Payday Loans in Birmingham
Deffered presentment companies in Birmingham operate under Alabama law and local ordinance.
Payday loan local law in Birmingham
As a response to the growing payday loan market in Birmingham City, the zoning law was passed. The main limiting factor is the limitation of the location of the storefront within a radius of 2000 feet from another store.
Birmingham Payday Loans Timeline News
- Sept 2011, New zoning ordinance was introduced to Council;
- 2012, Harvest Community Church asked lawmakers to limit payday loans storefronts;
- Dec 2013, The zoning ordinance was passed;
- Jan 2019, Councilwoman Lashunda Scales offered a new ordinance to control the no credit check payday loan business, she also said about opening new financial possibilities from banks.
Birmingham Payday Loans Stats
- In the 2013 year, 90 payday loans outlets in the City;
Birmingham Residents Debt-to-Income Ratios
Birmingham residents have 637 median credit score and
the average number of late payments is about 5.72.
Below represented DTI (Debt-to-Income) ratios shows how Birmingham residents debts stacks up against their income.
As of 2020.
Credit Card DTI
Car Loan DTI
Student Loan DTI
Birmingham Residents Financial Statistics
Below represented statistics is for Birmingham,
Jefferson County, Alabama.
As of 2019.
Median age of Birmingham's residents, years
Labour force participation rate, %
Unemployment rate, %
% of residents with no health insurance
Median individual income, USD
Median household income, USD
% of households with income under $35,000
% of households with income $35,000 - $75,000
% of households with income $75,000 - $100,000
% of households with income over $100,000
% of households that own their residence
Median home value owned by residents, USD
Median rent cost, USD
Some official sources of data we used to build this page: