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New Jersey Payday Loans
New Jersey is currently fighting a strange and usual battle with payday loan lenders. A battle is spreading across the US with people wondering whether payday loans should be banned as an illegal activity, and New Jersey is directly in the middle of this battle. In other words, payday loans are not allowed in the state, yet these laws are not specific enough to stop the practice altogether. There are many holes in the laws that companies are using to keep their businesses operating. We use a large system of payday lenders in the state of New Jersey, which means that we can help you find the money you need to survive until your next paycheck.
Payday Lending Laws In New Jersey
New Jersey is one of the only states in the US that does not let payday lenders operate under the laws of the state. The laws can prevent payday lending in a few different ways. This includes usury laws, which prohibit cash checking, and places limits on the interest rates allowed on small loans. Payday lending is considered illegal in the state of New Jersey according to the laws prohibiting cash checking.
Businesses in New Jersey continue to offer payday loans to consumers because their interest rates are considered fees, which make the loans legal. However, if those rates were actually called interest rates, it would be illegal. This allows the company to avoid paying usury charges. Offering loans online is another way to escape the laws in the state. Online payday loans are only outlawed in the following states: Georgia, Maryland, and Massachusetts.
There are no payday loan centers in New Jersey because it is illegal to offer payday loans in the state.
Do you need money fast, but you have no way to find it? Do you need a quick fix for a serious problem? An easy way to deal with the financial problems you're having can be found by securing a New Jersey payday loan. We can help anyone get the money they need to handle an unexpected problem, even for those people who live outside New Jersey with a payday loan. Whatever the problem is: planning an event, paying bills, handling new bills, making your car payment, a payday loan can help. When you visit LoansPayday.info, you can have instant access to the money that you need now.
To get the money you need now in New Jersey, you'll find that it's fairly easy to find a payday loan. Our company allows you easy access to short-term loans, where you can borrow the money you need, and pay us when you get your next paycheck. Try doing that anywhere else!
We want to give you great service with a quick response time. Our services are easy to get, and we guarantee them. See how easy it is to request a loan, and get money now by visiting our website at LoansPayday.info. By taking just a couple of minutes to fill out an online application, you'll be on your way to getting approved and getting the funds you need.
You will love our services, but you'll also like that we keep your personal information completely confidential. Our website is entirely secure, and all your information is kept private. We guarantee that your information is protected, and since we value our customers, we make sure you don't need to worry. We want to help you find an answer to your financial problems, which is why we make the application so fast. Get started today by visiting LoansPayday.info.
In the state of New Jersey, payday loan companies are allowed to set their own interest rates and fees since the state doesn't have any laws to set such things. The state doesn't offer limits on the number of times a customer refinances their payday loan. There is, however, a law in place to limit how much a customer can borrow at any one time. In New Jersey, lenders have a maximum of $2,500 they can loan at one time. The law also requires that the lender deny customers who default three times on a loan in a 12-month period. The customer can try again for a loan after six months.
New Jersey does set up some requirements for getting licensing which is strange considering their stance on the companies at large. Prior to setting up their business, they must meet specific guidelines and apply for the license. The owner of the business is required to have a net worth of $50,000 and pay a licensing fee every two years of $2,000. The company must keep a photograph of each check it gives out, and keep proper records of all loans for at least five years. The checks they give customers must have the name of the company clearly printed on the front.
Lenders are also required to keep proper records of every transaction. These records must include the borrower's name and social security number, date and time of loan, date and amount of the check, and the fees charged. In addition, it must include the lender's name and the names of anyone who witnesses at the time. The customer is required to sign a copy of the check, and this image must be added to the record.
Unemployment Statistics For New Jersey
The unemployment rate in the state has fluctuated between 3.3% and 7.2% for the last ten years. New Jersey's state unemployment rate was 5% in January of 2006. This shows that 224,429 citizens of the state did not have jobs at that time. The previous year's unemployment rates were slightly lower at 4.8%.
- Asbury Park
- Atlantic City
- Bound Brook
- Cherry Hill
- East Brunswick
- East Orange
- Forked River
- Jersey City
- Long Branch
- New Brunswick
- North Bergen
- North Brunswick
- Perth Amboy
- Red Bank
- Rio Grande
- South Bound Brook
- Toms River
- Union City
- West New York