{"id":1654,"date":"2017-10-04T11:57:29","date_gmt":"2017-10-04T18:57:29","guid":{"rendered":"https:\/\/financer.com\/?page_id=1654"},"modified":"2024-11-26T21:22:42","modified_gmt":"2024-11-27T05:22:42","slug":"alabama","status":"publish","type":"page","link":"https:\/\/financer.com\/loans\/alabama\/","title":{"rendered":"Alabama Loans"},"content":{"rendered":"\n<p>Payday loans in Alabama are short-term financial products designed for urgent needs. However, they come with significant costs and potential risks that borrowers should carefully consider. <\/p>\n\n\n\n<p>While these payday loans in Alabama are legal, and can provide quick access to cash, their high costs and short repayment terms make them a financial option that should be approached with caution. <\/p>\n\n\n<div class=\"fn_block block_fn_msg_box company\"><div class=\"fn_block__icon\"><\/div><h3>Best Payday Loans in Alabama<\/h3><ul>\n<li><a href=\"https:\/\/financer.com\/company\/loansunder36\/redirect\/\" rel=\"sponsored noopener nofollow\" target=\"_blank\">LoansUnder36<\/a> &#8211; Best Payday Loan Alternative\u00a0<\/li>\n<li class=\"\"><a href=\"#advanceamerica\">Advance America<\/a> &#8211; Best for Widespread Locations<\/li>\n<li class=\"\"><a href=\"https:\/\/financer.com\/company\/speedy-cash\/\">Speedy Cash<\/a> &#8211; Best for Online and In-Store Options<\/li>\n<li class=\"\"><a href=\"#acecash\">ACE Cash Express<\/a> &#8211; Best for Quick Application Process<\/li>\n<li class=\"\"><a href=\"https:\/\/financer.com\/company\/low-credit-finance\/redirect\/\" rel=\"sponsored noopener nofollow\" target=\"_blank\">Low Credit Finance<\/a> &#8211; Best Alternative For Bar Credit<\/li>\n<\/ul><\/div>\n\n\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 800 1000\">\n  <defs>\n    <lineargradient id=\"headerGradient\" x1=\"0%\" y1=\"0%\" x2=\"100%\" y2=\"0%\">\n      <stop offset=\"0%\" style=\"stop-color:#1e5d94;stop-opacity:1\"><\/stop>\n      <stop offset=\"100%\" style=\"stop-color:#3582c4;stop-opacity:1\"><\/stop>\n    <\/lineargradient>\n  <\/defs>\n  \n  <!-- Background -->\n  <rect width=\"800\" height=\"1000\" fill=\"#f8f8f8\"><\/rect>\n  \n  <!-- Header -->\n  <rect width=\"800\" height=\"80\" fill=\"url(#headerGradient)\"><\/rect>\n  <text x=\"400\" y=\"50\" font-family=\"Arial, sans-serif\" font-size=\"24\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"white\">Payday Loans in Alabama: Key Facts You Need to Know<\/text>\n  \n  <!-- Key Stats Section -->\n  <rect x=\"40\" y=\"100\" width=\"720\" height=\"160\" rx=\"15\" ry=\"15\" fill=\"#ffffff\" stroke=\"#2271b1\" stroke-width=\"2\"><\/rect>\n  \n  <!-- Maximum Loan Amount -->\n  <circle cx=\"160\" cy=\"180\" r=\"60\" fill=\"#2271b1\" opacity=\"0.1\"><\/circle>\n  <text x=\"160\" y=\"165\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">Max Loan<\/text>\n  <text x=\"160\" y=\"205\" font-family=\"Arial, sans-serif\" font-size=\"28\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">$500<\/text>\n  \n  <!-- Finance Charge -->\n  <circle cx=\"400\" cy=\"180\" r=\"60\" fill=\"#2271b1\" opacity=\"0.1\"><\/circle>\n  <text x=\"400\" y=\"165\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">Finance Charge<\/text>\n  <text x=\"400\" y=\"205\" font-family=\"Arial, sans-serif\" font-size=\"28\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">$17.50<\/text>\n  <text x=\"400\" y=\"225\" font-family=\"Arial, sans-serif\" font-size=\"14\" text-anchor=\"middle\" fill=\"#2271b1\">per $100<\/text>\n  \n  <!-- APR -->\n  <circle cx=\"640\" cy=\"180\" r=\"60\" fill=\"#2271b1\" opacity=\"0.1\"><\/circle>\n  <text x=\"640\" y=\"165\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">Max APR<\/text>\n  <text x=\"640\" y=\"205\" font-family=\"Arial, sans-serif\" font-size=\"28\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">638.75%<\/text>\n  \n  <!-- Loan Term -->\n  <rect x=\"40\" y=\"280\" width=\"720\" height=\"100\" rx=\"15\" ry=\"15\" fill=\"#ffffff\" stroke=\"#3582c4\" stroke-width=\"2\"><\/rect>\n  <text x=\"400\" y=\"320\" font-family=\"Arial, sans-serif\" font-size=\"20\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#3582c4\">Loan Term<\/text>\n  <text x=\"400\" y=\"350\" font-family=\"Arial, sans-serif\" font-size=\"18\" text-anchor=\"middle\" fill=\"#3582c4\">Minimum: 10 days | Maximum: 31 days<\/text>\n  \n  <!-- No Rollovers -->\n  <rect x=\"40\" y=\"400\" width=\"720\" height=\"80\" rx=\"15\" ry=\"15\" fill=\"#ffffff\" stroke=\"#3582c4\" stroke-width=\"2\"><\/rect>\n  <text x=\"400\" y=\"450\" font-family=\"Arial, sans-serif\" font-size=\"20\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#3582c4\">Rollovers are prohibited in Alabama<\/text>\n  \n  <!