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Michigan Payday Loan

State Laws Applicable to the Payday Loan Industry:
The payday loan industry recently became legally recognized and accepted in Michigan, however, cash advance businesses are strictly regulated by The Michigan Office of Financial and Insurance Services. Borrowers are not allowed to hold more than two payday loans at once and can only be issued one loan per cash advance lender. Before a check advance loan can be issued to a consumer, the lenders must present a written loan agreement providing the name, phone number, and address of the payday loan company, a thorough explanation of interest rates and fees, the consumer’s payment responsibilities to the lenders, and an example demonstrating how the total loan amount is calculated based on a specific loan value.

Maximum Cash Advance Loan Amount Issued:
A consumer can receive a maximum of $600 in payday loan funds.

Length of Payday Loan Term:
Cash advance loans can be issued up to 31 days.

Cash Advance Loan Extensions:
Payday advance renewals and rollovers are not permitted in Michigan.

Payday Loan Fees and Additional Charges:
Cash advance companies can charge a 15% finance charge on the first $100 issued to a consumer. Borrowers in good standing with lenders in Michigan can benefit from a consecutively decreasing finance rate on payday loans issued thereafter.

Cash Advance Fee Schedules and Annual Percentage Rate (APR):
A loan with a $100 face value and a 14-day term will have an APR equal to 390%.

Cash Advance Directory


Company: Check N Go Of Missouri Inc
Street Address: 37521 Harper Ave
City: Clinton Township
State: MI
Zip: 48036
Phone: [586] 468-6663

Company: Crusaders Cash Advance
Street Address: 1709 Spring Arbor Rd
City: Jackson
State: MI
Zip: 49203
Phone: [517] 787-8057

Company: Check N Go Of Michigan Inc
Street Address: 4223 Highland Rd
City: Waterford
State: MI
Zip: 48328
Phone: [248] 706-0911

Company: Check And Cash U S A
Street Address: 1349 S Otsego Ave Ste 2
City: Gaylord
State: MI
Zip: 49735
Phone: [989] 705-8200

Company: International Check Cashing
Street Address: 8320 Highland Rd
City: White Lake
State: MI
Zip: 48386
Phone: [248] 886-8815


Click here for more Michigan cash advance companies.

Debt Management Directory


Company: Huntington National Bank
Street Address: 34600 Groesbeck Hwy
City: Clinton Township
State: MI
Zip: 48035
Phone: [586] 792-8501

Company: Atlantis Financial Group Inc
Street Address: 26200 Lahser Rd Ste 330
City: Southfield
State: MI
Zip: 48034
Phone: [248] 357-9100

Company: Home Loan Experts
Street Address: 361 E Maple Rd
City: Birmingham
State: MI
Zip: 48009
Phone: [248] 593-0618

Company: Farmer & Assoc
Street Address: 25570 W 12 Mile Rd
City: Southfield
State: MI
Zip: 48034
Phone: [248] 910-0360

Company: North Star Home Lending Llc
Street Address: 31780 Telegraph Rd
City: Franklin
State: MI
Zip: 48025
Phone: [248] 594-9300


Click here for more Michigan credit card debt management companies.
Want to add your business to our free cash advance and credit company directory? Click here to join our Michigan payday directory!

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