A "payday loan" is a loan of short duration, usually two weeks, with fees of 15% to 30% of the amount advanced. Payday loans are generally illegal in Georgia , unless made by a Georgia licensed industrial loan lender. Loans made by a Georgia industrial loan licensee are subject to the terms and limitations of the Georgia Industrial Loan Act. Currently, there are no lenders licensed to make payday loans in Georgia over the internet. If you have questions about an industrial loan licensee, you may visit the Industrial Loan Commissioner’s website at http://www.oci.ga.gov/IndustrialLoan/Home.aspx or contact the Industrial Loan Commissioner at:
2 Martin Luther King, Jr. Drive
West Tower 7th Floor
Atlanta, Georgia 30334
If you believe you are the victim of a payday lender, you may contact your local county district attorney or solicitor, as he or she has the authority to prosecute illegal payday lenders, or you may contact this office to report a lender and request any available information regarding the lender. Please be aware that this office does not take action against unlawful payday lenders on behalf of any one consumer, but acts for the benefit of the State of Georgia as a whole. As such, this office cannot provide consumers legal advice regarding what actions to take with unlawful lenders.