Payday loans in Wyoming

Are payday loans legal in Wyoming?

Payday loans are legal in Wyoming. A licensed lender may lend up to Not specified and charge no more than The greater of $30 or 20% per month.

The governing law is Wy. Stat. 40-14-362 et seq… Wyoming Division of Banking licenses lenders and takes complaints. Check a lender’s license there before you share bank details; how to tell if a lender is legitimate lists the other checks.

Loan limits in Wyoming

• Loan size: Not specified
• Loan term: No more than 1 month

What a payday loan costs in Wyoming

State law sets the price rule: The greater of $30 or 20% per month.

Federal law requires the lender to state the finance charge in dollars and the APR in your agreement. Read both before you sign, and set them beside the example further down this page.

A loan that meets the Northlight standard

Northlight works only with loans that carry an APR of 35.99% or less, fees included, and give you at least 3 months to repay. A single-payment payday loan under Wyoming law does not meet that standard, whatever its fee, because it falls due in one payment within weeks.

For example, $1,000 repaid over 12 months at 35.99% APR is 12 payments of $100.46, or $1,205.52 in total. The calculator prices other amounts and terms.

If you cannot repay a loan in Wyoming

Contact the lender before the due date and ask for a payment plan in writing. If a lender or collector breaks the rules, file a complaint with Wyoming Division of Banking and with the CFPB. Our guide to what happens if you don’t pay covers each step.

Lower-cost options in Wyoming

• Credit union payday alternative loans (PALs): $200 to $2,000 at no more than 28% APR.
• A payment plan with the landlord, utility or hospital you owe often costs nothing.
• Local assistance: dial 211 for rent, utility and food programs near you.

See all payday loan alternatives.