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Extension of Payment Policy

Our service provides customers with a short term solution for those who find themselves needing extra cash until payday. We do not want this to become a long term obligation for you. 

This policy will enable you to reduce your balance owed, with each of the four submitted extension of payment request allowed. 

Effective 04/29/05

EXTENSION OF PAYMENT REQUEST POLICY FOR ALL CUSTOMERS

AmeriCash Advance, under the State of Delaware regulations, will allow you to extend the repayment date of your original cash advance under the following terms.

Four (4) extensions of payment are allowed. The extension of payment fee is $20 per $100. If you would like to pay an additional amount (In even $100 increments) with the extension of payment fee, to lower your current balance and subsequent fee due on your next scheduled pay date (within maximum of 18 days), you may do so.

Example:

An additional $100 paid (with the extension fee) will reduce your principal balance by $100  AND subsequently, your advance fee will be reduced by $20 on your next scheduled pay date!

An additional $200 paid (with the extension fee) will reduce your principal balance by $200  AND subsequently, your advance fee will be reduced by $40 on your next scheduled pay date! (etc...etc...)

By doing this, you will have your advance paid faster with less fees!

To pay an additional amount with your extension of payment fee, simply type your request in the customer comment box at the bottom of the extension request form.

If you elect to only pay the extension of payment fee without reducing current balance, the extension of payment fee will remain constant, and not be reduced. You will still owe the original advance amount and original advance fee on your next nearest scheduled pay date.

After we have received and processed the allowed (4) four extension of payment requests, any further submitted extension of payment requests are processed in the following manner. Beginning with 5th or more submitted extension of payment request, we are required under Delaware regulations and authorized by you to debit the fee portion and an additional minimum 10% of advanced balance owed. The additional 10% payment, (above fee portion) will be applied to your existing current advance balance reducing your principle balance owed with each additional submitted extension of payment request until the current advance is paid in full.  

NOTE: Beginning with the 5th submitted extension of payment request, the fee portion of payments will only decrease (with each $100 reduction of principle balance) until the total cash advance loan is paid in full.

* Extension of payment fee requests must be received by 11AM EST on the business day prior to your original payment due date. 

*5th extension fee equals an APR of 608.330

6th extension fee equals an APR of 803.000

7th extension fee equals an APR of 1216.670

8th extension fee equals an APR of 2433.330

Remaining balance owed will be debited on next pay date after the 8th extension.



DISCLOSURE NOTICE: This service and website does not constitute solicitation to provide short term/ payday loans/ cash advance loans. The application is for a matter of convenience and is not an offer to make a loan. Payday loan cash advance service or fast cash loans may or may not be available in your particular state. We are a Delaware based lender. If you submit this loan application to us, we will receive and process it, the same as if you submitted it to us in person. We only make loans through our operations in Delaware. If we approve your application, the funds will be disbursed from our account in Delaware. Our loans are governed by Delaware law. Delaware consumer loan agreements may differ from the laws of the state where you reside. Applicant is responsible for complying with all statutory obligations regarding obtaining loans by internet that may exist in their state of residence. If it is not your intent to enter into a loan agreement subject to Delaware law, you should apply for this loan with a lender located in the state where you live.

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