Do you know how much you can borrow
much you’ll have to pay?
Kansas is the 15th largest state in the US and its 34th most populous. It is amongst the most productive agricultural states in the country, with significant outputs of wheat, soybeans, sorghum, corn, hogs, cattle, sheep, and salt. The state’s industries include sectors such as aircraft manufacturing, transportation equipment, machinery, chemicals, petroleum, mining, food processing, and publishing.
In 2008, the gross domestic product of Kansas was $122.7 billion. The state’s per capita income in the same year was $35,013. In April 2015, the unemployment rate stood at 4.3%.
The need for payday loans in residents of Kansas is common. If you wish to find out how these loans work, here’s the information you need.
Check into Cash Loans
Check into Cash allows you to directly apply for a payday loan and have your cash when you need it.
- Min. Loan Amount: $50
- Loan Term: Varies upon state
- Turnaround Time: 1-2 business days
- Total Costs: Varies depending on the amount and your state of residency
- Must be 18+
- No security needed
- Confidential and secure!
A selection of loans you could apply for
Are payday loans legal in Kansas?
Yes, payday loans in Kansas are legal. It is common for people to refer to these loans as payday advances and cash advances. Kansas Statutes 16a-2-404 and 16a-2-405 govern the functioning of all payday lenders in the state.
Kansas payday loans laws state that a lender cannot have more than two outstanding loans with a borrower concurrently. A payday lender cannot provide more than three loans to a borrower within a 30-day period. You cannot repay a payday loan using proceeds from another payday loan from the same lender.
The maximum you can borrow through a payday loan in Kansas is $500.
Why should you consider taking out a Kansas payday loan?
Here’s why you might think about getting a payday loan:
- Various options. Since payday lending is legal in Kansas, you get a number of options to choose from. These include direct lenders as well as loan matching services. The latter don’t charge any fee. They help you find suitable loans after taking your situation into account.
- Easy application process. Applying for a payday loan is easy, whether you wish to apply in-store or online. You can complete a typical payday loan application in minutes. With online applications, you can apply from anywhere as long as you have access to an Internet-connected computer.
- Get funds quickly. Payday lenders don’t follow the same stringent application and underwriting processes as banks, which is why they’re able to process their loans faster. Some payday lenders can give you access to funds on the day you apply or by the following business day.
- Poor credit history is alright. Getting a conventional loan may not be possible if you have poor or bad creditworthiness. However, you can still consider applying for a payday loan, because payday lenders assess your current financial situation and ability to repay.
What fees and charges do Kansas payday loans come with?
When you get a cash advance in Kansas, you have to repay the amount you borrow as well as other costs. Here’s what Kansas payday loans laws say about finance charges:
- Maximum finance rate and fees. A payday lender cannot charge more than 15% of the advanced amount as fees. The maximum finance charge for a 14-day $100 loan is $15. The maximum APR of a 14-day $100 loan is limited to 390%.
- Collection fees. The lender can charge one NSF fee for failure to repay.
- Rollover fee. State laws do not mention any specific rollover fees.If you don’t repay the loan on time, the lender cannot charge more than 3% of the loan proceeds per month after the date of maturity.
How can I apply for a Kansas payday loan?
You can apply for a payday advance in Kansas online or by visiting a store-front. To apply, you’ll have to meet some basic eligibility criteria:
- You’re an American citizen or a permanent resident of the US
- You are at least 18 years of age
- You have a steady source of income
Successfully completing the application requires that you submit some basic personal information:
- Your name, home address, phone number, and email address
- Your date of birth
- Your social security number and a valid form of ID such as your driver’s license or passport
- Details about your employment
- Details about your income and pay schedule
Important information about payday loans
While payday loans can be beneficial for many people, they aren’t always the best option for everyone. Follow the link for more information.
Have any more questions about Kansas payday loans?
How much time do I get to repay a cash advance in Kansas?
The minimum term is seven days and the maximum is 30 days.
Can I rescind a payday advance in Kansas?
Yes, you can, provided you do it before the end of business day following the day the lender disburses the funds.
Who should I contact to file a complaint about a payday lender in Kansas?
You should get in touch with the Office of the State Bank Commissioner.