The Kansas state payday loan laws are more geared for protecting our service men and women than the general public.

This is great for those who serve but they are not very user friendly for the general public.

lets take a look at some general stats, then touch back on the service laws.

You may take out a payday loan in Kansas from 7 to 30 days, and the loan limit is $500.00 per loan.

By per loan I mean this state allows you to take out more than one payday loan at a time, but you can not exceed 2 loans with any one lender or more than 3 loans with that lender in a 30 day period.

Now, that means you can take out as many payday loans you feel you need if you use more than one lender, and this is financial suicide. This sets up a payday loan trap that could cost you dearly in charges.

Next lets look at the interest rates. Kansas allows payday loan companies to charge 15% of the total loan plus an administrative fee.

This can add up to huge amounts if you have to roll over  one or more loans. Another invitation to major payday loan hell.

As far as the service men and women, the following applies.

  • Lenders are prohibited from garnishing the wages of military borrowers;
  • Lenders must defer all collection activity against a borrower who is deployed to combat or a combat support post for the duration of such posting; and
  • Lenders may not contact any person in the military chain of command of a borrower in an attempt to make collection.

I hope the Kansas state laws on payday loans help you make good decisions on using these services.

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