-- Cooling-Off Period -->\n  <rect x=\"40\" y=\"500\" width=\"720\" height=\"120\" rx=\"15\" ry=\"15\" fill=\"#ffffff\" stroke=\"#3582c4\" stroke-width=\"2\"><\/rect>\n  <text x=\"400\" y=\"540\" font-family=\"Arial, sans-serif\" font-size=\"20\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#3582c4\">Cooling-Off Period<\/text>\n  <text x=\"400\" y=\"570\" font-family=\"Arial, sans-serif\" font-size=\"16\" text-anchor=\"middle\" fill=\"#3582c4\">One business day after taking three<\/text>\n  <text x=\"400\" y=\"590\" font-family=\"Arial, sans-serif\" font-size=\"16\" text-anchor=\"middle\" fill=\"#3582c4\">consecutive loans<\/text>\n  \n  <!-- Collection Practices -->\n  <rect x=\"40\" y=\"640\" width=\"720\" height=\"100\" rx=\"15\" ry=\"15\" fill=\"#fff3e0\" stroke=\"#d54e21\" stroke-width=\"2\"><\/rect>\n  <text x=\"400\" y=\"680\" font-family=\"Arial, sans-serif\" font-size=\"20\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#d54e21\">Collection Practices<\/text>\n  <text x=\"400\" y=\"710\" font-family=\"Arial, sans-serif\" font-size=\"16\" text-anchor=\"middle\" fill=\"#d54e21\">Criminal actions prohibited for loan collection<\/text>\n\n  <!-- Loan Example Box -->\n  <rect x=\"40\" y=\"760\" width=\"720\" height=\"220\" rx=\"15\" ry=\"15\" fill=\"#ffffff\" stroke=\"#2271b1\" stroke-width=\"2\"><\/rect>\n  <text x=\"400\" y=\"790\" font-family=\"Arial, sans-serif\" font-size=\"22\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">Loan Example<\/text>\n  \n  <!-- Left column -->\n  <text x=\"70\" y=\"830\" font-family=\"Arial, sans-serif\" font-size=\"16\" fill=\"#2271b1\">Loan Amount:<\/text>\n  <text x=\"200\" y=\"830\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" fill=\"#2271b1\">$100<\/text>\n  \n  <text x=\"70\" y=\"860\" font-family=\"Arial, sans-serif\" font-size=\"16\" fill=\"#2271b1\">Loan Term:<\/text>\n  <text x=\"200\" y=\"860\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" fill=\"#2271b1\">10 days<\/text>\n  \n  <text x=\"70\" y=\"890\" font-family=\"Arial, sans-serif\" font-size=\"16\" fill=\"#2271b1\">Finance Charge:<\/text>\n  <text x=\"200\" y=\"890\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" fill=\"#2271b1\">$17.50<\/text>\n  \n  <text x=\"70\" y=\"920\" font-family=\"Arial, sans-serif\" font-size=\"16\" fill=\"#2271b1\">APR:<\/text>\n  <text x=\"200\" y=\"920\" font-family=\"Arial, sans-serif\" font-size=\"18\" font-weight=\"bold\" fill=\"#2271b1\">638.75%<\/text>\n  \n  <!-- Right column -->\n  <rect x=\"440\" y=\"820\" width=\"290\" height=\"100\" rx=\"10\" ry=\"10\" fill=\"#f0f8ff\" stroke=\"#2271b1\" stroke-width=\"2\"><\/rect>\n  <text x=\"585\" y=\"860\" font-family=\"Arial, sans-serif\" font-size=\"20\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">Total to Repay:<\/text>\n  <text x=\"585\" y=\"900\" font-family=\"Arial, sans-serif\" font-size=\"32\" font-weight=\"bold\" text-anchor=\"middle\" fill=\"#2271b1\">$117.50<\/text>\n<\/svg>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Online_Payday_Loans_in_Alabama\">Online Payday Loans in Alabama<\/h2>\n\n\n\n<p>The reality is that all payday lenders in Alabama will charge you similar high fees to borrow money. They&#8217;re all trying to maximize their profits up to the <a href=\"https:\/\/banking.alabama.gov\/pdf\/Consumer%20Credit\/Laws\/Deferred_Presentment_Services_Act.pdf\">state&#8217;s legal limits<\/a>.<\/p>\n\n\n\n<p>Because of this, choosing between different payday lenders often doesn&#8217;t result in significant savings &#8211; you&#8217;ll likely end up paying high fees regardless of which lender you choose.<\/p>\n\n\n\n<p>Given this situation, how should you proceed if you need a short-term loan in Alabama?<\/p>\n\n\n<div class=\"fn_block block_fn_msg_box warning\"><div class=\"fn_block__icon\"><\/div><h3 id=\"Why_We_Dont_Recommend_Payday_Lenders_in_Alabama\">Why We Don&#8217;t Recommend Payday Lenders in Alabama<\/h3><p><!-- wp:paragraph --><\/p>\n<p>While payday loans might seem like a quick solution to financial emergencies, they come with significant drawbacks:<\/p>\n<p><!-- \/wp:paragraph --> <!-- wp:list --><\/p>\n<ul><!-- wp:list-item -->\n<li><strong>Extremely high interest rates<\/strong>: Annual Percentage Rates (APRs) for payday loans in Alabama can reach up to 638%.