San Bernardino California Payday Loan Limits
Payday loans in San Bernardino, California are barely regulated. The law allows both the creditor and the debtor to agree to the terms of the contract. However, for the protection of the borrower, the state has set certain limits. This includes but is not limited to:
- A 1 loan at a time policy
- A $300 loan limit
- A payment period of 31 days max (no minimum).
- A $15 collection limit
- A maximum of 15% finance rate
Both the debtor and creditor are free to determine if they want a cooling off period, a rollover period, and/or a repayment plan.