Delaware State Information
Legal Status: Legal
Loan Terms:
- - Maximum Loan Amount: $1000
- - Loan Term: Less than 60 days
- - Maximum Finance Rate and Fees: Not Specified
- - Finance Charge for 14-day $100 loan: No Limit
- - APR for 14-day $100 loan: No Limitin
Debt Limits:
- - Maximum Number of Outstanding Loans at One Time: Limit of five loans from all licensees in 12-month period.
- - Rollovers Permitted: Four (rollovers)
- - Cooling-off Period:
- - Repayment Plan: Voluntary workout agreements. Equal installments, minimum 90 days, no fees or interest
Collection Limits:
- - Collection Fees: One fee for nonpayment if the contract so provides, not to exceed 5% of the payment amount. Attorney fees and court costs
- - Criminal Action: Prohibited
Where to Complain, Get Information:
- - Regulator: Delaware Office of the State Bank Commissioner
- - Address: 555 E. Loockerman Street Suite 210 Dover DE 19901
- - Phone: (302) 739-4235
- - Phone: (302) 577-6722 (from New Castle County)
- - Fax: (302) 739-3609
These Delaware payday loans law are basic information to assist your decision to borrow money. This information may be added or modified or canceled by Delaware government without prior notice.