Colorado Loan Repayment
What happens if my loan goes into default?
Occasionally circumstances may arise that change your ability to repay. If your loan goes into a default status, Moneytree is committed to collecting your debt in a professional, fair and lawful manner. We follow the Fair Debt Collection Practices Act guidelines when collecting defaulted loans. You will be charged a $25 fee when your check or ACH returns unpaid. We will contact you and ask for payment when your installment payments are delinquent or when your loan is in default. We may refer your account to an outside collection agency. After a loan goes into default status, we may re-evaluate your credit limit. You can reach Moneytree’s Payment Center at 888.516.6643 for more information.
If you receive a call from Moneytree
From time to time, a Moneytree representative may call you at the contact numbers you have provided to talk about a transaction you conducted at Moneytree. The most common reason for this call will be to discuss payment arrangements on an unpaid loan or check. Whenever you receive a call from Moneytree, our representative should be friendly and courteous. We will give you our first name and will be clear about the location we’re calling from and the reason for the call.
You are always welcome to contact our Customer Service Department at 800.745.1011 to confirm the source and validity of the phone call. It is helpful if you have the caller’s name and telephone number so that we can confirm the nature of the call. We will not threaten you with any adverse consequences if you choose to confirm the validity of the call before providing any information.