Payday loan laws in Idaho
Status: Legal (Idaho Code §§ 28-46-401 et seq.)
For Lenders
Lending specifications:
- Maximum loan amount: $1000
- Loan tenure: NA
- Fees and finance charges: NA
- Finance charge on a 14-day $100 loan: $17.50
- APR on 14-day $100 loan: No limit
Collection restrictions:
- Collection fees: $20 NSF fee
- Criminal procedures: Prohibited
For Borrowers
Debt limits:
- Maximum no. of outstanding loans at a time: Not Specified
- Rollovers allowed: Three (Renewals)
Complaint cell:
- Regulator: Idaho Department of Finance
- Address: Consumer Finance Bureau, 800 Park Blvd., Suite 200, Boise ID 83712
- Phone: (208) 332-8000
- Toll-Free (Within Idaho Only): 1-888-346-3378
- Regulatory contact: Mike Larsen, Consumer Finance Bureau Chief
- Website: http://finance.idaho.gov/
- File complaint: http://finance.idaho.gov/Complaint.aspx
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Please consult a qualified attorney for advice on your specific situation.
Updated on:
