Payday loans in Colorado 2018: calculator, legal info, detailed review in each city

Page last reviewed: 29 Aug 2018

Contents:

  • Loan calculator – compare 11 companies in Colorado;
  • Legal information – consumer rights and obligations of lenders;
  • Payday loan help – what to do if you are in trouble;
  • Cities – detailed review of payday lenders in biggest cities in Colorado;

Payday loans calculator

 

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Legal information

Important features of Colorado payday lending laws:

  • A lender shall not lend an amount greater than $500 nor shall the amount financed exceed $500 at any time to a consumer.
  • A payday lender cannot make you a new loan while an existing loan is outstanding, even if the combined balance of the existing loan and the new loan does not exceed $500.
  • The minimum loan term is six months from the loan transaction date.
  • The cost of the loan is divided into three sections. The maximum charges for each section are: 1) 45 % annualized simple interest rate; 2) monthly maintenance fee of $7.50 per $100 borrowed, up to a maximum of $30 per month; 3) origination fee of 20% of the first $300 borrowed plus 7.50% of the amount exceeding $300, with a maximum origination fee of $75.

 

Summary of regulations could be found here.

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Payday loan help

If you need help visit the National Foundation for Credit Counseling (NFCC) or call Toll-Free 1-800-388-2227 for assistance with credit problems and creditors.

 

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Cities

For detailed review of payday lenders in each city, please click the link:

Alamosa

Arvada

Aurora

Boulder

Brighton

Broomfield

Canon City

Castle Rock

Centennial

Colorado Springs

Commerce City

Cortez

Denver

Durango

Englewood

Federal Heights

Fort Collins

Fountain

Grand Junction

Greeley

Greenwood Village

La Junta

Lakewood

Littleton

Longmont

Northglenn

Parker

Pueblo

Sterling

Thornton

Westminster

 

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Payday loans review in Colorado
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