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Short repayment terms<\/strong>: Typically, you only have until your next payday to repay the loan in full.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Potential debt cycle<\/strong>: Many borrowers struggle to repay on time, leading to rollovers and additional fees.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Limited regulation<\/strong>: While Alabama has some regulations on payday lending, they still allow for very high-cost loans.<\/li>\n<!-- \/wp:list-item --><\/ul>\n<p><!-- \/wp:list --><\/p><\/div>\n\n\n<h3 class=\"wp-block-heading\" id=\"A_Better_Alternative_LoansUnder36\">A Better Alternative: LoansUnder36<\/h3>\n\n\n<div class=\"fn_block block_fn_items fields_containeris-hidden\"><div class=\"items-content__cards\"><div class=\"items-content__card \" data-header=\"1\"><div class=\"items-content__card-top\"><div class=\"items-content__card-left\"><a href=\"https:\/\/financer.com\/company\/loansunder36\/\" class=\"items-content__card-logo \" ><img decoding=\"async\" width=\"600\" height=\"73\" src=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2021\/09\/loansunder36.png\" class=\"attachment-full size-full\" alt=\"LoansUnder36\" srcset=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2021\/09\/loansunder36.png 600w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2021\/09\/loansunder36-300x37.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><span class=\"items-content__card-chosen\">Chosen <strong>6,405<\/strong> times<\/span><ul class=\"items-content__card-list\"><li >Loans with APRs under 36%<\/li><li >Loans from $500 to $35,000<\/li><li >Fast and easy approval process<\/li><li >No minimum credit score requirement to apply<\/li><\/ul><\/div><div class=\"items-content__card-datapoint-container\"><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Min Loan Amount<\/span><span class=\"items-content__card-datapoint-value\">500<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Max Loan Amount<\/span><span class=\"items-content__card-datapoint-value\">35000<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Lowest APR<\/span><span class=\"items-content__card-datapoint-value\">5.99<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Highest APR<\/span><span class=\"items-content__card-datapoint-value\">35.99<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Min Loan Term<\/span><span class=\"items-content__card-datapoint-value\">2 Months<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Max Loan Term<\/span><span class=\"items-content__card-datapoint-value\">6 Years<\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Accepts bad credit:<\/span><span class=\"items-content__card-datapoint-value\">Yes. <\/span><\/div><div class=\"items-content__card-datapoint\"><span class=\"items-content__card-datapoint-title\">Minimum Age<\/span><span class=\"items-content__card-datapoint-value\">18<\/span><\/div><\/div><div class=\"items-content__card-right\"><a href=\"https:\/\/financer.com\/company\/loansunder36\/redirect\/\" data-url_param_unq=\"\"  data-url_param_pid=\"22629\" data-url_param_t=\"company_single\" class=\"button is-primary is-rounded is-arrow items-content__card-see-offer items-content__card-see-offer--\" target=\"_blank\" rel=\"sponsored nofollow\">See offer<\/a><a href=\"https:\/\/financer.com\/company\/loansunder36\/\"  class=\"button is-rounded items-content__card-more-info\">More Info<\/a><a href=\"https:\/\/financer.com\/company\/loansunder36\/#read-reviews\" class=\"simple-rating\"><div class=\"simple-rating__stars simple-rating__stars--right\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><img decoding=\"async\" src=\"https:\/\/financer.global\/app\/themes\/financer-v2\/assets\/images\/stars\/star_rating_blue.svg\" alt=\"rating_blue\" style=\"width: 18px;\"><\/div><span class=\"simple-rating-value rating_green\" data-rating-value=\"5\">5.0<\/span><\/a><span class=\"items-content__card-reviews\">Read&nbsp;<a href=\"https:\/\/financer.com\/company\/loansunder36\/#read-reviews\">4<\/strong>&nbsp;reviews<\/a><\/div><\/div><\/div><\/div><\/div>\n\n\n<p>Instead of recommending a direct payday lender, we suggest considering <a href=\"https:\/\/financer.com\/company\/loansunder36\/\">LoansUnder36<\/a> as a more affordable and flexible option.