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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

Loan Terms:

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%

Debt Limits:

Maximum Number of Outstanding Loans at One Time: Not Specified

Rollovers Permitted: Two (renewals)

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 Limits:

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

State Regulator

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