Regulator Details

Delaware Office of the State Bank Commissioner

555 East Loockerman Street 
Dover, DE 19901
Phone: (302) 739-4235

advertiser disclosure

Informed Decisions

We hope our site helps everyone make informed financial decisions.

To keep our service free our partners pay us. This may impact what products we review or how they they appear, e.g. the order in which companies appear, but partners cannot pay us to guarantee favorable reviews. See a list of partners

We do not feature all available financial service companies or products. Let us know if you'd like us to review a company at moc.dnuohyadyapeht@kcabdeef

[close]

Delaware Payday Loan Laws

Payday Hound's Top Delaware Lenders

Check Into Cash

The Payday Hound Rating
  • Direct lender online or at stores.
  • Founding member of CFSA. Live chat.
  • TN based. State Licensed. Since 1993.

eligible credit type ⓘ

Visit Check Into Cash to determine actual product eligibility. This is a general estimate and actual eligibility will vary. Credit Types are defined below.

Credit Type FICO® Score
All All Scores
Fair 620+
Good 680+
Great 720+
[close]
all
fair
good
great

Loan By Phone

The Payday Hound Rating
  • Online site powered by Check Into Cash
  • Member of CFSA, Live chat.
  • TN based. State Licensed. Since 2003.

eligible credit type ⓘ

Visit Loan By Phone to determine actual product eligibility. This is a general estimate and actual eligibility will vary. Credit Types are defined below.

Credit Type FICO® Score
All All Scores
Fair 620+
Good 680+
Great 720+
[close]
all
fair
good
great

Delaware Payday Loan Laws Details

The data provided here is for general informational purposes and should not be used as legal reference. If you have questions regarding Delaware payday loan laws contact the Delaware Office of the State Bank Commissioner.

Payday loans are permitted under the small loan act or licensing law in Delaware (see Delaware Payday Loans or Delaware Installment Loans to compare fees and requirements for individual lenders).

Feature Specification
Amount (max) $1,000 
Rates or Fees (max) Not Specified
Term Limitations Max: 60 days
General Loan Terms

In Delaware, four rollovers are permitted. Nothing is mentioned about cooling periods between loans. Delaware has no requirements for extended repayment plans.

For example, in Delaware the rates and fees on a 14 day, $100 loan are:

Terms Amount
Loan Amount $100
Fees No Limit
APR No Limit
Sample Loan Terms

Delaware also defines regulations around collections. If available, the table below lists the fees lenders are permitted to charge if the loan is not repaid and/or whether a lender can threaten use of or use criminal action if a borrower is unable to repay a loan.

Feature Specification
Collection Fees One fee for nonpayment if the contract so provides, not to exceed 5% of the payment amount
Regulations on Collections
Finally, a more detailed excerpt from Delaware's statutes on finance charges is listed below. In general the tables above summarize this.

A licensee may charge and collect interest in respect of a loan at such daily, weekly, monthly, annual or other periodic percentage rate or rates as the agreement governing the loan provides or as established in the manner provided in such agreement and may calculate such interest by way of simple interest or such other method as the agreement governing the loan provides. If the interest is precomputed it may be calculated on the assumption that all scheduled payments will be made when due. For purposes hereof, a year may but need not be a calendar year and may be such period of from 360 to 366 days, including or disregarding leap year, as the licensee may determine.

Citation: Del. Code Ann. Tit. 5 2227 et seq., 978, 2744.