Utah Cash Advance Consumer Resource
Welcome to the CashAdvance.com guide to state legislation regulating payday loans in Utah. Before you get started on your loan application, make sure you know the ins and outs of the payday loan process in Utah. CashAdvance.com has organized a manual to understanding Utah payday loans, including a simple breakdown of current laws and additional information on loan alternatives.
Most people report having a very easy experience with the payday loan process. Those who do encounter difficulty often say it could have been avoided if they had only been familiar with the laws governing payday loans or had access to available resources that could have assisted them. You will find everything you need to successfully obtain a Utah payday loan right here. When you’re ready, CashAdvance.com can get you on the road to your payday loan with our fast loan applications and instant loan approval.
Have articles or comments you would like to share on our Utah CashAdvance.com page? Send your thoughts to: utah@cashadvance.com.
For information regarding cash advances within the various cities of Utah, please visit the links listed below in the Information by City section.
Information by City
More Information about Utah
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Cash Advance in Utah
Utah does not have that many laws that regulate the cash advance procedure within the state. Below are a few interesting bits of information about the laws that do exist in Utah regarding quick cash loans.
Pertinent Information and Laws Regarding a Cash Advance in Utah
· Twelve weeks is the maximum length of time that a loan can be taken out in Utah, and the loan can be in any amount.
· Lenders do not have any caps on the amount of interest they can charge on a loan. This allows lenders to have free rein in charging borrowers whatever fee they desire for interest.
· Lenders are required to have a valid business license and to renew it every year. And a lending business cannot be conducted on premises that are mobile.
· Utah has over 400 cash advance agencies within the state.
· Any individual who pays for valid registration and supplies certain required information is able to open up a business that will lend cash to other individuals.
· A lender must state whether he or she has ever been convicted of a crime.
· Lenders must provide a written agreement with a copy to the borrower. All pertinent information, including fees, the due date and terms of the loan, must be clearly stated on the agreement.
· A rollover of a cash advance in Utah is not specified, though borrower must wait 12 weeks from date of loan to get one.
· Any business that deals in cash advances must post a listing of interest rates, payment schedule and fees, all in U.S. dollars, somewhere on the business premises. Lenders must also provide a customer service number that borrowers can call if they have any questions or problems.
Unemployment Facts
In 2006, Utah had an unemployment rate of 4.1%, which indicated that over 52,000 people were out of work. In 2005, the unemployment rate was slightly higher at 4.7%. During the last ten years, Utah’s rate of unemployment has never gone over 6.1%.
Online Services
A cash advance in Utah can be obtained in several ways, either through a cash advance lending agency in your local area or through a service that is offered online. There is more convenience in using an online agency as you are able to fill out a simple application and acquire your money very quickly. With safe and secure sites, confidential information can be given without any concerns about who else may see it. You can have instant approval of your loan, even with bad or no credit.
To apply for a cash advance in Utah, online services do require that you be 18 or older, have an active checking account, live within the United States and have a steady rate of income. You also need to have an operating phone number in case there is a reason to contact you concerning your transaction.
You can obtain very good service through an online agency, and if you make timely payments on your loan, you will be able to establish rapport with your lender. This can be beneficial if the need should arise in the future for you to obtain another cash advance. And if there should be any reason that you cannot make your payments, it would be in your best interest to contact your lender as soon as possible so that different loan payment arrangements can be made, such as an extension or even a rollover.
Remember to check with online agencies the next time a financial emergency requires you to obtain a cash advance in Utah. You may be pleasantly surprised at the ease with which you will be able to obtain a loan.
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Consumer Notice: A cash advance, also referred to as a payday loan or payday advance, is a small, short-term loan that is intended to cover a borrower's expenses until the following payday. Cash advances are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory help. Consumers are encouraged to consult our State Consumer Resource pages to learn more about the risks involved with cash advances, local laws and regulations that may be applicable to cash advances, possible loan alternatives and recent developments in their state.
Legal Disclaimer: This website does not constitute an offer or solicitation to lend. CashAdvance.com is not a lender, does not broker loans, and does not make loan or credit decisions. The operator of this Web Site is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. CashAdvance.com provides a service only and is not acting as a representative, agent, or correspondent for any service provider or lender. CashAdvance.com's aim is to inform users of possible lenders who may be able to satisfy the needs of a particular consumer. CashAdvance.com does not endorse any particular service provider, lender, nor loan product. You are under no obligation to use CashAdvance.com's service to initiate contact, nor apply for credit or any loan product with any service provider or lender. Service providers or lenders will typically not perform credit checks with the three major credit reporting bureaus: Experian, Equifax, or Trans Union. However, credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, which typically will not affect your credit score, may be obtained by some service providers or lenders, in certain circumstances. You will not be charged any fees to use CashAdvance.com's service. Learn more on our Rates & Fees section.
Availability: Residents of some states may not be eligible for a short term cash loan based upon lender requirements. CashAdvance.com does not guarantee that completing an inquiry form will result in you being matched with a service provider or lender, being offered a loan product with satisfactory rates or terms, nor receiving a loan from a service provider or lender.