{"id":1666,"date":"2017-10-05T10:27:47","date_gmt":"2017-10-05T17:27:47","guid":{"rendered":"https:\/\/financer.com\/?page_id=1666"},"modified":"2025-03-28T05:08:12","modified_gmt":"2025-03-28T12:08:12","slug":"alaska","status":"publish","type":"page","link":"https:\/\/financer.com\/loans\/alaska\/","title":{"rendered":"Alaska Loans"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">Online Payday Loans in Alaska<\/h1>\n\n\n\n<p><a href=\"https:\/\/financer.com\/loans\/payday-loans\/\">Payday loans<\/a> in Alaska are capped at $500 with loan terms up to 14 days. Lenders can charge finance fees up to $15 per $100 borrowed (15%), resulting in APRs around 390%. These loans come with significant costs and risks that can lead to a cycle of debt.<\/p>\n\n\n\n<p><strong>Our Take:<\/strong> Payday loans should be avoided. Before considering a payday loan, explore all other financial options including credit union loans, payment plans with creditors, local assistance programs, or emergency savings.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Payday loans come with steep costs that can make your financial situation worse. <\/p>\n\n\n\n<p>This guide provides information about how payday loans work in Alaska and offers alternatives that can help you address financial emergencies without the risks of high-cost borrowing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Payday_Lenders_Operating_in_Alaska\">Payday Lenders Operating in Alaska<\/h2>\n\n\n\n<p>We analyzed three loan companies that offer payday loans in Alaska.<\/p>\n\n\n\n<p><strong>Check Into Cash<\/strong> <\/p>\n\n\n\n<p><strong>ACE Cash Express<\/strong> <\/p>\n\n\n\n<p><strong>Money Mart<\/strong> <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Online_Payday_Loans_in_Alaska\">Online Payday Loans in Alaska<\/h2>\n\n\n\n<p>Most direct payday lenders in Alaska charge the maximum fees allowed by state law. With finance charges capped at $15 per $100 borrowed (15%), you&#8217;ll pay the same high rates regardless of which payday lender you choose.<\/p>\n\n\n\n<p>If you&#8217;re considering a payday loan despite the risks, be aware of the following:<\/p>\n\n\n\n<ul>\n<li><strong>Maximum loan amount:<\/strong> $500 in Alaska<\/li>\n\n\n\n<li><strong>Maximum loan term:<\/strong> 14 days<\/li>\n\n\n\n<li><strong>Maximum finance charge:<\/strong> 15% of the amount borrowed<\/li>\n\n\n\n<li><strong>Rollovers:<\/strong> Prohibited under Alaska law<\/li>\n\n\n\n<li><strong>Cooling-off period:<\/strong> None specified in Alaska regulations<\/li>\n\n\n\n<li><strong>Collection practices:<\/strong> Lenders cannot pursue criminal charges for loan defaults<\/li>\n<\/ul>\n\n\n\n\t\t<div id=\"genericloan_0_form\" class=\"fs-slider fs-slider--tooltip search-hero--bg1\"><h3>Compare loans from 48 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=\"The_True_Cost_of_Alaska_Payday_Loans\">The True Cost of Alaska Payday Loans<\/h2>\n\n\n\n<p>Payday loans come at an extremely high price, especially in Alaska. Here&#8217;s the breakdown:<\/p>\n\n\n\n<p><strong>Fees:<\/strong> Alaska law allows lenders to charge up to $15 per $100 borrowed (15% of the loan amount). This is higher than many other states.<\/p>\n\n\n\n<p><strong>APR:<\/strong> When calculated annually, the APR on these loans reaches approximately 390%. This extremely high rate makes payday loans one of the most expensive borrowing options available.<\/p>\n\n\n\n<p>Let&#8217;s put this into perspective with a cost breakdown:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular shortcode-no\"><table><thead><tr><th>Loan Amount<\/th><th>Fee (15%)<\/th><th>Total to Repay<\/th><th>APR (14-day loan)<\/th><\/tr><\/thead><tbody><tr><td>$100<\/td><td>$15<\/td><td>$115<\/td><td>391%<\/td><\/tr><tr><td>$200<\/td><td>$30<\/td><td>$230<\/td><td>391%<\/td><\/tr><tr><td>$300<\/td><td>$45<\/td><td>$345<\/td><td>391%<\/td><\/tr><tr><td>$400<\/td><td>$60<\/td><td>$460<\/td><td>391%<\/td><\/tr><tr><td>$500<\/td><td>$75<\/td><td>$575<\/td><td>391%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Let&#8217;s put this into perspective:<\/strong><\/p>\n\n\n\n<ul>\n<li><strong>Short-term cost, long-term impact:<\/strong> While $75 on a $500 loan might seem manageable in the moment, you&#8217;re paying this for just a two-week loan. If you were to take out this loan repeatedly for a year (which we strongly advise against!), you&#8217;d pay $1,950 in fees alone.<\/li>\n\n\n\n<li><strong>The debt cycle risk:<\/strong> Many borrowers find themselves taking out new loans to pay off previous ones, creating a cycle of debt. In Alaska, while rollovers are prohibited, there&#8217;s nothing preventing you from taking out a new loan shortly after repaying your old one.