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Alaska Cash Lenders
Alaska Payday State Information
Alaska Payday loan laws. Alaska Payday loan legislation. Alaska has specific payday advance laws. The permitted fee is $15 per $100 advanced plus a maximum $5.00 non-refundable origination fee. The permitted time period is a minimum of 14 days.
The maximum amount of the payday loan allowable is $500.00. No more than two rollovers are allowed.
For a thorough discussion of the payday loan industry and access to our payday loan training materials, we recommend you proceed to Payday Loan Rate Watch
Legal Status: Legal
Citation:
Alaska Statute 06.50.100 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 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:
Repayment Plan: Yes
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)
Where to Complain, Get Information:
Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau AK 99811
Phone: (888) 925-2521
Fax: (907) 465-2549
Regulatory Contact: Patrice Walsh,, Financial Institution Examiner
Regulator Website