Wyoming Cash Advance Consumer Resource
Welcome! This is the CashAdvance.com Wyoming guide to payday loans. Within just a few moments, you can learn about the regulations that govern payday loans in Wyoming, and find out about the various loan alternatives that can help save you money and get you back on your feet.
Wyoming residents can get a payday loan in person, online, or over the phone. Before you start, take a tour of our online guide, then get started with your Wyoming cash advance application! The fastest way to get started on your payday loan is to use our easy CashAdvance.com loan application. We can connect with you a trusted lender who can help you get the cash you need in as little as one day!
Don’t wait another moment to get the cash you need. Apply for your cash advance today! Have questions or comments? Write us at: wyoming@cashadvance.com.
For cash advance information in the city of Cheyenne, please visit the link listed below in the Information by City section.
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Cash Advance in Wyoming
The cash advance industry has expanded by leaps and bounds over the last decade. The recent global economic downturn has seen an even greater increase in the number of cash advance locations popping up around the country. The industry is often chided for preying on those with already poor finances, a position strengthened by the fact that many cash advance stores are located near poor neighborhoods and outside military installations. Despite the perception of the industry, cash advances are designed to provide individuals with quick access to cash to cover a financial emergency that arises. Each state in the U.S. has designed its own laws that the cash advance industry must follow in order to operate. A cash advance in Wyoming must follow the laws established in that state.
Cash advances and payday loans were designed as an alternative to small loans from banks and to help avoid the potentially embarrassing need to ask family and friends for financial help. Individuals write a check to a lender for the loan amount agreed upon between the two, including fees and charges. Businesses either provide borrowers with a check on the spot or set up an electronic fund transfer to the individual’s bank account. When the loan period is over the cash advance business cashes the check left with them by the borrower, completing the transaction.
Sometimes the borrower does not have enough money in their bank to cover the check they wrote, resulting in the need to ask for an extension (if allowed by the individual state). Extensions, roll overs, and renewals are often dangerous for borrowers because they result in stiff interest rates often reaching the triple digits and can sometimes leave individuals repaying five to six times the amount of the initial loan.
Cash advances in Wyoming are forced to follow the set of laws and rules established by that state if they wish to operate in the state. Lenders not only must be licensed by the state, but they also have to display that license for customers to see along with a schedule of fees in a language that is easily understood by all. Wyoming has one of the most unique laws for cash advances, allowing borrowers to cancel their loan and have their money refunded within 20 days of issuance. Lenders have the right to private action against delinquent borrowers but may not pursue criminal charges.
The following laws also apply to a cash advance in Wyoming:
• Maximum Loan Amount: Wyoming has not set maximum on loan amounts
• Loan Periods: Loan periods must one full calendar month
• Extensions: Wyoming law does not have any specifications on extensions
• Fees: Lenders may not charge fees in excess of $30 or 20% of the loan
Wyoming has some of the toughest laws governing cash advances. In particular, Wyoming is one of the few states to hold lenders responsible for informing customers of the pitfalls in easy to understand terms. Those considering a cash advance in Wyoming should be 100% sure that it is necessary as the APR on a two week $100 cash advance is 790%.
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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.