Repayment of loan
Your loan agreement stipulates that any remaining balance as of the final due date will be automatically repaid. You permit the company to start deducting payments from your Cash App stored balance from that balance whenever there are funds available as of the final due date. If there are insufficient funds for payment on a loan, the app will initiate a second attempt to transfer money. After that, your debit card will be linked as a funding source.
A $5 late fee will be charged if an installment payment is not made by the due date specified in the Payment Schedule and is not made for a period of seven days beyond the due date. It will accumulate on a weekly basis up until the payoff amount is fully paid.
Early payoff
You are always free to prepay your debt in full or in part. There are no fees or penalties. However, in this case, you won't be eligible for a partial return of the finance charge. The Finance Charge is completely earned on the date the Borrowed Amount is distributed and is not refundable.
