Payday Loans Alaska
Alaska State – Payday Loans Information
Payday loans Alaska are made by payday loan stores, check cashers, and pawn shops. Some rent-to-own companies also make payday loans. Loans are also marketed via toll-free telephone numbers and over the Internet. All a consumer needs to get a payday loan is an open bank account in relatively good standing, a steady source of income, and identification. Lenders do not conduct a full credit check or ask questions to determine if a borrower can afford to repay the loan.
Legal Status: Legal
Maximum Loan Amount: $500
Loan Term: 14 days
Maximum Finance Rate and Fees: $5 + the lesser of $15 per $100 or 15%
Finance Charge for 14-day $100 loan: $20
APR for 14-day $100 loan: 520%
Maximum Number of Outstanding Loans at One Time: Not Specified
Cooling-off Period: N/A
Repayment Plan: Yes (Up to 6 months; no extra fees; must pay 5% of balance due when plan signed.)
Collection Fees: $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement)
Criminal Action: Prohibited (Unless check returned due to closed account)
Call for Cash: +1 (855) 462-5019
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