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By Shawn Martin
The Louisiana state payday loan laws are set up to somewhat protect the borrower to an extent, but they leave a lot to be desired.
The first thing that is troublesome is they allow payday loans up to 60 days. This can lead to many roll overs and huge fees to the borrower.
One good thing is they only allow up to $350.00 a loan, but the down side to that is you may have more than one loan at a time.
At 16.5% of the total amount loaned and a $45.00 fee per loan the charges can add up rapidly.
Louisiana loan laws do not allow payday loan companies to attach any property when collecting payday loans, and they must be licensed.
This state makes it really easy to get caught in a payday loan trap. By having more than one loan and being able to roll them over up to 60 days can create a financial melt down.
Before you know it you are in so far over your head you will wonder how you will ever get out!
If you find yourself in trouble with payday loan debt in Louisiana or any other state, please check out our Payday Loan Repayment Plan or call us at 1-877-280-5100 for a free quote and more information on how we can help you!
There is a way to stop all the headaches and get you some breathing room back in your paychecks!
Please share this information so others may find help with payday loan debt!