Best Loans in Louisiana, Payday, Auto Title Laws of September 2024
According to the Louisiana Consumer Credit Law, installment loans cannot exceed $35,000.
Maximum finance charges are:
- 36% per year on the first $1,400.
- 27% per year on balances > $1,400 but ≤ $4,000.
- 24% per year on balances > $4,000 but ≤ $7,000.
- 21% per year on balances > $7,000.
Licensed lenders can also charge:
- A $50 loan origination fee.
- A $20 documentation fee.
- A $5 credit service charge for balances ≤ $75 or a $7.50 credit service charge for balances > $75.
- After the loan is more than 10 days past due, there will be a delinquency charge of 5% or $10, whichever is greater.
- A loan deferral charge of no more than $25.
Best Bad Credit Loans in Louisiana of September 2024
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For more information on bad credit loans, see our complete guide.
Best Personal Loans for Good Credit in Louisiana of September 2024
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