Missouri Payday Loans


Missouri advance loans are governed by laws specially created to maintain fairness among borrowers and lenders. If you’re considering getting a payday loan in the state, it’s best to be aware of these laws and avoid problems in the future. This is why we provide you with a comprehensive getaway to payday loans in the state. With this, you can familiarize yourself with the regulations and ensure that you make the most out of a loan. We always welcome questions and feedback on the contents of the site. For payday loan laws in other states, please browse the state you need.

 Payday Loan Process in Missouri

Applying for payday loans in the state of Missouri is easy enough. Requirements are simple and can be sent through fax or email, depending on the lender. Following are the conditions for applying:

  • Borrower must be 18 years old or older
  • Borrowers must be a resident of Missouri
  • Must be employed
  • Must meet minimum salary requirements
  • Must have a savings or checking account

Different lenders offer different terms and conditions to suit all types of borrowers. Some lenders also provide payday loans for people on welfare or seniors who draw from their retirement income. People with bad credit history need not worry as most lenders do not check credit background.

Missouri Payday Loan Laws and Regulations

Following are the laws and regulations governing Missouri payday loans today:

  1. Maximum Loan Amount: $500
  2. Loan Term: 14 to 31 days
  3. Finance Charge for $100 Loan in 14 Days: $75
  4. APR for $100 Loan in 14 Days: 1950%
  5. Maximum Number of Loan: Maximum of $500 at any lender at a time
  6. Rollover: Allowed up to 6 times. The principal amount must be lowered by 5% every time.
  7. Collection Fees: NSF Fee and Court Costs

Maximum finance rate and fees are dependent on the rates agreed on by the parties. However, the law requires that borrowers must not pay more than 75% of the initial amount in interest and fees. This rule applies to the entre loan term as well as all the pursued renewals.

Cooling off period laws in between loan is unspecified. Repayment plan may also be up to the lender’s discretion due to the lack of specificity in the laws.

Missouri Consumer Protection

Problems, complaints, questions and feedbacks regarding Missouri payday loans are all handled by the Missouri Division of Finance. They can be contacted through several means:

  • Address: Consumer Credit Section, P.O. Box 716 301 W. High Street Jefferson City MO 65102
  • Phone: (573) 751-3242
  • Fax: (573) 751-9192
  • Look For: Joe Crider, Supervisor for Consumer Credit

Consumers are advised to familiarize themselves with various payday loans laws for protection purposes.

Missouri Payday Loan Alternatives

For payday loan alternatives, the best option is usually borrowing from friends or family since they are unlikely to enforce rates. Seeking a cash advance directly from your employer is also a good choice. If you have some valuables, you can sell them outright or simply pawn them off. Bank loans are best for larger cash flow problems with better interest rates. Credit cards can also be used for small purchases until the next salary comes.

Payday Loans cities in Missouri:
Arnold Ballwin Belton
Blue Eye Blue Springs Boonville
Branson Branson West Bridgeton
Buffalo California Camdenton
Cape Girardeau Carthage Cassville
Charleston Chesterfield Chillicothe
Clayton Clinton Cole Camp
Columbia Cpe Girardeau Creve Coeur
Crystal City De Soto Desloge
Dexter Ellisville Eureka
Excelsior Springs Farmington Fenton
Festus Florissant Forsyth
Fredericktown Fulton Gerald
Gladstone Grandview Hannibal
Hazelwood High Ridge Imperial
Independence Ironton Jackson
Jefferson City Jennings Joplin
Kansas City Kearney Kennett
Kimberling City Kirksville Lebanon
Lees Summit Leeton Liberty
Manchester Marshall Marshfield
Maryland Heights Memphis Mexico
Moberly Monett Neosho
Nevada Nixa North Kansas City
O Fallon Oregon Osage Beach
Overland Ozark Palmyra
Park Hills Perryville Pevely
Poplar Bluff Raymore Raytown
Richmond Heights Rolla Saint Charles
Saint Joseph Saint Louis Saint Peters
Saint Robert Schell City Sedalia
Shell Knob Sparta Springfield
Thayer Troy Union
Vandalia Warsaw Washington
Webb City Webster Groves West Plains

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