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Why_LoansUnder36_Deserves_Your_Attention\">Why LoansUnder36 Deserves Your Attention<\/h3>\n\n\n\n<p>LoansUnder36 is not a direct lender but a marketplace that connects borrowers with multiple lenders offering personal loans. Here&#8217;s why they might be a better fit for Alabama residents:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><h3 id=\"Advantages\">Advantages<\/h3><li><p><strong>Lower Interest Rates<\/strong>: As the name suggests, all loans have APRs under 36% &#8211; significantly lower than payday loans.<\/p>\n<\/li><li><p><strong>Larger Loan Amounts<\/strong>: You can borrow between $500 and $35,000, depending on your qualifications.<\/p>\n<\/li><li><p><strong>Longer Repayment Terms<\/strong>: Instead of just a few weeks, you get 6 to 72 months to repay, making monthly payments more manageable.<\/p>\n<\/li><li><p><strong>Soft Credit Pull<\/strong>: They use a soft credit check that won&#8217;t impact your credit score to show you potential offers.<\/p>\n<\/li><li><p><strong>Multiple Lender Comparison<\/strong>: You can compare offers from various lenders in one place, potentially saving you time and money.<\/p>\n<\/li><\/ul><\/div>\n\n<div class=\"fn_block block_fn_msg_box info\"><div class=\"fn_block__icon\"><\/div><h3 id=\"You_Might_Benefit_from_LoansUnder36_If\">You Might Benefit from LoansUnder36 If:<\/h3><ul>\n<li>You&#8217;re looking for more than $500 (Alabama&#8217;s typical payday loan limit)<\/li>\n<li>You need more than a few weeks to repay your loan<\/li>\n<li>You have fair to good credit and can qualify for better rates<\/li>\n<li>You want to avoid the extremely high costs associated with payday loans<\/li>\n<\/ul><p class=\"has-text-centered\">\n\t    <a href=\"https:\/\/financer.com\/company\/loansunder36\/redirect\/?unq=66bf597d85e56\" rel=\"sponsored nofollow\" target=\"_blank\" class=\"button is-normal is-primary is-rounded is-large\">Apply Now <\/a>\n\t<\/p><\/div>\n\n\n<p>Remember, while <a href=\"https:\/\/financer.com\/company\/loansunder36\/\">LoansUnder36<\/a> offers more attractive terms than payday loans, it&#8217;s still a loan that needs to be repaid. Before applying, consider <a href=\"#Payday_Loan_Alternatives_to_Consider\">all your alternatives<\/a>. <\/p>\n\n\n\n<ol>\n<li>\n<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"How_Much_Do_Alabama_Payday_Loans_Cost\">How Much Do Alabama Payday Loans Cost?<\/h2>\n\n\n\n<p>Alabama payday loans come with extremely high costs that can trap borrowers in a cycle of debt. As we discussed earlier, <strong>all payday lenders in the state charge the maximum allowable fee.<\/strong><\/p>\n\n\n\n<p> To illustrate just how expensive these loans are, let&#8217;s break down the costs based on different loan terms:<\/p>\n\n\n\n<figure class=\"wp-block-table shortcode-no\"><table><thead><tr><th>Loan Term<\/th><th>Fee Rate<\/th><th>APR<\/th><th>Fee on $500 Loan<\/th><th>Total Repayment on $500 Loan<\/th><\/tr><\/thead><tbody><tr><td>10 days<\/td><td>17.50%<\/td><td>638.75%<\/td><td>$87.50<\/td><td>$587.50<\/td><\/tr><tr><td>14 days<\/td><td>17.50%<\/td><td>456.25%<\/td><td>$87.50<\/td><td>$587.50<\/td><\/tr><tr><td>31 days<\/td><td>17.50%<\/td><td>206.05%<\/td><td>$87.50<\/td><td>$587.50<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n<div class=\"fn_block block_fn_msg_box key-takeaways\"><div class=\"fn_block__icon\"><\/div><h3 id=\"Key_Takeaways\">Key Takeaways:<\/h3><ul>\n<li class=\"whitespace-normal break-words\"><strong>Consistent Fee Rate<\/strong>: Regardless of the loan term, Alabama payday lenders charge a flat 17.50% fee on the loan amount.<\/li>\n<li class=\"whitespace-normal break-words\"><strong>High APRs<\/strong>: Even the lowest APR (206.05% for a 31-day term) is significantly higher than most other forms of credit.<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Short Terms Inflate Costs<\/strong>: The shorter the loan term, the higher the effective APR, with 10-day loans reaching an astronomical 638.75% APR.<\/li>\n<li class=\"whitespace-normal break-words\"><strong>No Cost Savings for Larger Loans<\/strong>: The fee rate remains constant regardless of the loan amount, offering no economy of scale for larger loans.<\/li>\n<\/ul><\/div>\n\n\n<h3 class=\"wp-block-heading\" id=\"Comparing_Payday_Loans_to_Alternative_Borrowing_Options\">Comparing Payday Loans to Alternative Borrowing Options<\/h3>\n\n\n\n<p>To truly understand the cost of Alabama payday loans, it&#8217;s helpful to compare them with other short-term borrowing options. <\/p>\n\n\n\n<p>Let&#8217;s look at how a $500 payday loan compares to alternatives such as installment loans, pawnshop loans, and cash advance app loans.