October 26th, 2012 by Shawn Martin
The maximum amount you may borrow at one time is $500.00 and there is no limit on the interest rates.
The small loan laws of Delaware allow the lender to charge any amount of interest the borrower agrees to pay.
The payday loan laws of Delaware have a maximum time frame of 59 days.
You may roll over your payday loan in Delaware up to 4 times.
On a good note the lenders of payday loans may not collect check charges or bank fees for payday loan debt, but make up the difference in interest rates, which lead to extremely high rates passed on to the borrower.
Delaware allows borrowers to take out up to 5 payday loans a year. They are allowed to extend loans of up to $100.00 to 12 months.
While one would think the Delaware State Payday Loan Laws are looking out for the borrower, to let a loan be extended up to 4 times is not in the best interest of the borrower, and can easily lead to getting caught in a payday loan trap.
We can help!
If you are are in need of help with payday loan debt in Delaware or any other state we can help.
Please check out our Payday Loan Repayment Plan page for more information on how we can help you take back your paycheck and get some piece of mind in your finances!!