SPEEDY CASH Payday Loan Payments Cost Disclosure

Figure: 7 TAC ?83.6007(b)

Speedy Cash

Payday Loan $___20_0_____, _1_2__ Payments Cost Disclosure

Cost of this loan:

Borrowed amount (cash advance)

$ ____2_0_0_.0_0_____

Interest paid to lender

(interest rate: 1_0_ %)

Fees paid to Speedy Cash

$ ____9_.2_1_______ $ ___6_7_2_._0_0_____

Payment amounts (payments due every _____1_4_D__a_y_s_____)

Total of payments (if I pay on time)

Payments #1-#__1_1__ $ ___5_6_._0_0______

(Final) Payment #_1_2_ $ ___2_6_5_._2_1_____

$ ____8_8_1_._2_1____

APR Term of loan

__7_2_9_.8_2___% ___16_8_D_a_y_s_

If I pay off the loan in:

2 Weeks 1 Month 2 Months 3 Months _5_.5_M__o_nt_h_s

I will have to pay interest and fees of approximately:

$__5_6_.7_7____

$__1_1_3_.6_4___

$__2_2_7_.2_8___

$__3_4_0_.9_3___

$__6_8_1_.2_1___

I will have to pay a total of approximately:

$___2_56_._77___ $___3_13_._64___ $___42_7_.2_8___ $___54_0_.9_3___ $___8_8_1._2_1 __

Cost of other types of loans:

Least Expensive

Credit Cards

Secured Loans

Signature Loans

25% $2.04

30% $3.55

89% $13.38

Repayment:

Of 10 people who get a new multi-payment payday loan:

5 will pay the loan on time as scheduled (typically 5 months) 1 will renew 1 to 4 times before paying off the loan 4 will renew 5 or more times or will never pay off the loan.

This data is from 2019 reports to the OCCC.

Pawn Loans

180% $15.00

Auto Title Loans

238% $20.66

Payday

Most

Loans Expensive

370% $30.42

Average APR

Average fees & interest per $100 borrowed over 1 month

Before getting this loan, ask yourself:

Do I need to borrow this money? Can I pay back the loan in full when it is due? Can I pay my bills and repay this loan? Can I afford late charges if I miss a payment? Do I have other credit options?

OCCC notice:

This company is regulated by the Texas Office of Consumer Credit Commissioner (OCCC). OCCC Consumer Helpline: (800) 538-1579, plaints@occc.. Visit occc. for more information. This disclosure is provided under Texas Finance Code Section 393.223.

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