Consumer resources

Know the rules

Kentucky's statute sets a $600 baseline for total proceeds across open deferred-deposit transactions, with annual adjustments and an $850 ceiling. Confirm the applicable limit with DFI. Two open transactions is the maximum; a statutory limit is not an amount KY Cash Advance promises to offer.

The service-fee ceiling is $15 per $100 of the check's face amount, prorated, for a service period of at least 14 days. A transaction cannot be held longer than 60 days. Fee-based renewal, rollover or consolidation is prohibited. The current statute provides a $3 database fee that may be passed to the customer.

Check your written agreement for the amount you receive, finance charge, APR, total repayment, due date and payment instructions. APR helps compare costs across products; a fee described as a service fee still has a borrowing cost.

Compare alternatives

Ask the biller whether a payment arrangement would cost less. Compare a bank or credit-union small-dollar loan, an employer advance or available community assistance. Check fees, eligibility, timing and total repayment for each option before choosing.

Repayment questions

Write down the due date and total payment alongside essential bills due before the next income arrives. Confirm the accepted payment method and any processing time with the lender named in your agreement.

If you may miss a payment, contact that lender promptly and ask about lawful options. A repayment plan is not guaranteed. Consider a credit counselor or legal aid if the debt is difficult to manage, rather than relying on another advance.