Loan PolicyAt 1st Choice Money Center we strive to be the best consumer lending company around. We offer affordable rates and terms that best meet your needs.
Late fee rates in Utah: $30
Implications of non-payment including financial implications: $30 late fee for non-payment, also possible small claims legal action taken, along with court costs. Interest rates are not raised.
Collection practices: Our collection efforts are done in house, we do not use a third party collection agency.
Potential impact to users' credit score: We do not report to the main credit reporting agencies. We use a report called Teletrack to see if customer has other similar loans.
Renewal policy information, including if the renewal is automatic and if there are fees associated with renewal: We do not offer payday loans where renewals are the norm. We offer installment loans with installment payments that pay down principal and interest with every payment. Customers have the option to refinance their loan if they'd like, in which case, there are no extra fees.
All repayment terms and conditions: Payment terms are set up biweekly, semimonthly, or monthly. Payments are due on the payment schedule due date. Each payment goes towards interest and principal to pay down the loan. See contract for full list of repayment terms and conditions.
Monthly or biweekly interest rates: Monthly rates range from 16%-45%
Call us today to lock in the best rate possible!