Alabama Payday Loan Laws and Regulations in (AL)

(last updated 01/02/2018)
Payday loans and cash advances are legal in Alabama. The Alabama Banking Department has been regulating Payday Loans and Cash Advances since 08/2003. As of 01/07/2015 there were 176 licensed lenders and 999 licensed locations in Alabama.
 
The maximum payday loan allowed in Alabama is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is not specified. The maximum permissible fees allowed in Alabama is $17.50 or 17.5% on a 14 day $100 loan which is an APR of 456.25%. The cooling off or waiting period for obtaining another loan is 1 Business days. The number of rollovers that are permitted is 1. The minimum loan term is 10 Days. The maximum loan term is 31 Days.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Alabama, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Alabama Banking Department.
 
The following classes of lending organizations may be exempt from some, all or none of the regulations and laws set by the state of Alabama. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

Alabama Payday Lending Regulator (AL)

Regulating Authority
Alabama Banking Department
P.O. Box 4600
Montgomery, AL 36103
(334)242-3452
www.banking.alabama.gov

Agency for Handling Complaints
Write to : State of Alabama Banking Department
Attn: Arlene Baldwin
P.O. Box 4600
Montgomery , AL 36103-4600
(334)242-3452
www.banking.alabama.gov/complaint.aspx

 


Related Alabama Loan Programs

Personal Loans for Bad Credit in AL
$500 to $5,000 - Credit Score Less Than 650
 
Personal Loans in AL
$1,000 to $35,000 - Credit Score 650+
 
Small Business Loans in AL
$2,000 - $500,000 - All Credit Welcome


Positive Thumbs Up Best Payday Loan Tips


Tips for finding the Best Payday Loans.

Payday Loan Application


Apply for a Payday Loan in AL
Flag of the State of Alabama Whether an alligator eats your briefcase in Mobile, or you get bitten by a tick which lands you in the doctor’s office in Anniston, Alabama expenses come in all shapes and sizes. When your debt is weighing you down more than the Heaviest Corner on Earth, a payday loan may just be the answer.

Even wildlife can cause money problems, like when an ornery skunk chews a hole in your house or a black bear decides the hoecake you left in your car should be his. Then, of course, there’s just plain old bad luck, like breaking a tooth on barbeque ribs, or busting a toe on the catwalk as you take friends on a Sloss Fright Furnace tour. Or, your car could decide to break down in the dreaded Malfunction Junction. You’ll need a tow and maybe even a rental car. Whatever the reason, it’s all costly to deal with.

Maybe you’re luckier than many and just need a little bit of cash to carry you until next week so you can cheer on the Tide or join the gang at Milo’s for burgers after work. When your finances spin out of control faster than a car on the steep banking at Talladega, where can you turn for a cash advance to get you going back in the right direction?

When Murphy shows up and camps out on your couch, making whatever can go wrong go horribly wrong, a payday loan can be just what you need to show him the door. But where can you find the right loan to meet your needs? It seems like there are payday lenders on every corner. How do you choose one?

We Give Loans offers unique access to 3,558 cash advance sources. Our service allows you to complete a short, simple form and be paired with loan sources from our network, based on your needs. Since 2006, we’ve helped over two million people find the right loans from the right sources.

When your vehicle is in for expensive repairs, your paycheck was short, your utility bill was way higher than normal, or some other financial emergency is making your life miserable, our no cost, no obligation consumer-to-lender pairing process can help ease your pain. Even if you have bad credit or no credit, you may qualify for $100 to $1,000. Most lenders approve and fund payday loans online in 1 to 24 business hours, giving you fast access to the cash you need. Give Murphy the boot! Complete our form today and get back to sipping your sweet tea on the front porch in no time!


 

Alabama Payday Loans (AL) by City

Alabama Debt Relief, Financial Counseling, and Consumer Credit Information


If you would like to look into the possible benefits of these services, National Debt Relief - Whom Offers a Free Debt Relief Quote is a leading provider of financial counseling services in Alabama.