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Alabama Payday Loan Law and Legislation

Alabama Payday Loan Law and Legislation

Pay day loans are believed appropriate when you look at the state of Alabama.

Alabama imposes a $500 quantity restriction on payday advances available in their state. Payday advances can be studied for a time period of 10-31 times using the optimum finance cost of 17.50% for every single $100 and 456%* APR. One rollover is allowed and a cooling-off amount of 1 working day following the 2d consecutive loan should pass before an individual may submit an application for a loan that is new.