Arizona Payday Loan Laws

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Arizona State Flag

Arizona payday loan laws cover several points that were meant to help the borrower.

The interest rates are 15 percent and a borrower may only have one payday loan at a time.

This only one loan at a time law was added for the protection of the borrower but lack of follow up on the lenders part creates a situation where the borrower can easily obtain more than one payday loan.

While the answer may be illegal, when asked if they have any other payday loans taken out, borrowers are just stating they do not, thus the lender goes by the word of the borrower and writes the loan.

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