Legislation of Payday Advances (Economic Economics)

A “payday loan” is a loan of quick extent, often a couple of weeks, with excessive rates of interest. Pay day loans are usually unlawful in Georgia, unless produced by a Georgia licensed loan that is industrial or an out-of-state FDIC insured bank provided that its representative in Georgia will not get all the earnings. Loans produced by a Georgia industrial loan licensee are subject to the terms and limits for the Georgia Industrial Loan Act. You should contact the Industrial Loan Division of the Office of the Commissioner of Insurance at if you have questions about an industrial loan licensee:

By Web: http://www.oci.ga.gov/IndustrialLoan/Home.aspx
By mail: workplace of this Commissioner of Insurance, Industrial Loan Division, 2 M.L. King, Jr., Drive, 7th Floor, western Tower, Atlanta, GA 30334
By phone: 404-656-2078

At the time of the full time with this writing, there aren’t any lenders certified to produce pay day loans in Georgia online, however you should check out the website that is above up-to-date information.

If you think you are the target of the payday lender, you really need to speak to your regional county region lawyer or solicitor, while he or she’s got the authority to prosecute unlawful payday lenders, or you may contact the customer Interest Section regarding the Georgia Attorney General’s workplace by mail to report a loan provider. (mehr …)