Oregon State Information

Legal Status: Legal (Lower Cost)

54 Or. Rev. Stat. § 725A.010 et seq.

Loan Terms:
Maximum Loan Amount: $50,000 (Loan limit up to 25%of borrower’s net monthly income if earns $60,000 per year or less.)
Loan Term: 31 to 60 days
Maximum Finance Rate and Fees: 36% APR interest, one-time $10 per $100 of loan origination fee, up to $30
Finance Charge for 14-day $100 loan: $13 for 31 day loan
APR for 14-day $100 loan: 154% APR for 31 day loan

Debt Limits:
Maximum Number of Outstanding Loans at One Time: No Limit
Rollovers Permitted: Two (renewals)
Cooling-off Period: 7 days after prior loan expires
Repayment Plan:

Collection Limits:
Collection Fees: One $20 NSF fee + additional bank charges 
Criminal Action: None, only civil penalties

Where to Complain, Get Information:
Regulator: Oregon Department of Consumer & Business Services
Address: Division of Financial Regulation, 350 Winter St. NE, Rm. 410 Salem OR 97309
Phone: 866-814-9710 (toll-free)
Fax: 503-947-7862
Regulator Website

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