Florida
Illinois Attorney General Files Lawsuit
Due to deceptive collection practices and threatening with abusive language while attempting to collect debts for a payday loan company a Jacksonville, Florida collection agency has been sued.
Section
Payday Loans in Florida
Payday Loan Laws in Florida (2026)
Yes — payday loans are legal in Florida, run through a statewide database that limits you to one at a time. A single-payment loan is capped at $500 with a fee of 10% plus a small verification fee; rollovers are banned and a 24-hour cooling-off period applies. A 2018 law added an installment option up to $1,000. The Office of Financial Regulation oversees lenders.
| Status | Legal — licensed & regulated |
|---|---|
| Maximum loan | $500 single-payment; up to $1,000 installment (2018 option) |
| Maximum fee | 10% of the amount, plus a verification fee (currently $5) |
| Typical APR | Often ~300%+ (higher on smaller, shorter loans) |
| Loan term | 7–31 days single-payment; 60–90 days installment |
| Rollovers | Prohibited |
| Cooling-off | 24 hours after a loan is repaid |
| Statewide database | Yes — one loan at a time (Veritec) |
| Grace period | 60-day deferral if you ask before the due date and complete credit counseling |
| Regulator | Office of Financial Regulation (OFR) |
| Law | Fla. Stat. ch. 560, Part IV (Deferred Presentment) |
What a payday loan costs in Florida
Florida caps the fee at 10% of the amount plus a small verification fee (currently $5). On a $100 two-week loan that's about $15 — roughly a 390% APR — though the percentage falls on larger loans.
| Amount borrowed | Fee (10% + $5) | Total repaid |
|---|---|---|
| $100 | $15 | $115 |
| $300 | $35 | $335 |
| $500 | $55 | $555 |
Your rights as a borrower in Florida
- A statewide database enforces one loan at a time — you cannot stack payday loans from multiple lenders.
- Rollovers are banned, and a 24-hour cooling-off period applies before you can take a new loan.
- If you can't pay, you can request a 60-day grace period at no extra charge — but you must ask before the due date and complete credit counseling.
- Since 2018, Florida also allows an installment payday loan up to $1,000 over 60–90 days, repaid in parts.
Problem with a lender? File a complaint
Payday lenders in Florida are licensed by the Office of Financial Regulation. To report a violation or an illegal lender, use the online complaint form.
Alternatives to a payday loan
Before borrowing, compare a credit-union payday-alternative loan, an employer paycheck advance, or a payment plan with the biller. See our guide to payday loans and alternatives.
Your debt rights in Florida
A lender can garnish wages in Florida only after it sues and wins a court judgment, and federal law then caps how much can be taken. Florida operates a real-time payday-loan database, so state limits on how many loans you can hold at once are enforced across all lenders. Your rights when you cannot repay are set by a mix of federal and state law — these guides explain how they work:
- Can a payday lender sue you?
- Can payday loans garnish your wages?
- Do payday loans affect your credit?
- Payday loan statute of limitations
- How many payday loans can you have?
- How to get out of payday loan debt
Disclaimer: general information, not legal or financial advice. Laws change — verify the current rules with the Florida Office of Financial Regulation (OFR) before borrowing. Last reviewed 2026.
Sources
Frequently asked
Are payday loans legal in Florida?
Yes. They are legal and regulated under Florida's Deferred Presentment Act (Fla. Stat. ch. 560, Part IV), overseen by the Office of Financial Regulation.
How much can you borrow with a payday loan in Florida?
Up to $500 for a single-payment loan, or up to $1,000 under the 2018 installment option. A statewide database limits you to one loan at a time.
Can a Florida payday loan be rolled over?
No. Rollovers are prohibited, and a 24-hour cooling-off period applies before you can take out a new loan.
What if I can't repay a payday loan in Florida?
You can request a 60-day grace period at no additional charge, but you must ask before the due date and complete an approved credit-counseling session.
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