Georgia Laws For Payday Loans

By Shawn Martin


Georgia State Flag
Georgia State Flag

The Georgia laws for payday loans are a bit different than other states.

One of the biggest differences is the amount they will allow the borrower to take out.

The lender must not borrow below $3000.00 or be in violation of the usury law. The are also not allowed to exceed 16% in interest charges

A Payday loan company may charge 16% interest if they are borrowing the loan directly to the customer and they must hold at least 50% of the interest in house.

State-chartered banks that are operating within the federal law and owned out of state are allowed to charge more than the 16% cap.

All confusing?

We agree. The best way to approach these loans is to pay them off in full as soon as possible and never use them again.

If a person who gets in a bind is disciplined enough to take out the loan for a one time, short time frame and pay it off when it comes due in full all would be well.

You would get hit by the high interest rate, but it would be done and over with.

That would be in a perfect world. Statistics show the average payday loan is rolled over 4 times before payoff in full.

This leads to horrendous charges every time you roll it over.

We can help!


If you are having trouble and need help with payday loan debt in Georgia or any other state we can help.

Please check out our Payday Loan Repayment Plan for a free quote on how we can help you get back some peace of mind in your finances!

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