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internet payday loans in alabama

Date: Wed, 01/14/2009 - 11:05

Submitted by anonymous
on Wed, 01/14/2009 - 11:05

Posts: 202330 Credits: [Donate]

Total Replies: 7


Does anyone know are internet pdl legal in the state of alabama?
I have loans with
StarAdvance
City View Cash
Payday yes
ameriloan
Cashcentral
Cashnet USA

I will pay these loans but need to know if i can pay them on my terms if they are illegal then i can pay them on my terms many i have already pay over in fees that should be considered PIF just trying to get my duck in a row i have already secure my checking account by closing it just need a little more info thank you so much this is a wonderful source of information


Hi sinking,

I will need to check on your list. From what I have read pdl's are legal in AL, but I believe they much be licensed. here are the laws:
Quote:


Alabama Payday Loan Laws
Min/Max Term of Payday Loan: 10-31 days
Max Fees and Finance Charges: 17.5%
Maximum Loan Amount: $500
Number of Rollovers: 1 (Rollover)
Outstanding loans allowed at one time: 2
Cool-off period: Next business day after 2 continuous loans repaid
Military Protection: Not specified
Payment Plan: Yes
Limits on collection and presentment: Not specified
Collection fees: One $25 NSF fee; Court costs; Reasonable Attorney's fees
Presentment Limit: Not specified
Penalties: Civil Fines, Suspension or revocations of license; Cease and Desist Order; Criminal
Private right of action: Not specified

Alabama Payday Loan Laws:

After the initial loan period and one rollover with the same customer, the full outstanding amount of the loan is due and payable. If the borrower is unable to repay the outstanding amount in full, the payday lender may offer the customer an extended repayment option of four equal monthly installments of the remaining balance. If there are insufficient funds in a borrower's account to pay a check on the date of presentment, the lender may charge an additional fee.

(Alabama Deferred Presentment Services Act, Title 5, Chapter 18A)


lrhall41

Submitted by dawnlango7 on Wed, 01/14/2009 - 11:25

( Posts: 1147 | Credits: )


I think I found some of your info from a previous thread:
http://www.debtconsolidationcare.com/paydayloan/florida-state-info.html

Here is the breakdown of your companies:
Star Advance - illegal
Ameriloan - illegal
paydayyes - illegal

CashNetUSa - legal
Cash Central - legal
CityView Cash - legal

I believe the 3 companies above are legal, I know that CashNetUSA is. You will need to make arrangements with these companies...


lrhall41

Submitted by dawnlango7 on Wed, 01/14/2009 - 11:47

( Posts: 1147 | Credits: )


I have 2 payday loans with Paydayyes, also Total lending and Astro lending both are out of the Bahamas. Are they legal and able to do business in AL.


lrhall41

Submitted by wbanks88 on Tue, 01/27/2009 - 11:42

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I TOOK OUT A A PAY DAY LOAN ON LINE, THE COLLECTION IS IN CALIFORNIA.WHAT ARE THE ALABAMA LAWS FOR THIS SITUATION?


lrhall41

Submitted by on Thu, 02/05/2009 - 14:58

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