Payday Advance Hawaii
Residents of Hawaii who are 18 years of age or older can get rapid payday advance loan via an easy application process. Hawaii payday loans can be acquired either through in-state check cashing businesses, which are the only ones allowed to operate in Hawaii, or through payday advance companies operating over the internet.
Emergencies often pop up leaving you strapped for the necessary cash to handle them. This is especially true if the emergency situation falls before your next expected payday. Therefore, Hawaii payday cash advances offer residents a way to obtain fast cash to handle emergencies, avoid stress, and maintain a normal life. When you receive payment from your employer, you can then repay the loan completely without having to get mired in long-term loans that can significantly pressure your budget.
What Are Hawaii Payday Loans
Hawaii payday loans, or payday advances, provide quick cash to help meet financial emergencies or for other financial needs. Payday loans are normally acquired when people have pressing financial needs but don't have the available cash. Such cash advances are short-term loans that are repaid, usually, within one to four weeks or upon your next payday.
Hawaii payday advances can help you meet pressing financial needs when they occur between paydays. Such short-term cash advances are then easily repaid once you receive your paycheck. The term "payday loan" stems from such short-term cash loans being generally repaid on the date of your next payday.
The Process for Acquiring Hawaii Payday Loans
Getting a payday advance Hawaii loan is extremely fast and easy to obtain. It only takes minutes to fill out a short application and submit the required employment and personal ID information. Once your Hawaii payday loan application is submitted, it usually only takes hours, or until the next business day, to receive the money deposited into your bank account.
The loan agreement you sign as part of your application process has a date set for repayment of the loan amount plus any associated interest and fees which are set by the state of Hawaii. The loan period normally runs from one week to a full month and repayment is made either by paying in person or via electronic withdrawal from your bank account by the lending company.
Sometimes, you are required to supply a post-dated check so that if you do not show up to make repayment in person, the check can be cashed and the loan can be satisfied. Non-sufficient funds fees are applicable should you not have enough money to cover the loan in your account.
Legal Guidelines Pertaining to Hawaii Payday Loans
Both in-state and online lenders must adhere to guidelines pertaining to payday advances, which are set by the state of Hawaii. You can either visit a participating lender in Hawaii or conveniently apply and receive a Hawaii payday advance from an online lender from the comfort of your home or office.
The maximum loan amount in the state is $600 with a loan term of up to 32 days. The finance rate and associated loan fees can only equal up to 15 percent of the total loan amount. For example, the finance charge on a $100 loan for 14 days is $17.65 which equals 459% APR.
Also, Hawaiian residents can only have one outstanding loan at a time. No rollovers are permitted which means you cannot extend, consolidate, or refinance Hawaii payday loans. Non-sufficient funds fees are set at $20.
Where to Obtain Additional Information
You can acquire more information on Hawaii payday loans, as well as participating lenders within the state, by contacting the following department.
Hawaii Department of Commerce and Consumer Affairs
235 South Beretania Street, Room 801
Honolulu, HI 96813