Payday Loans or “Quick Cash” loans come in real handy when you are short on cash. Today you can go to brick and mortar business for a payday loan or cash advance loan and you can even get online payday loans. The interest rates are a little healthy, but the speed and convenience of getting the cash quick to cover an unexpected expense overrides the costs.

These are the rules, laws and regulations of payday loans in Arkansas.

Arkansas Payday Loan Law and Legislation

The Legal Status of payday loans : Legal
: Applies to check cashers only

Citation:
Ark. Code. Ann. § 23-52-101 et seq.; Ark. Const. art. 19, § 13

Payday Loan Terms:

Maximum Payday Loan Amount: $400
Payday Loan Term: 6-31 days
Maximum Finance Rate and Fees: 10% of check and $10 and a ID card charge of $5
Finance Charge for 14-day $100 payday loan: $22.22
APR for 14-day $100 payday loan: 579%

Payday Loan Debt Limits:

Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None – You cannot renew or consolidate
Cooling-off Period:
Repayment Plan:

Payday Loan Collection Limits:

Collection Fees: NSF fee
Court Costs
Reasonable Attorney’s Fees

Criminal Action: Prohibited – Unless check was returned due to a closed bank account and stop-payment by the checking account maker

Arkansas Payday Loan Information:

Regulator: Arkansas State Board of Collection Agencies
Address: Division of Check-Cashing Companies, 523 Louisiana Street, Suite 460 Little Rock AR 72201
Phone: (501) 371-1434
Fax: (501) 371-1440

Payday Loans or “Quick Cash” loans come in real handy when you are short on cash. Today you can go to brick and mortar business for a payday loan or cash advance loan and you can even get online payday loans. The interest rates are a little healthy, but the speed and convenience of getting the cash quick to cover an unexpected expense overrides the costs.

These are the rules, laws and regulations of payday loans in Arizona.

Official Arizona Department of Financial Institutions

The Legal Status of payday loans: Legal

Citation:
Ariz. Rev. Stat. § 6-1251 et seq.

Payday Loan Terms:

Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 payday loan: $17.65
APR for 14-day $100 payday loan: 459%

Payday Loan Debt Limits:

Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three
Cooling-off Period:
Repayment Plan:

Payday Loan Collection Limits:

Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited

Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225

Payday Loan Licensing Information

Arizona Payday Loan License Application
Licensing
Arizona Department of Financial Institutions
2910 N. 44th Street, Suite 310
Phoenix, AZ 85018

Payday Loans or “Quick Cash” loans come in real handy when you are short on cash. Today you can go to brick and mortar business for a payday loan or cash advance loan and you can even get online payday loans. The interest rates are a little healthy, but the speed and convenience of getting the cash quick to cover an unexpected expense overrides the costs.

These are the rules, laws and regulations of payday loans in Alaska.

State of Alaska Payday Loan Information

The Legal Status payday loans: Legal

Citation:
Alaska Statute 06.50.100 et seq.

Payday Loan Terms:

Maximum Payday Loan Amount: $500
Payday Loan Term: 10-31 days
Maximum Finance Rate and Fees: 17.5%
Finance Charge for 14-day $100 loan: $17.50
The APR for 14-day $100 payday loan: 456.25%

Payday Loan Debt Limits:

Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Two
Cooling-off Period:
Repayment Plan: Yes

Payday Loan 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)

Alaska Payday Loan Information:

Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau AK 99811
Phone: (888) 925-2521
Fax: (907) 465-2549

Payday Loans or “Quick Cash” loans come in real handy when you are short on cash. Today you can go to brick and mortar business for a payday loan or cash advance loan and you can even get online payday loans. The interest rates are a little healthy, but the speed and convenience of getting the cash quick to cover an unexpected expense overrides the costs.

These are the rules, laws and regulations of payday loans in Alabama.

State of Alabama Payday Loan Laws and
State of Alabama Payday Loan Legislation

The Legal Status payday loans: Legal

Citation:
Ala. Code § 5-18A-1 et seq.

Payday Loan Terms:

Maximum Payday Loan Amount: $500
Payday Loan Term: 10-31 days
Maximum Finance Rate and Fees: 17.50%
Finance Charge for 14-day $100 payday loan: $17.50
The APR for 14-day $100 payday loan: 456.25%

Payday Loan Debt Limits:

Maximum Number of Outstanding Loans at One Time: None
Maximum Dollar amount of payday loan is $500
Rollovers Permitted: One
Cooling-off Period: Next business day after 2 continuous loans repaid
Repayment Plan: Yes

Payday Loan Collection Limits:

Collection Fees:
One $30 NSF fee for returned check
Local Court Costs
Reasonable Attorney’s Fees up to 15% of face amount of check
Criminal Action: Prohibited – Unless is check returned due to closed account

Alabama Payday Loan Information:

Regulator: Alabama Banking Department
Address: P.O. Box 4600 Montgomery AL 36103
Phone: (334) 242-3452
Fax: (334) 353-5961