Page last reviewed: 07 June 2018
- Loan calculator – compare 13 companies in Oregon;
- 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 Oregon;
Payday loans calculator
Important features of Oregon payday lending laws:
- The lender must give you a written loan agreement clearly explaining the fees, percentage rate, payment due dates, and what happens if you are late with your payments or you default.
- The legal limits on payday loans include: a one-time 10 percent loan origination fee (up to a maximum of $30 for a new loan) and interest rate (limited to 36 percent annually). The maximum APR (interest and fees) is 153.77 percent.
- No more than two renewals, or roll overs, are allowed on an existing loan. After two renewals, you must pay the loan amount and interest in full.
- The payday or title loan must be for at least 31 days and not longer than 60 days.
Summary of consumer rights could be found here.
Payday loan help
Consumers can file a complaint to Division of Financial Regulation (DFR).
For detailed review of payday lenders in each city, please click the link:
Payday loans review in Oregon