Nevada Alternate Payday 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 Nevada 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 prior to the close of business on the loan due date. You may renew your loan a maximum of four (4) times, but for no longer than 60 days after the original loan's due date or 90 days after the original loan's origination date, whichever is shorter. At the time that your fourth renewal is due, or if the applicable time period has expired, you must repay the loan in full.
CFSA Extended Payment Plan: As a member of the Community Financial Services Association of America (CFSA), Moneytree offers the CFSA Extended Payment Plan. You may request a payment plan to restructure the payment terms to at least four (4) substantially equal payments. You may choose this option once per 12-month period. There is no charge to enter into the CFSA Extended Payment Plan. You must choose this option prior to the deposit (or default) of your current loan. Additional details about this option are available at any Moneytree branch or by contacting our Customer Service Department at 800.745.1011.
When collecting any consumer loan that is not paid as agreed, if Moneytree commences civil action, the process of alternative dispute resolution, or repossessing a vehicle, you will be offered the opportunity to enter into a statutory repayment plan pursuant to NRS 604A.475.
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 $25 for each returned check or ACH.
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 or take civil action to collect the debt including repossess any collateral securing the loan. 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.