Arkansas Payday Loans

The state of Arkansas has regulations on payday loans. As of 2008, Arkansas residents are no longer able to go to a physical storefront location to get payday loans. Payday lending in Arkansas has been banned. However, many people still turn to the Internet in order to take out payday loans.

In the state of Arkansas, borrowers who turn to the Internet for payday loans can borrow a maximum amount of $400. The minimum loan term is six days, and the maximum is a month or 31 days. Borrowers are limited to one loan per company at a time.

Loan Rollover

Internet payday loans in Arkansas are not able to be renewed or rolled over. They are also not able to be consolidated.

Collection Fees

Non-sufficient funds fees are able to be collected on payday loans in Arkansas. Companies are also permitted to collect reasonable attorney's fees as well as court costs.

Criminal Repercussions

Criminal action is not allowed to be taken unless a borrower's check is returned due to his or her account being closed.

Where to Contact With Questions or Concerns

Arkansas residents who have questions or concerns about Internet payday loans can contact the State Board of Collection Agencies. This board is located in the Arkansas capital city of Little Rock.

Checkalert-Verification & Recovery

5601 John F Kennedy Boulevard
North Little Rock, AR 72116

Planet Cash

4718 John F Kennedy Boulevard
North Little Rock, AR 72116