The remaining eight states have a medium level of regulation. Some cap the interest payday lenders can charge at a lower rate usually around 10 for each 100 borrowed. This works out to more than 260 annual interest based on a two-week term, which is enough for payday lenders to make a profit.
Others limit the number of loans each borrower can make in a year. And finally, some states require longer terms for loans than two weeks. For example, Personal finance brokers gold coast passed a law in 2010 requiring all loans to have a term of at least six months. As a result, most payday lenders in the state now allow borrowers to pay back loans in installments, rather than as a lump sum.
Payoff after 90 days is determined by individual state law. Please see your Lease Agreement for further details. Contact a Progressive Leasing customer service representative at 1-877-898-1970. Customer Service agents are available Monday through Friday from 8 a. to 5 p.
(MST) and on Saturdays between 8 a. and 4 p. (MST) and closed Sunday. You may also access your account online 24 hours a day, 7 days a week at: https:www.
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