BBB-A-Rating
Notice: As a part of OVLG's preventive measures on COVID-19 outbreak, our office will remain operational with reduced staff from home. You may face issues with the phone due to routing issues or get delayed response. So we prefer that you send us an email or make a support request for assistance. For new clients, please use our chat system.

Payday loan laws in Delaware

  • Legal status: Legal (Permitted under small loan act or licensing law)
    (Del. Code Ann. Tit. 5 2227 et seq.)
For Lenders

Lending specifications:

  • Maximum loan amount: $500
  • Loan tenure: Maximum 60 days
  • Fees and finance charges: Not specified
  • Finance charge on a 14-day $100 loan: No limit
  • APR on 14-day $100 loan: No limit

Collection restrictions:

  • Collection fees: One fee for nonpayment if the contract allows but should not exceed 5% of the payment amount.
  • Criminal procedures: Prohibited
For Borrowers

Debt limits:

  • Maximum no. of outstanding loans at a time: Not Specified (cannot have more than $1000 in total)
  • Rollovers allowed: Four
  • Cooling-off phase: Not specified
  • Repayment plan: Not specified

Complaint cell:



Last Updated on: Thu, 23 Nov 2017