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Montana Cash Lenders
Montana Payday loan laws. Montana Payday loan Regulation.
Montana has specific payday advance laws. The permitted fee is 25% of the face amount of the Montana payday loan.
The permitted time period is a maximum of 31 days.
The maximum amount of the payday loan allowable is $300.00. Rollovers are prohibited.
Legal Status: Legal
Citation:
Mont. Code Ann. ยง 31-1-701
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 25%
Finance Charge for 14-day $100 loan: $25
APR for 14-day $100 loan: 650%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot renew, repay, or refinance)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney’s Fees if disclosed
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Montana Department of Administration
Address: Division of Banking and Financial Institutions, 301 South Park, Suite 316 P.O. Box 200546 Helena MT 59620
Phone: (406) 841-2920
Fax: (406) 841-2930
Regulatory Contact: Annie M. Goodwin,, Commissioner
Regulator Website
Licensee Database