Occasionally circumstances may arise that change your ability to repay. If this occurs, you have options.
In certain cases, you may renew the terms of your loan by paying the additional fee to extend the loan due date until your next payday. The renewal may occur prior to the time your loan check is sent to the bank or your electronic transaction is deposited. You may extend the term of your loan a maximum of three (3) times. After that time, the loan must be paid in full.
You may request a payment plan to set up payment arrangements to repay the loan in at least four (4) equal payments for at least 60 days. You may enter into the payment plan anytime during the term of the loan, up to 3pm Pacific Time / 4pm Mountain Time on the due date. There is no fee to enter into this payment plan. Payment due dates will be timed with your paydays. We will not begin collection activities while your payments are made as agreed. During the payment plan period, you will not be eligible to take out another Moneytree loan. You will be in default on your payment plan if you fail to make any payment as agreed. If you default on your payment arrangements, the total unpaid balance will be due immediately and you will be charged a default fee as follows:
• Payday Loan – $20
• Loan without a Checking Account – $12.50 or 5% of the unpaid amount, whichever is greater, after the loan has been delinquent 10 days.
Restructuring your loan payments may affect your credit limit with us in the future. Additional details about this option are available at any Moneytree branch or by contacting our Customer Service Department at 800.745.1011.