Legal Status



Nev. Rev. Stat. 604A.010 et seq.

Loan Terms

Maximum Loan Amount: 25% of expected gross monthly income

Loan Term: 35 days

Finance Charge for 14-day $100 Loan: N/A

APR for 14-day $100 Loan: N/A

Debt Limits

Maximum Number of Outstanding Loans at One Time: One per lender. Nev. Rev. Stat. Ann. § 604A.5018

Rollovers Permitted: Yes, as long as you don't exceed the initial payoff term by 60 days, unless you meet the following exceptions, then it can be longer: (a) Makes the new deferred deposit loan or high-interest loan to a customer pursuant to a loan agreement which, under its original terms: (1) Charges an annual percentage rate of less than 200 percent; (2) Requires the customer to make a payment on the loan at least once every 30 days; (3) Requires the loan to be paid in full in not less than 150 days; and (4) Provides that interest does not accrue on the loan at the annual percentage rate set forth in the loan agreement after the date of maturity of the loan; (b) Performs a credit check of the customer with a major consumer reporting agency before making the loan; (c) Reports information relating to the loan experience of the customer to a major consumer reporting agency; (d) Gives the customer the right to rescind the new deferred deposit loan or high-interest loan within 5 days after the loan is made without charging the customer any fee for rescinding the loan; (e) Participates in good faith with a counseling agency that is: (1) Accredited by the Council on Accreditation of Services for Families and Children, Inc., or its successor organization; and (2) A member of the National Foundation for Credit Counseling, or its successor organization; and (f) Does not commence any civil action or process of alternative dispute resolution on a defaulted loan or any extension or repayment plan thereof. Nev. Rev. Stat. Ann. § 604A.5029

Cooling-off Period: Silent

Repayment Plan: Must be offered before civil action commences. Nev. Rev. Stat. Ann. § 604A.5027