Among Florida borrower rights, the grace period stands out as one of the strongest consumer protections written into the Deferred Presentment Act — and one worth understanding before you ever need it.
Quick answer: Florida borrowers who can't repay a payday loan on time can request a 60-day no-charge grace period, but must schedule an appointment with an NFCC-affiliated credit counseling agency within 7 days and complete counseling within the grace period.
The process, step by step
- Before your due date, tell the lender in person that you can’t repay in full
- The lender must give you a list of approved credit counseling agencies affiliated with the National Foundation for Credit Counseling (NFCC)
- Schedule an appointment with one of these agencies within 7 days of your original due date
- Complete the counseling within the 60-day grace period that follows
- Follow any repayment plan the counselor recommends, without added fees or interest
Other protections built into the law
- Criminal-action threats over an unpaid loan are banned; it’s treated as a civil matter, not a crime
- Loan agreements can’t include clauses waiving your legal rights or pre-authorizing a judgment
- Fees can’t be collected in advance, and no additional security or guarantor can be required
Where to complain if these rules aren’t followed
File with the Florida Office of Financial Regulation, which investigates licensing violations and improper collection practices by state-licensed lenders.
Frequently asked questions
No, you must notify the lender in person before the due date and complete the required credit counseling steps.
No, Florida law requires it at no added charge once counseling requirements are met.
That’s grounds for a complaint with the Florida Office of Financial Regulation.
This article is educational and is not financial or legal advice. Before you borrow, confirm the lender is licensed with the Florida Office of Financial Regulation (OFR).