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hawaii state
debt consolidation company
payday lenders
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payday loans
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payday loan
face value
time limit
Payday Loan Laws For Hawaii State, Are You Informed In Your Choices?
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Payday Loan Laws For Hawaii State, Are You Informed In Your Choices?

You have one choice in payday loan laws for Hawaii state, and that is do not use them! These loans are so dangerous and it is so easy to get trapped into a cycle of debt that is really hard to break.

Hawaii has a time limit of 32 days maximum for its payday loan, and they have an insane interest rate of 15% of the check face value along with all the fee charges and such, which can lead to a very high APR rate.

There is no limit on roll overs but they do limit the maximum loan amount at $600.00. So, you could roll over a 600.00 7 day loan at least 3 times before you pay off the balance in full, which is really under the average of 4 to 5 times per customer.

Say thanks to the Hawaii legislature, they went out of their way to create special laws for payday lenders. I wonder who they had in mind when they made these laws up?

Hawaii is another state ripe with potential for having people get caught in the payday loan trap. And many will run out to a loan debt consolidation company to find help once they get caught in it and the calls start coming and the threats, and up and up goes the balance.

This is probably your best option actually, if you find the right debt consolidation company. They do exist, and they care about your needs, but there are sharks out there in this line of work also. They hold your money up to three months and really bring you no relief immediately, and charge you out the eye for their services.

Look for one that will consolidate all your payments into one bi weekly or monthly payment and stop the calls and interest rates. Make sure they start paying your loans within 2 weeks, and they work with you one on one.

After you get the loans paid in full do not ever take out one of these payday loans again, unless you can pay it off in full on the first due date, but better yet, just steer clear of them completely!

I hope this article on payday loan laws in Hawaii helps you make good choices in your financial situation, and if you need help use the option of a consolidation company, but make sure it is a good one.

Please feel free to share this article and leave any questions and comments below!


Street Talk

Thanks for the good info, Shawn

Reply
  about 7 years ago

You bet Sharon, just trying to help keep people informed!

Reply
  about 7 years ago

another nice article from Shawn Lee

Reply
  about 7 years ago

Thanks for reading!

Reply
  about 7 years ago

Hey,its a nice sharing,great job

Reply
  about 7 years ago

Thanks!

Reply
  about 7 years ago

Interesting to learn about payday loan laws in Hawaii here. Good job.

Reply
  about 7 years ago

Thanks Cynthia!

Reply
  about 7 years ago
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