Idaho Alternate Payday & Loans Without a Checking Account Loan Repayment Options
Thank you for choosing Moneytree as your short term credit solution. We know that it is your intention to repay your loan on the due date. Occasionally, however, circumstances may arise that change your ability to repay. Below you’ll find information about the payment plan option available in Idaho through Moneytree.
What Are My Payment Options?
In certain cases, you may renew the terms of your loan by paying an 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. If you contracted for cash payments, you may extend the term of your loan by paying the additional fee at any time prior to the close of business on the loan due date. You may renew your loan a maximum of three (3) times. After that time, the loan must be repaid in full.
You may request a payment plan to set up payment arrangements to repay the loan in at least four (4) substantially 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 charge to enter into a 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. Restructuring your loan payments may affect your credit limit with us in the future. 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
What Happens If My Loan Goes Into Default?
If your loan goes into a default status, Moneytree is committed to collecting your debt in a professional, fair and lawful manner. We follow applicable provisions of the Fair Debt Collection Practices Act when collecting defaulted loans. You will be charged a one-time $20 fee if your check or ACH returns unpaid. For loans made without a check, Moneytree extends a ten (10) day period during which your loan may be repaid in full at no additional cost. If the loan remains unpaid, you will be charged $12.50 or 5% of the amount of the loan, whichever is greater. We will contact you and ask for payment in full, and we may make reasonable repayment arrangements with you. We may refer your account to an outside collection agency. We may evaluate your credit limit if your loan is not paid as agreed. 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.