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Comparison_for_a_500_Loan\">Comparison for a $500 Loan:<\/h3>\n\n\n\n<figure class=\"wp-block-table shortcode-no\"><table><thead><tr><th>Loan Type<\/th><th>Typical APR Range<\/th><th>Repayment Term<\/th><th>Estimated Total Repayment<\/th><\/tr><\/thead><tbody><tr><td>Payday Loan (Alabama)<\/td><td>206.05% &#8211; 638.75%<\/td><td>10-31 days<\/td><td>$587.50<\/td><\/tr><tr><td>Installment Loan<\/td><td>36% &#8211; 100%<\/td><td>3 months<\/td><td>$537.50 &#8211; $625.00<\/td><\/tr><tr><td>Pawnshop Loan<\/td><td>12% &#8211; 240%<\/td><td>30 days (renewable)<\/td><td>$520.00 &#8211; $600.00<\/td><\/tr><tr><td>Cash Advance App<\/td><td>0% &#8211; 36%<\/td><td>Until next paycheck<\/td><td>$500.00 &#8211; $515.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n\t\t<div id=\"genericloan_1_form\" class=\"fs-slider fs-slider--tooltip search-hero--bg1\"><h3>Compare loans from 79 lenders<\/h3><p>Find the cheapest rate with one click<\/p><div class=\"step amount\">    <div class=\"slider_cont step__value\">\n        <span class=\"fl_l_m_15 amount_display\"><\/span>\n    <\/div>\n    <div class=\"step__slider\">\n        <input type=\"range\" data-default-value=\"500\" data-name=\"param_amount\" \/>\n    <\/div>\n<\/div><div class=\"step stepSubmit\"><a id=\"submitSliders\" href=\"https:\/\/financer.com\/results?query=1&non_affiliate=true&param_amount=500&loan_broker_filter_active=true&param_period=360\" data-slider-url=\"https:\/\/financer.com\/results?query=1&non_affiliate=true&param_amount=500&loan_broker_filter_active=true&param_period=360\" data-required=\"results?query=1non_affiliate=true&param_amount=500&loan_broker_filter_active=true&param_period=360&\" class=\"get_results compare button is-primary is-medium is-rounded\">Compare Offers<\/a><\/div>\t\t<\/div><h2 class=\"wp-block-heading\" id=\"How_do_I_Apply_for_a_Payday_Loans_in_Alabama\">How do I Apply for a Payday Loans in Alabama?<\/h2>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"check\"><h3 id=\"What_Youll_Need\">What You&#8217;ll Need:<\/h3><li><p><strong>Proof of Identity<\/strong>: A valid, government-issued photo ID (driver&#8217;s license, state ID, or passport). Must be at least 18 years old.<\/p>\n<\/li><li><p><strong>Proof of Income<\/strong>: Recent pay stubs (usually from the last 30 days). For self-employed: tax returns or 1099 forms may be required.<\/p>\n<\/li><li><p><strong>Active Bank Account<\/strong>: Checking account details (account number and routing number). The account should be in your name.<\/p>\n<\/li><li><p><strong>Contact Information<\/strong>: Current phone number, valid email address, and physical address (P.O. boxes are typically not accepted).<\/p>\n<\/li><li><p><strong>Social Security Number<\/strong>: For identity verification purposes.<\/p>\n<\/li><\/ul><\/div>\n\n<div class=\"single-article__steps\">        <style>\n            .single-article__steps-items .single-article__steps-content {\n                background: #FFFFFF;\n                padding: 30px;\n                margin: 0 0 30px 0;\n                border-radius: 10px;\n                box-shadow: 0 0 10px 0 rgba(0, 0, 0, 0.14);\n                width: calc(100% - 5px);\n            }\n            .single-article__steps-items .single-article__steps-counter {\n                padding: 5px 20px;\n                border-radius: 3px;\n                background-color: #F5E7D8;\n                display: inline-block;\n                top: 15px;\n                left: -30px;\n                position: relative;\n                font-size: 16px;\n                font-weight: 600;\n            }\n\/*            .single-article__steps-items::before {\n                content: \"\";\n                position: absolute;\n                top: 20px;\n                left: 0;\n                height: calc(100% + 40px);\n                border-left: 2px dashed #e0e0e1;\n            }*\/\n            .single-article__conclusion-tag {\n                padding: 5px 20px;\n                border-radius: 3px;\n                color: #000000;\n                background-color: #F5E7D8;\n                display: inline-block;\n                top: 15px;\n                left: -30px;\n                position: relative;\n                font-size: 16px;\n                font-weight: 600;\n            }\n            .single-article__conclusion-item {\n                background: #FFFFFF;\n                padding: 30px;\n                margin: 0 0 30px 0;\n                border-radius: 10px;\n                box-shadow: 0 