Payday loans have recently been legalized in Florida. The maximum you can borrow is $500 with a loan term from 7-31 days. The finance charge for a $100 payday loan for 14 days is $15. In Florida you can only have one loan out at a time, and are not allowed any extensions.

Florida Cash Advance Loans. Cash advances from are meant to help keep you financially afloat between paychecks. That means that cash advance loans are meant for short-term and urgent needs such as car repair, an unexpected school expense, emergency cash, gifts for that surprise wedding or a medical emergency. As a short-term loan, a cash advance is meant to be repaid quickly, within a couple of weeks. Payday loans are one type of predatory lending practice that can wreak havoc for borrowers. Payday loans are enticing to many because they seem to offer an easy solution to common financial problems. As noted above, Miami residents spend, on average, nearly $4,000 on their healthcare every year. Florida is one of 19 states that have not expanded Medicaid, which has left nearly a million people in the state without insurance. As of 2016, 13% of Florida’s population was uninsured, and Miami-Dade County is home to the largest uninsured population (18%) within the state of Florida.

As of 2016, about 17% of adults in Miami-Dade County have past due medical debt that has gone to collections, which total, on average, $678. Total Medical Debt: Miami-Dade County vs. Florida.