Truth In Lending Disclosure Statements

Federal law requires lenders to provide to loan applicants which discloses all the costs associated with making and closing the loan. These costs include the annual percentage rate, finance charges, amount financed and total payments the borrower will make over the term of the loan.

Annual Percentage Rate

Finance Charge

35.6% if loan extends 6 months

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$49.00 loan processing fee

upon approval

$178.00 if loan takes 6 months

to pay

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$0.00 if paid within 30 days

Amount Financed

$500.00 

Total of Payments

5 $120.00 monthly payments

$ 110.00 last payment if customer wishes to pay in installments.

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$7.00 processing fee per monthly payment

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Total: $710.00

Collection fees may apply on default of loans.