A “payday loan” is a loan of quick period, often fourteen days, with excessive interest levels. Pay day loans are usually illegal in Georgia, unless created by a Georgia certified industrial loan lender or an out-of-state FDIC insured bank so long as its representative in Georgia doesn’t get all the profits. Loans created by a Georgia industrial loan licensee are subject to the terms and restrictions of this Georgia Industrial Loan Act. For those who have questions regarding an industrial loan licensee, you ought to contact the Industrial Loan Division for the workplace associated with the Commissioner of Insurance at:
|By mail:||workplace for the Commissioner of Insurance, Industrial Loan Division, 2 M.L. King, Jr., Drive, 7th Floor, western Tower, Atlanta, GA 30334|
At the full time of the time of the writing, there aren’t any loan providers certified to produce pay day loans in Georgia on the internet, however you should look at the website that is above up-to-date information.
As he or she has the authority to prosecute illegal payday lenders, or you may contact the Consumer Interest Section of the Georgia Attorney General’s Office by mail to report a lender if you believe you are the victim of a payday lender, you should contact your local county district attorney or solicitor. Please be conscious that work doesn’t do something against illegal payday lenders on behalf of any one customer, but functions for the advantage of the State of Georgia in general. As a result, it cannot offer customers advice that is legal exactly what actions to take with illegal loan providers. The contact information is: