Illegal Payday Lending

What Does Payday Loan Mean?

Internet payday loans may offer quick cash for consumers, but in some states, such online payday loans are illegal. Pennsylvania installment lenders are ranked in the table above. Many consumers prefer tribal installment loans over payday loans because loan repayment is spread out over a longer period of time which often makes these loans cheaper than payday loans if you need multiple pay periods to repay your loan. See Payday Loans or Installment Loans for more information on comparing these two types of loans. Also you can visit tribal installment loans for more general information.

Individual states are primarily the ones in charge of regulating lending institutions. While lenders lobby ardently to enable cash advance lending practices, their equally impassioned detractors lobby to prohibit short-term loans under the guise of consumer protection.

The loans can be applied online. So if it is your car that you want to repair, it will still be possible to get the money you need. The loans can also be handy if the nearest loan office is far from home. In short, the application process, as well as approval and funding, is completed online.