Alaska Payday Loans

In the state of Alaska, it is possible to get a payday loan if you are short on cash. Alaska does have some specific rules and regulations as to how these loans may be taken out. Alaska residents may only take out a maximum of $500 in payday loans at any given time. This prevents borrowers from getting too deep into debt. Payday loan lenders in Alaska are able to charge no more than a $15 fee per $100 that is borrowed, plus a loan origination fee of $5 that is non-refundable. Sometimes a payday loan is permitted to have "rollover" - this is where the borrower is able to pay back only the interest charge and continue to borrow the principle amount. Alaska permits borrowers two rollovers per loan. Payday loan companies in Alaska also have to offer repayment plans to borrowers.

Criminal Action Against Borrowers

Criminal action may not be taken against borrowers unless a check is returned because the borrower's account has been closed.

What Happens if a Payday Loan is Sent to Collections?

In Alaska, payday loan companies are permitted to charge a $30 insufficient funds fee, and then court costs of as much as $700 plus the amount of the loan. In order to be enforced, these regulations must be stated in the original loan agreement.

Where to Get More Information

Anyone who is interested in knowing more about how payday loans work and what other regulations might be can contact the Alaska Division of Banking and Securities, which is located in Juneau, AK.

Check Plus
1648 South Cushman Street Suite 203
Fairbanks, AK 99701
Cash Now Financial Corporation
903 West Northern Lights Boulevard
Anchorage, AK 99503
Checkrite of Alaska
123 East Fireweed Lane Suite 22
Anchorage, AK 99503
Check Plus
360 West Benson Boulevard
Anchorage, AK 99503
Cash Alaska
3290 Mountain View Drive
Anchorage, AK 99501
Cash Alaska
3920 Mountain View Drive
Anchorage, AK 99508
Cash by Alaska Super Pawn
3701 Mountain View Drive
Anchorage, AK 99508
Alaska 1st Cash
229 West Fireweed Lane
Anchorage, AK 99503
Cash Now Financial Corporation
5313 Arctic Boulevard
Anchorage, AK 99518
Cashnow Financial Corporation
5313 Arctic Boulevard
Anchorage, AK 99518

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Alaska Loan Statistics

Pay Schedule
Average Loan Average Age Weekly Bi-Weekly Monthly Twice Per Month Home Owner Renter
2012$7133716%44%18%22%31%69%
2011$596368%52%16%24%32%68%
2010$6513710%45%17%27%24%76%