Maximum Loan Amount: $500
Loan Term: 10-31 days
Maximum Finance Rate and Fees 17.50% for initial loan; 3% per month after default
APR for 14-day $100 loan: 456.25%
Maximum Number of Outstanding Loans at One Time: No limit but max loan amount is $500.
Rollovers Permitted: One
Cooling-off Period: Next business day after 2 continuous loans repaid
Repayment Plan Required? Yes
Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check
Criminal Action: Prohibited (Unless check returned due to closed account)
Still have questions or need assistance? Contact: Alabama Banking Department
P.O. Box 4600
Montgomery AL 36103
Fax: (334) 353-5961
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.