Annual percentage rate (APR)
The APR on the amount borrowed from the lender is 22%.
For example, for a 500$ credit margin including the capital, membership or renewal fees and interest fees, the total amount reimbursed will be approximately 750$.
Our loyal customers can renew after a grace period to give them time to complete a previous credit margin before the beginning of payment cycles of their new credit margin.
Pay off your credit margin over a period of 90 to 120 days depending on your payroll frequency.
You can repay your credit margin more quickly by making higher payments. You will save on interest.
Missed payments and credit rating
Any missed payment will be postponed to the end of your contract, and will result an insufficient funds fee as stated in the contract. This will have no impact on your credit score with our business. If you need to defer a payment, you must call 48 hours in advance; this will result a deferral fee, and will be added to the end of your contract. Credit margin repaid properly show good will and allow for a hassle-free renewal.
Our company uses responsible collection practices. If you fail to make your payments, our collection agents may terminate your payment plan and use different methods to recover the money owed. Payments that are terminated will accumulate interest on the outstanding balance of your credit margin. The borrower is responsible for all legal fees required to obtain the balance due. The uncollected debts are prosecuted to the fullest extent of the law.
Responsible line of credit policys
All applications are subject to a screening process in order to ensure that the borrower has sufficient income to repay the credit margin. This includes but is not limited to: check that your monthly salary is sufficient to repay the credit margin and qualifies for such a credit margin; you do not have an excessive amount of insufficient funds for expenses in your bank account; you do not have an excessive amount of pre-authorized payments charged to your bank account can interfere with your ability to pay your credit margin on time. If you encounter any of these criteria, your credit margin application will be denied.