Editor's choice: Check Into Cash Payday Loan
- No application fees
- Loans up to $1,000
- Receive funds as soon as next business day
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It’s easy to misstep and end up in a sticky financial situation. Whether it’s a car repair, an emergency bill or just needing help getting to the next paycheck, a short-term loan, also known as a payday loan, may be a viable option.
Our guide on payday loans in Alaska should help you make the right decision for you.
Payday loans are legal in Alaska.
Alaska statute 06.50.010 et seq. presides over the functioning of all payday lenders. Lenders that provide short-term loans must have a valid business license and are required to have individual licenses for every physical location or website they use to conduct business.
Here are some quick facts about payday loans in Alaska:
Alaska law gives you the right to cancel a loan at any time before the close of the next business day.
Check the websites of any providers you’re interested in to confirm they operate in your state.
Here’s what you can expect to be charged on your loan:
There are various reasons that residents of this state seek short-term loans, which include:
Put simply, if you’ve had trouble being approved for a traditional loan in the past because of bad credit or long eligibility criteria, a short-term loan could be for you. Before you apply, read on to learn about important considerations first.
It’s impossible to predict a financial emergency. If you have bad credit, it can be hard to find quick money. Although payday loans are known for their high interest rates, they can be an easy way to make it between checks when a crisis hits. Keep in mind, though, that people often find themselves stuck in a spiral of debt. To avoid this, only borrow what you need and be sure to understand how much the total loan will cost by reading about the fees charged below.
Alaska has some temporary assistance programs that can help you afford your bills while you work on paying down your debt. Look into the Alaska Temporary Assistance Program (ATAP), Heating Assistance Program (HAP), Food Stamp Program and the General Relief Assistance (GRA) program if you’re not sure where to start.
Although every lender has different criteria it considers when determining your eligibility, you should meet the following before applying:
You’ll also need to provide some personal information, such as your Social Security number and your bank account details. This is why it’s important to compare your loans before and vet lenders before you apply.
If you’re considering taking out a payday loan, do your research. Our page on payday loans will teach you everything you need to know about the process.
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