Colorado payday loans or cash advance laws are as complicated as in any other state. The cash advance regulations in Colorado are some of the most complexes, from the loan term limits and fees cap to the loan terms. We will help you understand the most important details and make it as easy as possible.
CashinaMoment can help you get the money you need now with payday loans near you in CO.
If you have monthly bills that you need to pay now or you’ve had to pay for a car repair, a payday loan may be the right choice for you. Your loan request at CashinaMoment will result in a referral to our large direct lender network across Colorado, giving you a better chance of securing your loan, and fast!
You can also find state legislation that covers short-term lending on your state website. Every state has its own laws and lending regulations. These laws apply to cash advance loans.
Payday loans are a quick way to get money in an emergency. The lender will transfer the funds directly to your bank account. The lender will then withdraw the loan funds (plus any fees) at a specified date. This usually happens within one month.
Maximum amount –
Colorado law states the maximum loan amount is $500Repayment extensions –
You can only rollover one time. It is up to the lender whether you receive one.Minimum loan term –
6 months is the minimum loan termThe annual interest rate –
The maximum interest rate that can be charged is 36%.We think Colorado’s cash advances laws are superior to those in many states.
You can get a Colorado payday loan from $100 up to $500. Before sending your request form, you should consider how long you want to borrow and whether you want to repay on your next payday or pay over time. If you choose a short-term loan, you repay the money 2-4 weeks later in one final repayment. With longer-term loans, you can borrow the funds for longer and pay them back in equal installments each month.
You can repay the amount early at any time, which will also save you money. If you cannot repay your Colorado payday loan on time, interest or penalties may be added.
You can send a request for a Colorado payday loan online with CashinaMoment. There is no fee for using our service, and it only takes a few minutes. We work with lenders to come up with options for you. Banks can take up to weeks to come to a decision and often take credit scores into account when reviewing a personal loan.
If your request isn’t approved, you’ve wasted time and effort and still don’t have the cash you need. Our results come back in 90 seconds or less after you submit your request. Requesting a payday loan won’t impact your credit rating.
You can still get a payday loan in Colorado with a poor credit score. CashinaMoment’s lenders accept all credit histories, so you should still apply even if you have already been turned down by a bank because of bad credit. A bad credit loan in Colorado maybe your best bet, though.
CashinaMoment makes receiving a payday loan very quick! Just fill out the form online, and you’ll receive an instant decision. If accepted, you will find the money in your account in one business day.
With CashinaMoment, customers can search for loans ranging from $100 to $500. Once you click on “Get Started,” you’ll be taken to our short, secure form, which asks for some basic information, including the loan amount you wish to borrow.
Once you’ve provided CashinaMoment with all the relevant details, we’ll then search through our network of direct, trusted lenders and find the right one for you and your borrowing needs. We’re a referral network, not a lender. This means that if approved, the funds from the loan won’t come from us but rather from the direct lender we connect you to.
There are a few tips to make your loan request for a payday loan in Colorado even faster. You should also try to avoid national holidays and weekends for the best response.
It also helps to have all your details ready to go when filling out the form, so keep your bank and employment details on hand. Once you’ve made your request, don’t head out shopping or to the gym! You’re best to stay close to the phone or email and remain available to respond.
| Legal Status | Legal |
|---|---|
| Max. Interest Rate (APR) | 36% |
| Minimum Loan amount | Not Specified |
| Maximum Loan Amount | $500 |
| Minimum Loan Term | 6 months (180 days) |
| Maximum Loan Term | Not Specified |
| Number of Rollovers | 1 |
| Number of Outstanding Loans | 1 |
| Statute of Limitations | 3 years (from the last payment) |
| Finance Charges | no more than 36% of the loan |
You must:
Colorado imposes a $500 amount limit on payday loans (deferred deposit loans) offered in the state. The amount of all outstanding loans of a borrower should not exceed $500 at one given time. Payday loans can be taken for a period starting from 180 days and longer. The finance charge must not exceed an annual percentage rate of 36%. Criminal actions in all cases are prohibited.
No more than 36% APR can be charged for any payday loan:
According to state law, one NSF collection fee can be charged, not exceeding $25.
In case the loan is not repaid, the amount of the loan plus attorney fees can be recovered through civil court. However, a collection agency is not allowed to file any actions against a borrower apart from the cases when the checking account of a borrower was closed before the repayment was made.
If you are looking for an online payday loan in Colorado Springs, CashinaMoment can help you get an immediate cash advance easily and quickly. We are a payday loan referral service and connect you with our large network of 100+ payday loan providers. We aim to provide safe and convenient payday loan options to the residents of Colorado.
The total of your outstanding loans cannot exceed $500.
The most common reasons include not passing affordability checks, past borrowing history or missed payments, and current income (e.g., not having enough income to qualify).
CashinaMoment is an online payday loan referral service in Colorado. With years of experience, we are committed to helping the people of Colorado to solve their emergency cash situations quickly by providing online payday loans.
The short answer is yes. A lending company can sue you in civil court if you default on your debt. This rarely happens as lenders send loan defaults to collection agencies that can take you to civil court if they are unable to collect the debt. For you to be sued in civil court, you must be delinquent on your payments and in violation of your loan agreement.
Note: Payday lenders (or collection agencies) can never take you to criminal court.
The most significant advantage of a cash advance or online loan in Colorado is that the lender can approve the loan much faster than other money lending businesses. This allows borrowers to address their emergency cash situations.
The borrower's credit score is not a factor in the loan decision. The lender may overlook a bad credit score if the borrower earns enough money to pay the loan back on time. Usually, granting the loan is decided in seconds.
Borrowers may apply for bad credit loans or cash advance loans from anywhere on their smartphones, pads, or PCs by filling out a short, secure loan request form and submitting it online. It usually only takes a few minutes.
The money is deposited directly into your bank account if your loan request is approved.
You can have just one payday loan at a time in Colorado. The loan must be paid in full before you are eligible to request another one.
When you request a payday loan, you agree to repay it on a set date. Your lender will automatically deduct the amount due from your bank account on your specified due date.
Yes. Lenders require an active checking account, so they can deposit your cash advance into your account as well as receive payment on your due date.