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Alabama Payday Loan

State Laws Applicable to the Payday Loan Industry:
Payday cash advance lenders are permitted under Alabama legislation to issue short-term loans backed by consumers’ checking accounts, however, payday loan companies and lenders must be licensed with the state. Lenders are prohibited from filling a criminal suit against a borrower due to unpaid loans. Borrowers must enter into a written agreement with cash advance lenders in order to be issued a payday loan. Payday loan companies are also required to post fees and rates in a location that is visible to all consumers. Additionally, borrowers are allowed to take out a maximum of two payday loans at a time.

Maximum Cash Advance Loan Amount Issued:
Consumers can borrow up to $500 in payday loan funds.

Length of Payday Loan Term:
Payday loan terms in Alabama generally extend from 10 to 31 days.

Cash Advance Loan Extensions:
One extension is permitted on cash advance loans under Alabama law.

Payday Loan Fees and Additional Charges:
The maximum amount a payday lender can charge is 17.5% of the loan amount. However, after default, a cash advance borrower can be charged a 3% monthly finance rate. Cash advance lenders are also allowed to charge a $25 fee due to non-sufficient funds in a borrower’s checking account.

Cash Advance Fee Schedules and Annual Percentage Rate (APR):
The APR on a $200 payday loan with a loan repayment period of 14 days is 455%.

Cash Advance Directory


Company: Cash Express
Street Address: 1624 7Th St N
City: Clanton
State: AL
Zip: 35045
Phone: [205] 755-7223

Company: Bayou Check Exchange
Street Address: 13158 N Wintzell Ave
City: Bayou La Batre
State: AL
Zip: 36509
Phone: [251] 824-3823

Company: Cash Services Inc
Street Address: 615 19Th St N
City: Bessemer
State: AL
Zip: 35020
Phone: [205] 425-9292

Company: Economy Check Advance
Street Address: 825 W Meighan Blvd
City: Gadsden
State: AL
Zip: 35901
Phone: [256] 543-7645

Company: C&M Check Cash Advance
Street Address: 29843 Al Highway 71
City: Bryant
State: AL
Zip: 35958
Phone: [256] 597-2900


Click here for more Alabama cash advance companies.

Debt Management Directory


Company: Regions Bank
Street Address: 124 Market Center Dr
City: Alabaster
State: AL
Zip: 35007
Phone: [205] 290-5261

Company: Check Into Cash Inc
Street Address: 682 Clanton Market Pl
City: Clanton
State: AL
Zip: 35045
Phone: [205] 280-4920

Company: Levert Levert & Associates
Street Address: 5120 Valley Rd
City: Fairfield
State: AL
Zip: 35064
Phone: [205] 780-1512

Company: Car Title Loans Of America
Street Address: 1913 26Th Ave N
City: Bessemer
State: AL
Zip: 35023
Phone: [205] 497-1327

Company: 1St Franklin Financial Corp
Street Address: 11 Village Sq
City: Clanton
State: AL
Zip: 35045
Phone: [205] 755-8010


Click here for more Alabama credit card debt management companies.
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