TENNESSEE DEFERRED PRESENTMENT
NOTICE: FEES FOR DEFERRED PRESENTMENT TRANSACTIONS MAY BE SIGNIFICANTLY HIGHER THAN FOR OTHER TYPES OF LOANS.
Maximum Fee: The most that any Deferred Presentment provider may charge for Deferred Presentment transactions is 15% of the face amount of the check. The following table illustrates Money Matters fee structure:
| Loan Amount | Fee Amount | Total of Payments (1 pmt) | APR for 14-Day Term |
| $100 | $17.50 | $117.65 | 460.08% |
| $125 | $22.06 | $147.06 | 460.08% |
| $150 | $26.47 | $176.47 | 460.08% |
| $175 | $30.88 | $205.88 | 460.08% |
| $200 | $35.29 | $235.29 | 460.08% |
| $225 | $39.71 | $264.71 | 460.08% |
| $250 | $44.12 | $294.12 | 460.08% |
| $275 | $48.53 | $323.53 | 460.08% |
| $300 | $52.94 | $352.94 | 460.08% |
| $325 | $57.35 | $382.35 | 460.08% |
| $350 | $61.76 | $411.76 | 460.08% |
| $375 | $66.18 | $441.18 | 460.08% |
| $400 | $70.59 | $470.59 | 460.08% |
| $425 | $75.00 | $500.00 | 460.08% |
No other fees may be charged for these transactions unless the provider must go to court to enforce payment of this loan, then you may be assessed court costs and attorney’s fees. You cannot be arrested or sent to jail for passing a “worthless” deferred presentment check unless the check was returned due to an account closed prior to the day of the loan.
Maximum Loan Amount: The law limits the maximum loan amount that any one borrower may have with one provider is $425, either singularly or two loans combined with any one provider.
The most that a borrower may have in outstanding Deferred Presentment loans is 3. The Agreement provides for attestation that you do not currently have 3 or more outstanding checks in the state of Tennessee.
Term: Deferred Presentment transactions cannot be made for a term of more than 31 days.
Renewal: Your transaction is due on the maturity date. You may obtain another transaction once this one is paid-in-full.
Customer Agreement: You must be given a copy of the provider’s Deferred Presentment Services Agreement. You have the right to read the Agreement before you sign it. You have the right to ask questions of the provider’s staff until you thoroughly understand everything in the Agreement. You also have the right to walk away from the Agreement before you sign it.
Complaints: Money Matters is a licensed Deferred Presentment provider in Tennessee. To report any unresolved problems with Money Matters, contact the Department of Financial Institutions, Attn: Consumer Resources Division, 312 Rosa L. Parks Avenue, 26th Floor, Nashville, TN 37243 Telephone: ( 800) 778-4215
