Louisiana Payday Loans

Being caught without money between paydays is a serious matter - especially if you have no one that can help you. But the payday loan people can in a very short time.

It's a simple process: say you need $300, for example. You write them a check for the $300 plus whatever their fees are. They give you the money up front and hold your check. Then on your next payday they cash it and get their money back.

So what's the catch? Well, there really isn't a catch, but you do have to meet some requirements first. You have to have a valid checking account for several months- the exact length of time will be determined by them. You will also need to earn a certain amount each month. If these requirements are met then you fill out some paperwork and wait a short time to be notified. They will typically get back to you soon.

As you would guess there are guidelines set by the state of Louisiana that have to be followed. For starters, the maximum you can borrow is $350. You are not allowed to rollover the loan into a new one, but if you find yourself not being able to meet the payoff deadline you do have an option. You can pay 25% of the advanced amount, plus fees, and then you are eligible to enter into a new loan. 

Whatever you do make sure that you do not borrow more than you can afford. This is a common mistake and with fees it can become hard to repay within the time limit. Also, check out the facility you are going to do business with to make sure they follow the state's guidelines.