Iowa Payday loan Laws

By Shawn Martin


Iowa State Flag
Iowa State Flag

Iowa payday loan laws are actually in the middle of the list when it comes to protecting the borrower.

While some parts are good for the borrower, the interest rates are still out of the park.

They allow roll overs, which can cause serious financial hardship if you let the loan get out of hand and do not pay it up right away.

The length of a payday loan in Iowa may not exceed 31 days. The loan amount caps out at $500.00 and lenders must not exceed this amount.

While that may sound good you are allowed to have more than one payday loan as long as none of them exceed $500.00.

This is a bad set up for a payday loan trap because if you do not keep up with the first loan, the temptation to take out another to catch up with the first one is too strong to say no.

Then something else happens and you are already in trouble with the first two, See the trap forming? Interest rates in the state of Iowa are $15.00 on the first $100.00 borrowed and $10.00 on every $100.00 borrowed over the first $100.00.

This can add up very quickly if you start rolling these loans over, and final payback totals can near double of what you have borrowed.

The Iowa payday loan laws do help a bit to keep some of the charges at bay, but overall payday loans are really a poor way to raise needed money and can come back and bite you pretty hard.

We can help!


If you are in need of help with payday loan debt in Iowa or any other state we can help you find a bit of peace of mind in your finances.

Check out our payday loan repayment plan or call us at 1-877-280-5100 for more information on what we can do for you!!

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