Payday loan laws in New Hampshire
Status: Legal (N.H. Rev. Stat. Ann. 399-A:1 et seq.)
For Lenders
Lending specifications:
- Maximum loan amount: $500
- Loan tenure: 7-30 days
- Fees and finance charges: 36% yearly interest
- Finance charge on a 14-day $100 loan: $1.38
- APR on 14-day $100 loan: 36%
Collection restrictions:
- Criminal procedures: Prohibited
For Borrowers
Debt limits:
- Maximum no. of outstanding loans at a time: One
- Rollovers allowed: None
- Cooling-off phase: 60 days
- Repayment plan: None
Complaint cell:
- Regulator: New Hampshire State Banking Department
- Address: 53 Regional Drive, Suite 200 Concord NH 03301
- Phone: 603) 271-3561
- Toll Free: 1-800-437-5991
- Fax: (603) 271-1090 or (603) 271-0750
- Regulatory contact: Glenn A. Perlow, Deputy Bank Commissioner
- Website: http://www.nh.gov/banking/
- File complaint: http://www.nh.gov/banking/consumer-assistance/complaint.htm
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.
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