The Short Term Loan
Idaho Code § 28-46-413 and Idaho Code § 28-46-414 — $1,000 at most, three renewals, and a payment plan once a year
$1,000 at most. A payday lender may not have more than $1,000 in principal outstanding to one borrower, plus allowed fees, and no single loan may exceed 25% of the borrower's gross monthly income when made.
A loan may be renewed no more than three consecutive times and is then repaid in full. A payday loan may not be paid off with another from the same lender, and no property or title may be taken as collateral beyond the borrower's check.
A payment plan, once a year. On request, once in any twelve months, the lender allows an extended payment plan, in writing and signed by the day the loan is due, with at least four equal payments over at least sixty days, and no added interest or fees.
A lender may not threaten a borrower with criminal action over a missed payment, and may not start collection while the borrower keeps to a payment plan.
Sources for this section (2)
- Idaho Code § 28-46-413 — Payday loan business practices
- Idaho Code § 28-46-414 — Extended payment plans
Legal information, not legal advice. Verified as of October 2026. Applying it to a particular situation is the work of a licensed Idaho attorney.