{"id":1682,"date":"2017-10-05T11:55:10","date_gmt":"2017-10-05T18:55:10","guid":{"rendered":"https:\/\/financer.com\/?page_id=1682"},"modified":"2024-05-06T07:51:34","modified_gmt":"2024-05-06T14:51:34","slug":"colorado","status":"publish","type":"page","link":"https:\/\/financer.com\/loans\/colorado\/","title":{"rendered":"Colorado Loans"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"Colorado_Payday_Loan_Laws\">Colorado Payday Loan Laws<\/h2>\n\n\n\n<p>A 2010 Colorado state law put strict regulations in place regarding payday lending and outlawed renewing a loan more than once. <\/p>\n\n\n\n<p>For more information about why these regulations were put into place and how much you can borrow, read more below.<\/p>\n\n\n<div class=\"fn_block block_fn_items fields_containeris-hidden\"><div class=\"items-content__cards\"><div class=\"items-content__card \" data-header=\"1\"><div class=\"items-content__card-top\"><div class=\"items-content__card-left\"><a href=\"https:\/\/financer.com\/company\/5kfunds\/\" class=\"items-content__card-logo \" ><img decoding=\"async\" width=\"393\" height=\"128\" src=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2018\/08\/5kfunds-logo.png\" class=\"attachment-full size-full\" alt=\"5KFunds Logo\" srcset=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2018\/08\/5kfunds-logo.png 393w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2018\/08\/5kfunds-logo-300x98.png 300w\" sizes=\"(max-width: 393px) 100vw, 393px\" \/><\/a><span class=\"items-content__card-chosen\">Chosen <strong>80,240<\/strong> times<\/span><ul class=\"items-content__card-list\"><li >Check Rates without Credit Impact<\/li><li >No Minimum Credit Score<\/li><li >Large Network of Lenders<\/li><\/ul><\/div><div class=\"items-content__card-datapoint-container\"><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Min Loan Amount<\/span><span class=\"items-content__card-datapoint-value\">500<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Max Loan Amount<\/span><span class=\"items-content__card-datapoint-value\">35000<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Lowest APR<\/span><span class=\"items-content__card-datapoint-value\">5.99<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Highest APR<\/span><span class=\"items-content__card-datapoint-value\">35.99<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Min Loan Term<\/span><span class=\"items-content__card-datapoint-value\">6 Months<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Max Loan Term<\/span><span class=\"items-content__card-datapoint-value\">5 Years<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Accepts bad credit:<\/span><span class=\"items-content__card-datapoint-value\">Yes. <\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Minimum Age<\/span><span class=\"items-content__card-datapoint-value\">18<\/span><\/div><\/div><div class=\"items-content__card-right\"><a href=\"https:\/\/financer.com\/company\/5kfunds\/redirect\/\" data-url_param_unq=\"\"  data-url_param_pid=\"4647\" data-url_param_t=\"company_single\" class=\"button is-primary is-rounded is-arrow items-content__card-see-offer items-content__card-see-offer--\" target=\"_blank\" rel=\"sponsored nofollow\">See offer<\/a><a href=\"https:\/\/financer.com\/company\/5kfunds\/\"  class=\"button is-rounded items-content__card-more-info\">More Info<\/a><a href=\"https:\/\/financer.com\/company\/5kfunds\/#read-reviews\" class=\"simple-rating\"><div class=\"simple-rating__stars simple-rating__stars--right\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_outline_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><\/div><span class=\"simple-rating-value rating_light-green\" data-rating-value=\"4.2\">4.2<\/span><\/a><span class=\"items-content__card-reviews\">Read&nbsp;<a href=\"https:\/\/financer.com\/company\/5kfunds\/#read-reviews\">91<\/strong>&nbsp;reviews<\/a><\/div><\/div><\/div><\/div><\/div>\n\n\n<p>The Colorado payday loan law prohibits a lender from extending a repayment term to more than 6 months. This regulation drastically reduced the activities of payday lenders in Colorado since the law went into effect.<\/p>\n\n\n\n<p>However, Colorado cash advances and<a href=\"https:\/\/financer.com\/loans\/installment-loans\/\"> installment loans<\/a> are still legal in the state. These are often obtained from storefront lenders as well as <a href=\"https:\/\/financer.com\/loans\/\">online lenders<\/a>.<\/p>\n\n\n\n<p>Consumers wishing to apply for a personal loan in Colorado can find a reputable company online and read our reviews of different payday lenders here on financer.com. <\/p>\n\n\n\n<p>It is advisable to make sure any lender you choose operates in accordance with all the relevant Colorado state laws.