Alaska

State Payday Loan Law Information

Payday loans in Alaska are restricted to amounts equal to or less than $500.  The loan term is a minimum of 14 days.

A licensee may only charge a nonrefundable origination fee in an amount not to exceed $5.  The lender may also charge a fee that does not exceed $15 for each $100 of an advance or 15 percent of the total amount of the advance, whichever is less. 

There is no maximum on the number of outstanding loans at one time.  Two rollover renewals are permitted and there is not cooling off period.
The lender is entitled a $30 NSF collection fee and court costs up to $700 over the amount of the payment if this is disclosed in the loan agreement. Unless the check is returned due to a closed account, no criminal action is permitted.

 

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