0 10px 0 rgba(0, 0, 0, 0.14);\n            }\n        <\/style>\n        <div class=\"single-article__steps-items\"><div class=\"single-article__steps-counter\" id=\"step_1\">Step 1<\/div><div class=\"single-article__steps-content\"><h3 id=\"Choose-your-lender\">Choose your lender<\/h3><p>We recommend LoansUnder36 which has the potential to save you hundreds compared to a payday loan. <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">To apply::<\/span><\/p>\n<ul class=\"-mt-1 list-disc space-y-2 pl-8\">\n<li class=\"whitespace-normal break-words\"><a href=\"https:\/\/financer.com\/company\/loansunder36\/redirect\/\" rel=\"sponsored noopener nofollow\" target=\"_blank\">Click here to begin their application process<\/a>\u00a0<\/li>\n<li class=\"whitespace-normal break-words\">Follow the prompts to complete your application<\/li>\n<\/ul>\n<p>Alternatively, if you do want a payday loan, one of the lenders we mentioned earlier (such as Advance America, ACE Cash Express, or Speedy Cash) may have a physical location near you, and can always apply in person. This option also typically offers same-day funding. In-store applications can be convenient if you:<\/p>\n<ul class=\"-mt-1 list-disc space-y-2 pl-8\">\n<li class=\"whitespace-normal break-words\">Prefer face-to-face interactions<\/li>\n<li class=\"whitespace-normal break-words\">Have questions you&#8217;d like answered in person<\/li>\n<li class=\"whitespace-normal break-words\">Want to receive your funds immediately in cash<\/li>\n<\/ul><\/div><div class=\"single-article__steps-counter\" id=\"step_2\">Step 2<\/div><div class=\"single-article__steps-content\"><h3 id=\"Complete-the-Application\">Complete the Application<\/h3><ul>\n<li class=\"whitespace-normal break-words\"><strong>Online<\/strong>: Usually takes 10-15 minutes<\/li>\n<li class=\"whitespace-normal break-words\"><strong>In<\/strong>&#8211;<strong>person<\/strong>: Might take 30 minutes to an hour<\/li>\n<\/ul>\n<p>Be honest and accurate. Lenders cross-check information, and discrepancies can lead to automatic rejection.<\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_3\">Step 3<\/div><div class=\"single-article__steps-content\"><h3 id=\"Review-the-loan-agreement\">Review the loan agreement<\/h3><p>This is crucial! Don&#8217;t skip the fine print. Heres what to look for:<\/p>\n<ul>\n<li class=\"whitespace-normal break-words\"><strong>Fee structure<\/strong>: Should not exceed 17.50% of the check&#8217;s face value<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Repayment date<\/strong>: Mark this on your calendar immediately<\/li>\n<\/ul>\n<p>If anything is unclear, ask questions. Reputable lenders should be willing to explain every detail.<\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_4\">Step 4<\/div><div class=\"single-article__steps-content\"><h3 id=\"Wait-for-approval\">Wait for approval<\/h3><ul>\n<li class=\"whitespace-normal break-words\"><strong>Online<\/strong>: Often instant or within a few hours<\/li>\n<li class=\"whitespace-normal break-words\"><strong>In-person<\/strong>: Usually on the spot<\/li>\n<li class=\"whitespace-normal break-words\"><strong>What affects approval?<\/strong>: Income, existing debts, past payday loan history<\/li>\n<\/ul>\n<p>A quick approval doesn&#8217;t mean this is a good financial move. Take a moment to reconsider if this is truly your best option.<\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_5\">Step 5<\/div><div class=\"single-article__steps-content\"><h3 id=\"Get-your-cash\">Get your cash<\/h3><ul>\n<li class=\"whitespace-normal break-words\"><strong>Online with Advance America<\/strong>: Same-day ACH transfer possible if approved early<\/li>\n<li class=\"whitespace-normal break-words\"><strong>In-store<\/strong>: Immediate cash or check<\/li>\n<\/ul>\n<p>Faster funding might come with additional fees. Always ask if there&#8217;s a charge for expedited transfer.<\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_6\">Step 6<\/div><div class=\"single-article__steps-content\"><h3 id=\"Preparing-for-Repayment\">Preparing for Repayment<\/h3><ul>\n<li><strong>Due date<\/strong>: Typically your next payday, maximum 31 days in Alabama<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Repayment methods<\/strong>: Automatic withdrawal (most common), In-person cash payment, or Online transfer.<\/li>\n<\/ul>\n<p>Set up alerts several days before the due date. Ensure your account has sufficient funds to avoid overdraft fees on top of loan fees.