Idaho Rates

'* All loans will incur an additional $15 origination fee to be paid after loan approval

ADDITIONAL TERMS AND CONDITIONS-READ CAREFULLY

• You agree to work with Phoenix Loans L.L.C electronically.
• Payment Schedule: These are one (1) payment loans. The payment of your loan amount plus interest is due on the payment due date.
• Prepayment: If you pay off your loan early, you will not have to pay a penalty, nor will you receive a refund of any part of the Finance Charge.
• Security: None. We may not accept any collateral in connection with a deferred deposit transaction.
• Loan Cost: The cost of a loan is $30.00 per $100 borrowed PLUS $15.OO origination fee per loan for a total of $45. The cost is clearly disclosed to you in your loan contract in terms of the Annual Percentage Rate (APR) and the total amount to repay according to the Federal Truth in Lending regulations.
• Term of Loan: Minimum 8 Days- Maximum 36 days. The term of your loan will be determined by your pay period.
• Loan Limits: Idaho permits loans of up to $1000 or 25 % of the borrower's monthly gross income. Phoenix Loans LLC offers loans up to $500.
• Late Fees: If you default on the payment plan, you will be charged a default fee of $25.00 (Twenty-five dollars).
• No Criminal Prosecution: You cannot be criminally prosecuted or threatened with criminal prosecution for purposes of collecting a deferred deposit obligation.
• Extended Payment Plan: You have a one-time right during any consecutive twelve (12) month period to convert this loan/a payday loan into an extended payment plan at no additional costs.
• Terms of Extended Payment Plan: An extended payment plan must be timely requested by the borrower and involves no extra fees if timely requested. Extension requests MUST be received by 12 pm (Noon) pacific time on the business day before your loan is due. The extended payment plan may be requested by the borrower only ONCE PER 12 MONTH PERIOD. The extended payment plan allows the borrower to repay the loan over a 60 day period in four equal payments. When your extended loan becomes due, we will electronically deduct the loan amount and the accrued interest from your bank account.
• Renewal of Loans: A borrower cannot renew a loan more than three (3) consecutive times. After three (3) renewals the loan must be paid in full before another loan is extended. Additional fees will be paid by borrower at the rate of is $30.00 per $100 borrowed PLUS $15.OO origination fee per loan for a total of $45 for the renewal of the loan. For each renewal we will terminate the loan agreement and sign a new agreement. You may request a renewal by emailing us at info@phoenixloans4u.com prior to 12 pm (Noon) pacific time on the business day before your loan is due.
  • A borrower will be required to pay additional fees if this loan is renewed rather than paid in full when due
• Collection Fees (Non Judicial)--NSF ACH Fees: $20 NSF ach fee plus 12% interest per annum on the unpaid amount. We are allowed 2 (two) attempts to collect.
• Your right to Rescind (Cancel) This Loan: The borrower has the right to rescind this loan at no cost no later than the end of the next business day (5pm Pacific Time) following the day on which the loan was made by paying the principal amount of the loan back to Phoenix Loans LLC. To rescind your loan you must email us written notice of your intent to rescind, along with written authorization to effect a debit entry to your Bank Account for the principal amount of the loan.
• Federal and State Laws : Phoenix Loans LLC complies with all applicable Federal and State laws and regulations including but not limited to, Truth in Lending Act (TILA), Electronic Fund Transfer Act (EFTA), Fair Credit Reporting Act (FCRA), Gramm-Leach-Bliley Act (GLBA) and Equal Credit Opportunity Act (ECOA).