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Payday Loans, Arizona Laws

Arizona is noted for its scenic physical features including the Grand Canton, monuments, parks, national forests and Indian reservations. The state is ranked 6th in the United States with a total area of 113,998 sq mi. It has a density of about 55.8 sq mi.

The highest point in Arizona is Humphrey’s Park that measures 12,633 feet. On the other hand, its lowest point is Colorado River that measures 70 feet. Arizona is headed by Governor Jan Brewer, US Senators John McCain, and John Kyl. It has no Lieutenant Governor.

The state is located in the Southwest part s the US. Its capital and largest city is located in Tucson. It has a desert climate with exceptionally warm summers and cold winters. The higher parts of the State feature a variation of mountain ranges and pine forests with slightly cooler weather as compared to the lower parts of the region.

Due to its economic and social activities, the State was at one time considered one of the fastest growing states in America. It borders States such as Colorado, California, Nevada, Utah and New Mexico.

For anyone that is need of financial assistance during harsh financial times, AZ has many companies that offer payday loan services. A payday loan, also known as a cash advance or payday advance is usually offered by payday lending companies in order to assist a borrower who is undergoing short term financial difficulties.

The who is who in the AZ top lenders list are located in the city of Phoenix. These include such big names as Latinos Casa De Cambio. These are the largest lenders in Arizona with three different addresses, which are 8847 North 7th Avenue, 3041 West Van Buren Street and 2649 West Mcdowell Road.

Other top players in the market are Mailboxes and More of 1334 East Chandler Boulevard Suite 5 and Manara Food Store of 2649 West Mcdowell Road.

The laws governing cash advance activities are very elaborate in this state. All lenders have to be registered / licensed with the state.
The contracts binding the payday loan borrower and the lending firm must indicate the phone number and addresses that a customer use to raise or follow up on a complaint.

There are laws in Arizona which restrict borrowers from having more than one outstanding loan at any given time while lenders are prohibited from issuing multiple loans to a single lender.
The most one can get in form of cash advance is $500 with a minimum repayment period of 5 days. Borrowers in AZ can extend their loan / rollover to a maximum of 3 times.

To protect the borrowers the state has capped the maximum interest rate which can be charged on an initial loan / rollover at 15% of the amount loaned.

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