HOW IT WORKS

How it works

Learn more about the products that Liberty Loans offers at your local stores.

At Liberty Loans, we offer two main loan products: Installment Loans and Auto Equity Loans. We do not offer online lending or disbursement of funds electronically into an account. To obtain a loan you will need to visit one of our convenient locations and apply in person or you can call a location directly and begin your application process.

Overview of Installment Loans

An installment loan is a loan that is repaid over time with a set number of scheduled payments. A mortgage loan, for example, is one type of installment loan.

At Infinity Loans, we offer two different installment loan products: Secured (by a car title) and unsecured. Secured loans generally have lower interest rates than unsecured loans, and also carry a lower annual percentage rate (APR). That is because we may have the right to repossess the car if there is a default on a secured loan.

Depending on the state you apply for a loan in determines the type of credit Infinity Loans utilized for the approval process. At Infinity Loans, we pull your FICO score. Infinity Loans may not require as high of a credit score as a typical bank would. Infinity Loans does report back to the credit bureaus on time and past due payments, allowing you the potential of increasing your credit score as long as payments are made on time.

You may be able to borrow up to $25,000, depending on your income, various underwriting criteria, and state laws.

Simply bring in a clear title with your name on it and a form of identification. We accept many types of identification: Driver’s License, Identification Card, Out of State ID, Mexican Matricula Card, Passport, or Government photo ID. We also accept many types of titles, including original titles, certified copies, salvage titles, and titles that have released liens signed off by another lender on the front. You will also need proof of income, residence. Infinity Loans may require a bank account on loans over a specific amount. If you bank online you can use our simplified verification system and avoid the hassle of paperwork. With this system, the only thing you need is the title and bank account information.

Liberty Loans offers a variety of convenient ways to pay on your loan. You may choose which way works best for your busy schedule. You may elect to have a transfer of funds initiated from your bank account on the day the payment is due (ACH) or you may choose to bring in your payments to a local branch. Payments in the branch are accepted in Cash, Certified funds and now through a Debit Card. We do not accept debit cards over the phone for your protection, as our calls may be monitored and recorded for quality assurance.

You will receive your approved loan amount in a check at the time of approval in store.

Installment loan payments will generally be due on consecutive pay periods, and the term (length) of the loan will vary by state. You will be informed of the payment due dates and amounts if your loan is approved.

Failure to make a timely payment on your loan or credit services transaction can have several consequences, including the following:

 

Financial Implications – Past due interest is assessed on any loans you may obtain from us or that we may arrange for you (terms and conditions are described on your contract and vary by state). You may be assessed a late fee if you fail to make your payment by a specified period following its due date, and you may be assessed a returned item charge if any check or electronic payment we submit on your behalf is returned unpaid (late fee and returned item fees vary by state – see your loan agreements for additional details).

Collection Activity – We may attempt to collect any delinquent amount through our standard collection practices, which include contacting you by phone, mail, SMS or email. We may also exercise any of our rights under our loan or credit services agreements with you. See your loan agreement for full details.

Impact on Your Credit Score – Impact on your credit score varies by state. Please contact or visit one of our convenient locations for further details

Renewal of your Loan – We do not automatically renew any of our loans or credit services transactions. Where refinances or renewals are available (varies by state), you may apply for a refinance or renewal of your loan or credit services transaction by visiting your local branch prior to your due date and applying for a renewal or refinance. In connection with any renewal or refinance, you will be required to sign new loan agreements for such renewed or refinanced transaction, and our standard rates for loans or credit services transactions will be assessed on such renewal or refinance (varies by state – see posted fee schedules in your local branch).

How do I cancel the loan?

Online: To cancel the loan, you must deliver the proceeds from your loan in cash or certified check within 24 hours, or by close of the next business day, the greater of which is deemed by state law.

All loans subject to approval pursuant to standard underwriting criteria. Not all consumers will qualify for a loan or for the maximum loan amount applied for. High-interest loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any high-interest loan transaction.

Auto Equity loans include different product terms and subject to different underwriting criteria.

Our credit decision on your application may be based in whole or in part on information obtained from a national database.

Teletrack:
155 Technology Parkway, Suite 800
Norcross, GA 30092,
1-877-309-5226.