Although Washington’s payday lending laws changed, the service you’ll receive at Moneytree remains the same. Beginning January 1, 2010, Washington customers can take out a Moneytree Payday Loan and have up to 45 days to repay their loan!
How did Washington’s Payday Loan Law Change?
- YOU ARE PROHIBITED BY LAW FROM ENTERING INTO MORE THAN 8 PAYDAY LOANS FROM ALL LENDERS WITHIN THE STATE (including Internet lenders) IN ANY 12-MONTH PERIOD.
- YOU ARE PROHIBITED BY LAW FROM TAKING OUT A PAYDAY LOAN IF YOU ARE IN A PAYMENT PLAN WITH ANY LICENSED LENDER.
- YOU ARE PROHIBITED BY LAW FROM TAKING OUT A PAYDAY LOAN IF YOU HAVE AN UNPAID DEFAULTED LOAN THAT IS LESS THAN TWO YEARS OLD.
- YOUR INFORMATION WILL BE REGISTERED IN A STATEWIDE DATABASE TO ENSURE THAT ALL PAYDAY LENDERS HAVE YOUR MOST UP TO DATE LOAN INFORMATION AND THAT THE PROHIBITIONS LISTED ABOVE ARE ENFORCED.
- PAYMENT PLAN. Washington law gives you the right to opt into a no-fee payment plan to repay your payday loan at any time, prior to the date and time that your current loan is due. If the amount you owe us is $400 or less, you’ll have at least 90 days for repayment. If the amount you owe us is more than $400, you’ll have at least 180 days for repayment. A payment plan will allow you to pay all that you owe without having to pay any additional fees, interest charges or other charges for converting your small loan to a payment plan.
The 45 Day Moneytree Payday Loan!
Stretch out your loan payment with a Moneytree Payday Loan! Apply online or at any Moneytree branch and take up to 45 days to repay!
- Receive the same one-time loan fee and take up to 45 days to repay.
- Have your loan instantly deposited onto a Moneytree Cash Solution Card.
- Apply online and receive approval in as little as 60 minutes.
- Pick up your loan funds as soon as your loan is approved at any Moneytree branch!
Questions About the Payday Loan Law?
If you have questions about payday lending or have a complaint against a payday lender, please contact the Department of Financial Institutions toll free at 877.RING DFI (1.877.746.4334) or 360.902.8700. You may file a complaint on the Internet at http://dfi.wa.gov/cs/complaint.htm, by mail to Department of Financial Institutions Attn: Complaints, PO Box 41200, Olympia, Washington 98504, or by fax to the Department of Financial Institutions, 360.596.3868, or by delivery to 150 Israel Road SW, Tumwater, Washington, 98501.
The table below provides examples of typical loan terms across a representative sample of single-payment loans offered by Moneytree.
Payday Loans | Contact Your Legislator | Contact Us | Apply Online | Washington State Legislature
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