PaydayLoan.Help
Menu

Alaska · checked October 24, 2026

Payday loans in Alaska: the rules and your way out

Payday loans allowed, with limits

Alaska licenses payday lenders ('deferred deposit advance' lenders) under AS 06.50, allowing advances of up to $500 outstanding per lender for at least 14 days at up to $15 per $100 plus a $5 origination fee; a 2025 bill to cap them at 36% APR (SB 39) was vetoed.

Law: Alaska Stat. §§ 06.50.010 to 06.50.900; 3 AAC 11. Alaska Statutes 2025 edition on akleg.gov, read 2026-10-24; SB 39 (34th Legislature) shown as 'VETOED BY GOVERNOR 6/24/25' on akleg.gov

Alaska's rules, line by line

Largest loan
A licensee (including all its locations) may not have more than $500 outstanding in advances to one recipient at a time (AS 06.50.410).
Shortest term
14 days (AS 06.50.440); renewals also at least 14 days (AS 06.50.470(a)).
Longest term
No maximum term stated in AS 06.50.
Fee or rate cap
A nonrefundable origination fee of not more than $5, plus a fee not exceeding $15 for each $100 advanced or 15 percent of the total advance, whichever is less (AS 06.50.460(a)); no other fees except a bad check fee; fees may not be prorated.
Renewals and rollovers
A licensee may not renew an advance more than two consecutive times, after which it must require repayment in full (AS 06.50.470(b)); renewal fees capped at the AS 06.50.460(a) fees.
Waiting period between loans
No waiting period between loans found in AS 06.50.
Loans at once
No count limit; $500 total outstanding per licensee (AS 06.50.410), and a licensee may not let a borrower split an advance or hold more than one advance at a time to generate extra origination fees (AS 06.50.420). The statute's $500 limit is per licensee, not across all lenders.
Payment plan if you cannot pay
Yes, after default. Before sending the debt to a collector or suing, the lender must try in good faith to contact the borrower and must offer a payment plan lasting up to six months, with at least 5% of the balance due at signing and no added fee except a bad check fee; it must also send a certified letter making that offer at least 15 days before suing (AS 06.50.550(a)). Ask the lender for the AS 06.50.550 payment plan once you are behind.
State loan database
No state payday loan database found in AS 06.50 or 3 AAC 11.
Limits on collection
Lender may not threaten criminal action for default (AS 06.50.560), and the required disclosure must state that no criminal action may be brought for failure to pay (AS 06.50.510(b)(9)). Bad check fee limited to the fee in AS 09.68.115(a)(2) (up to $30). In a lawsuit, all damages and costs may not exceed the payment amount by more than $700, and only if the lender first offered the payment plan (AS 06.50.550(b)). Fees on a returned payment may be collected only if disclosed in the agreement (AS 06.50.540). The agreement may not waive Fair Debt Collection Practices Act rights (AS 06.50.400(c)); 3 AAC 01.210-.220 debt collection rules apply (3 AAC 11.120). No collateral may be taken (AS 06.50.430).
Other rights
Right to rescind without cause by the close of business on the next business day by returning the principal in cash or immediately available funds; only the $5 origination fee is kept (AS 06.50.480). Lender may not require mandatory arbitration (AS 06.50.490). Lender may not accept payment of an advance from the proceeds of another advance from the same licensee (AS 06.50.530(c)).

If you are behind on a payday loan in Alaska

  1. Ask for the payment plan before the due date. Alaska law gives borrowers a way to repay in installments. The details are in the table above. Ask in writing and keep a copy.
  2. Stop the automatic withdrawals if they are emptying your account. You can revoke the lender's permission to debit your account and tell your bank. How to do it.
  3. Look at a credit union payday alternative loan. Federal credit unions can lend $200 to $2,000 at much lower cost. How they work.
  4. Talk to a nonprofit credit counselor. A counselor can look at all your bills, not just this one. How to find a real one.

Check a lender, or report one

Sources

This page summarizes the law; it is not legal advice. Laws change, and the statute and regulator control. If something here is out of date, write to hello@paydayloan.help.

You do not have to sort this out alone

A nonprofit credit counselor can look at the whole picture with you.

Ask for help