Every state has its own laws governing pay day lending. These laws cover the maximum amount a person can borrow on a pay day loan, the maximum fees and interest rates a lender can charge, and how long a borrower can hold a pay day loan before it must be repaid. There are also laws covering how many rollovers or extensions borrowers are allowed if they cannot repay the entire loan on time. In New Hampshire, the maximum amount of a pay day loan is $500. Lenders cannot charge finance fees higher than $1.38 on a 14-day, $100. loan. The maximum term for a pay day loan is 31 days. New Hampshire does not allow rollovers. There is a sixty-day cooling off period between pay day loans.
Due to how little payday loans can legally charge in New Hampshire, pretty much all of the physical payday loan offices have simply vanished. You will have to rely on online companies instead.
New Hampshire Pay Day Loan Laws
Maximum Loan Amount: $500.00
Maximum Finance Fees: $1.38 on a 14-day, $100. loan
Annual Percentage Rate: 36%
Maximum Payoff Time: 31 days
Extensions Allowed: Extensions are not allowed on pay day loans in New Hampshire
Top 5 New Hampshire Pay Day Loan Companies
Online Company
90dayadvances.com
Borrowers only need a monthly income of $800 to qualify for a pay day loan through this company. Credit and banking problems will not disqualify a person from receiving a loan. Their participating lenders can issue loans up to the highest amount allowed by state law. This company offers no-fax loans making it very easy for New Hampshire residents to get the money they need quickly.
Online Company
secure-cashadvance.com
This company offers bad credit, no-fax pay day loans. Borrowers can only have one loan at a time when using this company so you should try to get what you need when you initially apply. You need to have a direct deposit bank account and a monthly income of $1000 or more to qualify for a loan with Secure Cash Advance. The express application can be completed in a few minutes and you can find out whether or not you’ve been approved almost instantly. The rates and terms of this company will vary depending on loan amount and payback time.
Online Company
www.usapaydaynet.com
USA Payday Net is an online only company that specializes in working with borrowers across the country. Due to the strict regulations in New Hampshire, there aren’t many physical payday loan offices so this company is able to skirt around the payday loan laws by offering various types of alternative loan instead. The rates and terms will vary but if you need a payday loan in New Hampshire you don’t have a whole lot of options as of 2011. This company does allow medium and long-term loans if you need them.
Online Company
www.rushadvance.com
Rush Advance is another online company that is able to work with residents in states where payday loan laws and regulations are extremely strict. In New Hampshire you can use this company to get small to medium payday loans fairly easily with the state rates. Due to the extremely low rates and APR, it can be difficult for companies to find a lender willing to work with you in this state. This company’s website states that it will work with borrowers anywhere so it could be an option for you.
Online Only in New Hampshire
Many locations across the US
www.cashadvance.com
Cash Advance is an online company primarily, but also has numerous physical locations scattered across the US. In states with loose payday loan regulations, you might find a dozen offices but in states such as New Hampshire extremely strict laws, it’s just not feasible to have a physical location. The loan process still works the same way as if you were to visit an office. If you meet the requirements, you will have money deposited directly into your bank account and it will be deducted at the agreed-upon time.