislation
Maximum loan term: No maximum defined in legislation
Number of rollovers allowed: 3
Finance Charge: No maximum defined in legislation
Legal action: 5 Years
Certified Payday Lenders in Idaho
|Company Name||Company score||License Status|
|ENOVO International Inc||7.8||Valid|
|CURO Intermediate Holdings||7.2||Valid|
|CNG Financial Corporation||6.8||Valid|
|Security Finance Corp||6.4||Valid|
|Advance America, Cash Advance Centers, Inc||5.8||Valid|
|Big Picture Loans, LLC||5.1||Valid|
History of Idaho Payday Loans
How to file a complaint
Idaho Payday Loans Debt Relief
How to Get out of Payday Loan Debt?
Types of Quick Loans in Idaho
Alternatives to Payday Loans in Idaho
Idaho Income Information
|ENOVO International Inc||6|
|CURO Intermediate Holdings||4|
|CNG Financial Corporation||2|
|Security Finance Corp||2|
|Advance America, Cash Advance Centers, Inc||2|
|Big Picture Loans, LLC||1|
Consumer Financial Protection Bureau. Consumer Complaint Database. Accessed on April 19, 2023.
|Can’t contact lender||8|
|Unexpected fees or interest||8|
|Payment withdrawal on wrong day||4|
|Can’t stop charges to bank account||3|
|Received a loan didn’t apply for||3|
|Regular Expenses (Utilities, car payment)||53%|
|Did not answer||2%|
Payday Lenders by City
Frequently Asked Questions
Will applying for a payday loan impact my credit?
What do I need to apply for a payday loan?
Can I cancel my payday loan?
Can a payday loan lender garnish my wages?
Can spouses have separate loans?
When will I receive my funds if I am approved for a payday loan?
What happens if I can’t repay my payday loan on time?
When could I apply for another payday loan?
In Idaho, you can apply for another payday loan as soon as you pay off your previous loan.