Payday Loan Companies in Los Angeles
Get the money you need for emergency expenses and unexpected bills from the best payday loan companies in Los Angeles. You can’t keep emergencies from happening. If you need cash and can’t raise the funds another way, a payday loan can be a lifesaver. Here are the things you should know about payday loans in California and what to look for from a payday loan company in LA.
California Laws Regarding Payday LoansCalifornia’s Department of Business Oversight regulates loan products, including payday loans. Legitimate payday loan companies are licensed by the state. If you come across a lender who is unlicensed, don’t sign the paperwork. Unlicensed lenders often charge higher fees and interest rate and may try to access your bank account without your knowledge. If you don’t have the money available, you’re responsible for fees for bounced checks and overdrafts. If you cannot pay, the company cannot threaten to you with a criminal court hearing. In California, you cannot borrow more than $300 with a payday loan. Payday loan companies in Los Angeles are limited to the state’s laws limiting fees to 15 percent of the loan value. If you cannot repay your current loan, you cannot take out a new loan to pay off the old one. If you request an extension, the payday loan company is not obligated to approve your request, but if they do, they cannot charge you any additional fee.
Finding the Best Payday Loan CompanyAs of March 2016, there were more than 1,900 payday loan offices in California. Protect yourself by making sure you ask to see the license of payday loan companies in Los Angeles before you sign any paperwork. Here are a few lenders that are licensed in California and get great reviews from borrowers.
- Advance America: Advance America provides payday loans in Los Angeles and is licensed by the state. Find the office on North Vermont. When you apply, make sure you have your photo ID, bank statement, and proof of income.
- Cashback Loans: Located on North Avenue 64, Cashback Loans is open seven days a week for your convenience. They’ve been in business for more than 20 years and make it clear that they follow the Fair Debt Collection Practices Act.
- Check ‘n Go: Licensed by the State of California, Check ‘n Go has offices throughout Los Angeles and outlying regions. Look for offices on Colorado Boulevard and North Figueroa in LA. Both payday loan offices are open Monday through Saturday.
- Fast Auto and Payday Loans: Borrow up to $255 at Fast Auto & Payday Loans. The loan company also offers title loans. There are several Los Angeles offices, including locations on East Florence Avenue, South Flower Street, South La Brea, and South La Cienega Boulevard.