<\/li>\n\n\n\n<li><strong>Comparing costs:<\/strong> The APR on these loans far exceeds other forms of credit. <a href=\"https:\/\/financer.com\/credit-cards\/\">Credit cards<\/a> typically have APRs between 12-30%, <a href=\"https:\/\/financer.com\/loans\/personal-loans\/\">personal loans<\/a> often range from 6-36%, and even a pawn shop loan usually caps out at about 200% APR.<\/li>\n\n\n\n<li><strong>Hidden costs:<\/strong> Don&#8217;t forget potential bank fees if your repayment bounces, late fees if you can&#8217;t pay on time, or the opportunity cost of being caught in a cycle of debt.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Before_You_Click_Apply_Now\">Before You Click &#8220;Apply Now&#8221;<\/h2>\n\n\n\n<p>Before applying for a payday loan in Alaska, ask yourself these important questions:<\/p>\n\n\n\n<ul>\n<li>Is this truly an emergency I can&#8217;t handle any other way?<\/li>\n\n\n\n<li>Have I explored all other options, including local assistance programs designed for Alaska residents?<\/li>\n\n\n\n<li>Can I realistically pay this back in 14 days without resorting to another loan?<\/li>\n\n\n\n<li>Am I comfortable with the fees and potential risks?<\/li>\n\n\n\n<li>Have I considered how Alaska&#8217;s unique economic factors (like seasonal employment) might affect my ability to repay?<\/li>\n<\/ul>\n\n\n\n<p>If you hesitated on any of these questions, it&#8217;s time to explore other options.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Alternatives_That_Wont_Keep_You_Up_at_Night\">Alternatives That Won&#8217;t Keep You Up at Night<\/h2>\n\n\n\n<p>Instead of high-cost payday loans, consider these alternatives available to Alaska residents:<\/p>\n\n\n\n<ul>\n<li><strong>Alaska Temporary Assistance Program:<\/strong> Provides temporary financial assistance to eligible families.<\/li>\n\n\n\n<li><strong>Alaska Housing Finance Corporation:<\/strong> Offers programs for emergency rental assistance.<\/li>\n\n\n\n<li><strong>Credit Union Loans:<\/strong> Alaska USA Federal Credit Union and other local credit unions offer small, short-term loans at much lower rates than payday lenders.<\/li>\n\n\n\n<li><strong>Paycheck Advance Apps:<\/strong> Apps like Earnin or Dave can give you an advance on your paycheck for a small fee, often much cheaper than payday loans.<\/li>\n\n\n\n<li><strong>Employer Advances:<\/strong> Some Alaska employers offer paycheck advances, especially in industries with seasonal work patterns.<\/li>\n\n\n\n<li><strong>Hardship Programs:<\/strong> Many Alaska utility companies offer assistance programs, particularly during the harsh winter months.<\/li>\n\n\n\n<li><strong>Native Corporation Dividends:<\/strong> If you&#8217;re an Alaska Native shareholder, check if emergency advance options are available.<\/li>\n\n\n\n<li><strong>Permanent Fund Dividend Loans:<\/strong> Some credit unions offer loans against upcoming PFD payments at reasonable rates.<\/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\">$1,190.00 <\/span> on your loan<\/h3>\n\t\t\t\t<p>The price difference for a $500.00 loan in 90 days is $1,190.00.<\/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=\"How_Payday_Loans_Work_in_Alaska\">How Payday Loans Work in Alaska<\/h2>\n\n\n\n<p>If after considering all alternatives, you still need information about payday loans in Alaska, here&#8217;s what you should know:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Legal_Requirements_for_Payday_Loans_in_Alaska\">Legal Requirements for Payday Loans in Alaska:<\/h3>\n\n\n\n<ul>\n<li><strong>Valid ID:<\/strong> A government-issued photo ID proving you&#8217;re at least 18 years old.<\/li>\n\n\n\n<li><strong>Proof of Income:<\/strong> Recent pay stubs or bank statements showing regular income.<\/li>\n\n\n\n<li><strong>Active Checking Account:<\/strong> An open checking account in your name.<\/li>\n\n\n\n<li><strong>Contact Information:<\/strong> A working phone number and valid email address.<\/li>\n\n\n\n<li><strong>Social Security Number:<\/strong> Or Individual Taxpayer Identification Number for verification purposes.<\/li>\n\n\n\n<li><strong>Post-dated Check:<\/strong> Or electronic authorization for the loan amount plus fees.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"The_Payday_Loan_Process_in_Alaska\">The Payday Loan Process in Alaska<\/h3>\n\n\n\n<p><strong>Application:<\/strong> Typically takes 10-15 minutes online. Lenders verify information, and discrepancies can lead to rejection.