Interest-Free Payday Loan Refinancing. LSS Financial Guidance

Interest-Free Payday Loan Refinancing. LSS Financial Guidance

Exodus Lending is really a helping that is nonprofit break out the cycle of predatory loan services and products such as for example pay day loans, car name loans, and high-interest online installment loans.

Exodus Lending is a 501()( that is c) nonprofit that refinances predatory loan financial obligation for Minnesota residents. We assist families and folks get rid through the period of short-term, high-interest loans. This financial obligation cycle hinders individual well-being that is financial well as deters the quest for any economic future outside of settling debt. By giving debt that is predatory through a reasonable and manageable payment plan, people can regain control of their finances and commence the road toward monetary security.

We provide as much as $1,000 to qualified participants to ensure the cycle can be broken by them to get away from predatory financial obligation. In the event that you or somebody you understand requirements assist with pay day loans, vehicle name loans, on the web installment loans, or any other predatory product, contact us at 612-615-0067 ext. 3.

Get in touch with Exodus Lending on the internet site or call 612-615-0067 & inform us regarding the current loan(s). We are going to must know the business or businesses which you have actually the loan(s) from, the second date you have to spend, plus the quantity needed seriously to spend your loan off in complete.

We shall make use of you to setup an appointment that is one-on-one our system coordinator, Anna. In this visit, she’s going to walk you through our refinancing documents, create deposit/ACH that is direct, and begin a payment plan. Repayment is finished 12 months, with changes available as required. Appointment slots can be obtained during company hours with a few availability as well evening.

After your enrollment visit, Exodus Lending can pay down your predatory loan in complete. Your repayments to us will start within 45 times after your visit. Exodus Lending charges 0% interest and $0 in finance charges within the life of the mortgage. Make on-time payments that are monthly Exodus Lending to be eligible for incentives and boost your credit rating. Set a meeting up having an authorized economic counselor and refer others trapped within the financial obligation period to be eligible for additional bonuses. an optional check-in meeting is provided about halfway through this system.

Upon the payment that is final Exodus Lending, you are going to receive a page showing you have compensated the mortgage off in complete. Finish the enclosed graduate survey and mail it right right back, or fill it away online. Afterwards, please leave Exodus Lending an assessment on your own favored platform (Yelp, Bing, Twitter, Bing, etc).

Assist other people by sharing your Exodus Lending tale. Your testimonial may help us advocate for modification, find participants that are new and acquire contributions. We additionally encourage you to definitely inform your family and friends users about Exodus Lending. Keep pace with Exodus Lending emails to keep included even as we battle for the 36% rate of interest limit during the legislature.

Helpful Resources

We notice that our system acts a certain need and that there is certainly a wide array of economic emergencies that we can’t deal with. Please take the time to scan this range of other nonprofit resources or install this list of options.

LSS Financial Counseling provides free economic guidance and a number of different solutions and resources for folks trying to resolve their financial obligation and attain wellness that is financial.

Family Means

Family Means offers free counseling that is financial other monetary solutions through its credit rating Counseling provider.

Prepare + Prosper

Prepare and Prosper provides free taxation planning, affordable banking items, and coaching that is financial.

FAIR is definitely an available bank account which includes checking and savings accounts on the internet and by way of an app that is mobile.

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