The APR on the amount borrowed from the lender is fixed at 32%. With the transactions fees of 0.50 it can add up too 34.4%.
Returning customers may renew after a grace period to give them time to complete a previous loan before payments their new loan begin.
You can payoff your loan faster by making larger payment. You will save on interest.
Missed Payments and credit score:
Any payments that are missed will be put to the end of your contract with a $40 insufficient funds charge as is stated in the contract. This will not impact your credit score with our company. If you need to postpone a payment, you must call us 48 hours in advance, it will be put to the end of your contract with a $25 fee. Well paid loans assure great service and renewing your loan is always hassle free.
Our company uses fair collection practices. If you fail to make your payments, our collection officers may terminate your installment plan and employ different collection methods to recuperate the money that is due. Installments that are terminated will collect interest on the unpaid balance of your loan. The borrower covers any legal fees required to obtain the balance. Any uncollected debts are pursued to the full extent of the law.
Policy regarding responsible lending:
All applications are submitted through a filtering process to ensure the borrower have sufficient income to repay the loan. This includes, but is not limited to: verifying that your monthly salary is sufficient to repay the loan and qualifies for such a loan. That you do not have an excessive amount of insufficient fund charges in your bank account. That you do not have an excessive amount of preauthorized payments posted to your bank account that would interfere with paying your loan in a timely manner. If you do not meet any of these criteria, your loan application will be refused.
Please borrow responsibly. We are offering you a way to help in a difficult time. However, the interest rate is higher than the rate of local banks. They should only be taken when you have no other options for financial assistance and should be used as seldom as possible. When taken seriously it may be the right answer for you. However, taking on many short term loans at the same time could result in serious financial problems and an overbearing debt.