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"The_Colorado_Payday_Lending_Rules\">The Colorado Payday Lending Rules<\/h2>\n\n\n\n<ul>\n<li>The maximum loan amount is <a href=\"https:\/\/financer.com\/loans\/500-loans\/\">$500<\/a><\/li>\n\n\n\n<li>The maximum finance charge on a $300 loan is 20%<\/li>\n\n\n\n<li>The maximum loan term is 6 months<\/li>\n<\/ul>\n\n\n\n\t\t<div id=\"genericloan_0_form\" class=\"fs-slider fs-slider--tooltip search-hero--bg1\"><h3>Compare loans from 79 lenders<\/h3><p>Find the cheapest rate with one click<\/p><div class=\"step amount\">    <div class=\"slider_cont step__value\">\n        <span class=\"fl_l_m_15 amount_display\"><\/span>\n    <\/div>\n    <div class=\"step__slider\">\n        <input type=\"range\" data-default-value=\"500\" data-name=\"param_amount\" \/>\n    <\/div>\n<\/div><div class=\"step stepSubmit\"><a id=\"submitSliders\" href=\"https:\/\/financer.com\/results?query=1&non_affiliate=true&param_amount=500&param_period=360&\" data-slider-url=\"https:\/\/financer.com\/results?query=1&non_affiliate=true&param_amount=500&param_period=360&\" data-required=\"results?query=1non_affiliate=true&param_amount=500&param_period=360&\" class=\"get_results compare button is-primary is-medium is-rounded\">Compare Offers<\/a><\/div>\t\t<\/div><h2 class=\"wp-block-heading\" id=\"The_Debt_Limits_in_Colorado\">The Debt Limits in Colorado<\/h2>\n\n\n\n<p>The State of Colorado put forth debt limits in order to control the amount of money a borrower can have a loan for at a particular time. <\/p>\n\n\n\n<p>A single individual can borrow <strong>a total of $500<\/strong> in any number of loans.<\/p>\n\n\n\n<p>Loan renewals <strong>attract a 45% interest rate.<\/strong> A person can have multiple loans as long as their total debt does not exceed $500. <\/p>\n\n\n\n<p>A monthly maintenance fee of<strong> $7.50 per $100<\/strong> loan is allowed. However, this loan maintenance fee should <strong>not exceed $30<\/strong> for the entire loan term.<\/p>\n\n\n\n<p>The law for personal loans in Colorado prohibits a lender from splitting a loan into two parts. In case a borrower fails to repay the loan by the due date, the law states that there should be repayment plan availability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"The_Debt_Collection_Restrictions\">The Debt Collection Restrictions<\/h2>\n\n\n\n<p>If not regulated, often lenders for loans in Colorado springs are tempted to resort to unlawful methods to collect their debts. <\/p>\n\n\n\n<p>That\u2019s why these <strong>additional collection restrictions<\/strong> have been put forth by the State of Colorado in an effort to restrict such actions:<\/p>\n\n\n\n<ul>\n<li>Lenders can only collect a non-sufficient funds (NSF) fee of a <strong>maximum of $25<\/strong> NSF.<\/li>\n\n\n\n<li>Unpaid loan amounts can be recovered through <strong>legal proceedings<\/strong> and a court trial.<\/li>\n\n\n\n<li>A collection agency is not prohibited from <strong>taking any legal action<\/strong> against a borrower.<\/li>\n\n\n\n<li>For early loan repayments, the lender <strong>must refund to the consumer <\/strong>a portion of the annual percentage rate.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Colorado Payday Loan Laws A 2010 Colorado state law put strict regulations in place regarding payday lending and outlawed renewing\u2026 <\/p>\n","protected":false},"author":37432,"featured_media":1684,"parent":184,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"disable_branded_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ep_exclude_from_search":false},"categories":[1076],"tags":[26],"_links":{"self":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1682"}],"collection":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/users\/37432"}],"replies":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/comments?post=1682"}],"version-history":[{"count":12,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1682\/revisions"}],"predecessor-version":[{"id":39702,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1682\/revisions\/39702"}],"up":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media\/1684"}],"wp:attachment":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media?parent=1682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/categories?post=1682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/tags?post=1682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}