<\/p>\n<div class=\"font-styrene relative\">\n<div class=\"bg-bg-100 text-text-500 flex items-center justify-center rounded-l-[inherit] w-14 bg-bg-200 border-border-200 border-r-[0.5px]\">\u00a0<\/div>\n<div class=\"padding min-w-0 flex-1 px-4 py-3\">\n<div class=\"break-words text-sm font-medium leading-tight\">\u00a0<\/div>\n<\/div>\n<\/div><\/div><\/div>            <div class=\"single-article__conclusion\">\n                            <\/div>\n            <\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"Are_there_Alternatives_\">Are there Alternatives? <\/h2>\n\n\n\n<p>While <a href=\"https:\/\/financer.com\/loans\/payday-loans\/\">payday loans<\/a> might seem like a quick and easy solution, they often come with extremely high interest rates and fees that can trap borrowers in a cycle of debt. <\/p>\n\n\n\n<p>It&#8217;s crucial to understand that there are usually better alternatives available, even if you have less-than-perfect credit or need money quickly.<\/p>\n\n\n\n<p><strong>Here are several alternatives to consider, each with its own advantages:<\/strong><\/p>\n\n\n<div class=\"fn_block block_fn_msg_box info\"><div class=\"fn_block__icon\"><\/div><h3 id=\"6_Smart_Payday_Loan_Alternatives\">6 Smart Payday Loan Alternatives:<\/h3><p><!-- wp:list --><\/p>\n<ul><!-- wp:list-item -->\n<li><strong>Paycheck Advance Apps<\/strong>: Provide access to a portion of your earned wages before payday. Often charge minimal fees or operate on a tip-based model. Examples include Earnin, Dave, and Brigit<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Credit card cash advances<\/strong>: Usually have lower APRs than payday loans, though higher than regular purchases.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Negotiate with creditors<\/strong>: Many offer hardship programs or payment plans, which can help avoid late fees and negative credit reporting.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Local charities or government assistance<\/strong>: Programs like Alabama 211 or the Alabama Department of Human Resources offer various forms of financial aid.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Employer paycheck advances<\/strong>: Some employers offer low or no-cost advances, typically repaid through payroll deductions.<\/li>\n<!-- \/wp:list-item --> <!-- wp:list-item -->\n<li><strong>Pawnshop Loans<\/strong>: <a href=\"https:\/\/financer.com\/loans\/articles\/pawnshop-loans\/\">Use valuables as collateral for a short-term loan<\/a> with lower rates than payday lenders.<\/li>\n<!-- \/wp:list-item --><\/ul>\n<p><!-- \/wp:list --><\/p><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"Risks_and_Considerations\">Risks and Considerations<\/h2>\n\n\n\n<p>We&#8217;ve said it over and over throughout this article. Payday loans can be very dangerous. Here&#8217;s a closer look why:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"The_Debt_Cycle\">The Debt Cycle<\/h3>\n\n\n\n<p>One of the most significant risks associated with payday loans is the potential to fall into a cycle of debt. Although Alabama prohibits rollovers, borrowers might be tempted to take out new loans to cover old ones, leading to a cycle of increasing debt.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Breaking the Cycle<\/h4>\n\n\n\n<ul>\n<li><strong>Seek Financial Counseling<\/strong>: Organizations like the <a href=\"https:\/\/www.nfcc.org\/\">National Foundation for Credit Counseling<\/a> can provide guidance on managing debt and breaking the payday loan cycle.<\/li>\n\n\n\n<li><strong>Consider Debt Consolidation<\/strong>: A debt consolidation loan could help you pay off payday loans and other debts with a single, lower-interest loan.<\/li>\n<\/ul>\n\n\n\n                <div class=\"fn_block block_fn_msg_box cost search-hero--bg1\">\n\t\t\t\t<h3>How to save <span class=\"compare-amount\">$619.00 <\/span> on your loan<\/h3>\n\t\t\t\t<p>The price difference for a $500.00 loan in 90 days is $619.00.<\/p>\n\t\t\t\t<p class=\"has-text-left\"><a href=\"https:\/\/financer.com\/results\/?query=1&filter_non_affiliate=1&param_amount=500&param_period=90\" class=\"button is-normal is-primary is-rounded\">Find out how<\/a><\/p>\n                <\/div><h2 class=\"wp-block-heading\" id=\"Alabama_Borrowers_Legal_Protections_and_Resources\">Alabama Borrowers&#8217; Legal Protections and Resources<\/h2>\n\n\n\n<p>Alabama has implemented several laws and regulations to protect consumers who use payday loan services. These protections are designed to prevent predatory lending practices and ensure fair treatment of borrowers.