Let me make it clear about Alabama’s Payday Loan Law

Let me make it clear about Alabama’s Payday Loan Law

Laws Against Cash Advance Collection

Alabama legislation defines pay day loans as deferred presentment deals. The financial institution takes a check that is personal the debtor, and as a result provides the debtor money beforehand. State legislation regulates the terms under which pay day loans might be negotiated.The Alabama State Banking Office oversees cash advance businesses, which must enable a agent from that workplace usage of its company documents.Continue reading