Georgia Payday Loan Laws

In the state of Georgia, payday loans are legal. However, there are laws in place to regulate these types of loans. Payday loan lenders must be licensed by the state in order to operate. In this article, you will lean about the laws regulating payday loans in Georgia.

What are payday loans?

Payday loans are short-term loans that are typically due on your next payday. They are easy to qualify for and can be a quick way to get the cash you need, but they come with high fees and interest rates.

Payday loan laws in Georgia say the maximum amount you can borrow is $500 and the loan term cannot exceed 14 days. The finance charge for a 14-day $100 loan is $15.50, which is an APR of 391%.

If you need a payday loan in Georgia, be sure to understand payday loan laws and regulations there before taking one out.

How do payday loans work in Georgia?

When you take out a payday loan in Georgia, you are essentially borrowing against your next paycheck. The loan is typically due on your next payday, and the amount you can borrow is based on the amount of money you are expecting to receive. In most cases, you will need to write a post-dated check for the full amount of the loan plus interest and fees, or give the lender permission to electronically withdraw money from your bank account on the due date.

If you cannot repay the loan when it is due, you can usually roll it over into a new loan, paying additional fees in the process. This can quickly become very expensive, as the fees add up and you end up paying back much more than you originally borrowed. It is important to understand the payday loan laws and the terms of your loan and only borrow what you know you can afford to pay back.

What are the payday loan laws in Georgia?

Georgia payday loan laws require that all payday loans be repaid in full when you receive your next paycheck. If you are unable to repay your loan in full, you may be able to roll over your loan into a new one. However, according to payday loan laws, you can only do this once per loan, and it will cost you an additional finance charge.

If you default on your payday loan, the lender may pursue civil action against you in court. In addition, the lender may report your default to a credit reporting agency, which could negatively impact your credit score.


As you can see, the state of Georgia has some pretty strict payday loan laws. If you’re thinking about taking out a payday loan in Georgia, make sure you understand all of the payday loan laws, rules and regulations first. Not only will this help you avoid any legal troubles, but it will also ensure that you get the best possible deal on your loan.