<\/p>\n\n\n\n<p>Here are some key protections and regulations you should be aware of:<\/p>\n\n\n\n<ol>\n<li><strong>Maximum loan amount<\/strong>: Alabama law caps payday loans at $500.<\/li>\n\n\n\n<li><strong>Loan term limits<\/strong>: Loans must be between 10 and 31 days.<\/li>\n\n\n\n<li><strong>Fee restrictions<\/strong>: Lenders can charge no more than $17.50 per $100 borrowed.<\/li>\n\n\n\n<li><strong>No criminal action<\/strong>: Lenders cannot pursue criminal charges for failure to repay.<\/li>\n\n\n\n<li><strong>Cooling-off period<\/strong>: There&#8217;s a one-day cooling-off period between loans.<\/li>\n\n\n\n<li><strong>Database check<\/strong>: Lenders must check the state database to ensure borrowers don&#8217;t have outstanding payday loans exceeding $500.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Resources_for_Alabama_Borrowers\">Resources for Alabama Borrowers:<\/h3>\n\n\n\n<ul>\n<li><strong>Alabama State Banking Department<\/strong>: Regulates payday lenders and handles complaints. Website: <a href=\"http:\/\/www.banking.alabama.gov\">www.banking.alabama.gov<\/a> Phone: (334) 242-3452<\/li>\n\n\n\n<li><strong>Alabama Attorney General&#8217;s Office<\/strong>: Provides consumer protection services. Website: <a href=\"https:\/\/www.alabamaag.gov\">www.alabamaag.gov<\/a> Consumer Protection Hotline: (800) 392-5658<\/li>\n\n\n\n<li><strong>Credit Counseling Services<\/strong>: For free or low-cost financial advice. National Foundation for Credit Counseling: <a href=\"http:\/\/www.nfcc.org\">www.nfcc.org<\/a><\/li>\n\n\n\n<li><strong>Alabama 211<\/strong>: Connects residents with local resources for financial assistance. Dial 211 or visit <a href=\"http:\/\/www.211connectsalabama.org\">www.211connectsalabama.org<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"FAQs_about_Online_Payday_Loans_in_Alabama\">FAQs about Online Payday Loans in Alabama<\/h2>\n\n\n<div class=\"fn_block block_fn_faq_list\"><h4>Can I get an online payday loan with bad credit in Alabama?<\/h4><div class=\"faq_inner\"><p>Yes, many lenders offer loans regardless of credit score, but fees will be high.<\/p><\/div><h4>How quickly can I receive funds?<\/h4><div class=\"faq_inner\"><p>Most lenders provide funds within 24 hours, some offer same-day funding.<\/p><\/div><h4>Are there restrictions on loan use?<\/h4><div class=\"faq_inner\"><p>No specific restrictions, but use responsibly for urgent, short-term needs only.<\/p><\/div><h4>Can I have multiple payday loans at once?<\/h4><div class=\"faq_inner\"><p>You can have multiple loans, but the total amount borrowed cannot exceed $500.<\/p><\/div><h4>What happens if I can&#8217;t repay on time?<\/h4><div class=\"faq_inner\"><p>You may face additional fees and potential legal action. Lenders cannot pursue criminal charges.<\/p><\/div><h4>What documents do I need to apply?<\/h4><div class=\"faq_inner\"><p>Typically, you&#8217;ll need a valid ID, proof of income, and bank account details.<\/p><\/div><h4>How do payday loans affect my credit score?<\/h4><div class=\"faq_inner\"><p>Most payday lenders don&#8217;t report to credit bureaus, but defaulting can impact your score if sent to collections.<\/p><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Payday loans in Alabama are short-term financial products designed for urgent needs. However, they come with significant costs and potential\u2026 <\/p>\n","protected":false},"author":37432,"featured_media":84402,"parent":184,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"disable_branded_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ep_exclude_from_search":false},"categories":[1076],"tags":[26],"_links":{"self":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1654"}],"collection":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/users\/37432"}],"replies":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/comments?post=1654"}],"version-history":[{"count":33,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1654\/revisions"}],"predecessor-version":[{"id":81121,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1654\/revisions\/81121"}],"up":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media\/84402"}],"wp:attachment":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media?parent=1654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/categories?post=1654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/tags?post=1654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}