Alabama Auto Title Loan Resources
For Alabama, you must generate a Loan Denial Report and Litigation Logs required by the state. Burrell Printing has the forms in addition to pre-programmed forms included in the offerings of several auto-title loan software packages.
Title lending is considered a pawn transaction in Alabama; a very friendly state for title loans.
In 1993, the Alabama Supreme Court held that title loans fall under the Alabama Pawnshop Act and are NOT subject to usury restrictions.
Pawnbrokers may charge up to 25% of the principal amount per month amounting to a 300% APR .
In late 2006, a St Clair Circuit Court, Judge Charles E. Robinson, struck down a portion of the AL Pawnshop Act thus throwing into limbo the ability of pawnshops to charge more than other lenders. This cannot take effect until the AL Supreme Court makes a ruling. TitleMax with 100 plus stores in AL is funding the court case according to Jack Robinson, CEO.
Alabama Auto Title Loan
Alabama APR Calculating
Alabama Credit Release
Alabama Criminal History
Alabama Pawn Shop Instructions
Alabama Pawn Shop Original Application
Burrell Sample Application