<\/p>\n\n\n\n<p><strong>Loan Agreement:<\/strong> Always read the fine print. The agreement should clearly state:<\/p>\n\n\n\n<ul>\n<li>Fee structure (not exceeding 15% of loan amount)<\/li>\n\n\n\n<li>Loan term (up to 14 days in Alaska)<\/li>\n\n\n\n<li>Repayment date<\/li>\n\n\n\n<li>Total amount due<\/li>\n<\/ul>\n\n\n\n<p><strong>Funding:<\/strong> Typically via ACH transfer to your bank account, usually within 1-2 business days. Some lenders may offer same-day funding for an additional fee.<\/p>\n\n\n\n<p><strong>Repayment:<\/strong> Due within 14 days, usually via automatic withdrawal from your bank account on the due date.<\/p>\n\n\n\n<p><strong>Consequences of Non-Payment:<\/strong> Failure to repay can result in:<\/p>\n\n\n\n<ul>\n<li>Returned item fees from both the lender and your bank<\/li>\n\n\n\n<li>Negative impact on your credit score<\/li>\n\n\n\n<li>Collection attempts including calls and letters<\/li>\n\n\n\n<li>Potential legal action (though criminal charges are prohibited)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Resources_for_Alaska_Borrowers\">Resources for Alaska Borrowers<\/h2>\n\n\n\n<p>If you&#8217;re facing financial hardship or struggling with debt, these resources can help:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Financial_Assistance_Programs\">Financial Assistance Programs<\/h3>\n\n\n\n<ul>\n<li><strong>Alaska Temporary Assistance Program:<\/strong> Provides temporary cash assistance to eligible families. Visit the Alaska Department of Health and Social Services website.<\/li>\n\n\n\n<li><strong>Alaska Housing Finance Corporation:<\/strong> Offers emergency rental assistance. Check their website for eligibility requirements.<\/li>\n\n\n\n<li><strong>Alaska Heating Assistance Program:<\/strong> Helps low-income households with home heating costs. Apply through the Alaska Department of Health and Social Services.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Credit_Counseling_and_Debt_Management\">Credit Counseling and Debt Management<\/h3>\n\n\n\n<ul>\n<li><strong>Money Management International:<\/strong> Offers free credit counseling to Alaska residents. Visit their website or call 866-889-9347.<\/li>\n\n\n\n<li><strong>Alaska Legal Services Corporation:<\/strong> Provides free legal advice on consumer debt issues. Visit their website for more information.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Legal_Aid\">Legal Aid<\/h3>\n\n\n\n<ul>\n<li><strong>Alaska Legal Services Corporation:<\/strong> If you&#8217;re facing legal issues related to payday loans, they may be able to help. Visit their website or call 1-888-478-2572.<\/li>\n\n\n\n<li><strong>Alaska Bar Association Lawyer Referral Service:<\/strong> For legal advice specific to your situation, call 1-800-770-9999.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Financial_Education\">Financial Education<\/h3>\n\n\n\n<ul>\n<li><strong>Alaska Division of Banking and Securities:<\/strong> Offers financial education resources and information about payday lending laws in Alaska. Visit their website.<\/li>\n\n\n\n<li><strong>Consumer Financial Protection Bureau:<\/strong> Provides educational resources about payday loans and alternative options. Visit their website.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Complaint_Filing\">Complaint Filing<\/h3>\n\n\n\n<p>If you believe a payday lender has violated Alaska law, you can file a complaint with:<\/p>\n\n\n\n<ul>\n<li><strong>Alaska Division of Banking and Securities:<\/strong> File a complaint online or call 907-269-8140.<\/li>\n\n\n\n<li><strong>Consumer Financial Protection Bureau:<\/strong> Submit a complaint online or call 1-855-411-2372.<\/li>\n<\/ul>\n\n\n\n<p>Remember, reaching out for help is a sign of strength, not weakness. These resources are available to support you in making informed financial decisions and finding alternatives to high-cost payday loans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online Payday Loans in Alaska Payday loans in Alaska are capped at $500 with loan terms up to 14 days.\u2026 <\/p>\n","protected":false},"author":37432,"featured_media":84404,"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\/1666"}],"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=1666"}],"version-history":[{"count":20,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1666\/revisions"}],"predecessor-version":[{"id":87206,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/pages\/1666\/revisions\/87206"}],"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\/84404"}],"wp:attachment":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media?parent=1666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/categories?post=1666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/tags?post=1666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}