What is the difference between revolving and installment loans?
An installment loan adds the interest to the balance of the loan up front whereas a revolving loan accrues the interest throughout. A revolving loan can save the consumer money in finance charges.
What is the interest rate?
APR = 24% or 2% per month
If I pay my balance off early, are there penalties?
No. On the contrary, the interest accumulates daily so the sooner you pay it off the less interest you pay.
When will I receive statements?
Generally, statements arrive 10-15 days prior to your payment due date. If you have not received a statement, please contact the JLS office so that you can arrange payment.
When is my payment due?
Payments are due typically 30-45 days after your contract date. Due dates can vary so please refer to your contract or contact the JLS office.
What is my monthly payment?
Your minimum payment is stipulated on your contract. It is a percentage, typically 10%, of the initial financed balance.
Will my monthly payment always be the same?
As long as you make your payments on time, your payment will remain the same.
How do I make a payment?
Mail check or money order
Credit card
ACH - automatic withdrawal
Tired of writing checks and buying stamps?
We can set up an automatic debit from your checking account or credit card. Just call to set it up!
What credit cards do you accept? Visa, Mastercard, American Express and Discover.
What is the grace period for payment?
The grace period is 10 days after your due date, then you will incur a late fee.
What is the late fee?
Ten dollars
What if I cannot make my payment?
It's important to stay current with your account and maintain good credit. However, we understand economic hardships come about. Please call us and we will do our best to accommodate your situation. |
