Asked by: Kenda Reddehasepersonal finance credit cards
How long can a payday loan be collected in California?
Last Updated: 5th March, 2020
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Keeping this in view, what's the statute of limitations on a payday loan in California?
The statute of limitations in Californiais four years from breach or from the last payment, whichever islater.
Additionally, can Payday Loans sue you in California? The law allows California payday loan companiesto sue to recoup owed funds. Under California law,the most one can borrow with a California cashadvance is $300. While the highest a California payday loanlender can charge as interest is 15% of the principal, or anamount not exceeding $45.
Also, how long can a debt be collected in California?
How long do payday loan companies keep records?