Are Payday Loans Legal in Victorville California?
The answer is YES, payday loans in Victorville, California are legal. Federal law leaves it to each state to determine the legality of the same. California law, specifically California Finance Code 23000 to 23106, expressly allows payday lenders to set up shop within the state.
California is considered a safe haven for payday lending. However it is not without limits. Below are limits designed to protect consumers. This includes but is not limited to:
- 1 loan at a time for each individual
- $300 loan limit
- 15% (of check) maximum finance charge
- No criminal case for nonpayment of loan