WashingtonLawHelp.orgWashington LawHelp

Payday Loans

Authored By: Washington State Department of Financial Institutions
Read this in:
Spanish / Español

A payday loan is a small, unsecured, high interest, short-term cash loan. In most cases, consumers write a post-dated, personal check for the advance amount, plus a fee. The lender holds the check for the loan period and then deposits it, or the customer returns with cash to reclaim the check.

Last Review and Update: Jan 30, 2020