Advance America – 21372 Hall Rd
Sources & References
https://www.mapquest.com/us/michigan/advance-america-22736622
Get more information for Advance America in Livonia, MI. See reviews, map, get the address, and find directions
https://www.linkedin.com/jobs/view/senior-copywriter-at-finance-of-america-4331312227
Posted 7:00:36 PM. About UsAt Finance of America, we help homeowners unlock the joy that comes from realizing the full…See this and similar jobs on LinkedIn
https://www.mapquest.com/us/michigan/advance-america-436430323
Get more information for Advance America in Detroit, MI. See reviews, map, get the address, and find directions
Map Location
Services this business provides
Contact Information
Address
21372 Hall Rd, Clinton Township, MI 48038
Phone
(586) 46-86-835Website
www.advanceamerica.netFrequently Asked Questions about Advance America
- Maximum loan amount and fees: Payday loans are capped at $600 with a sliding service fee schedule tied to the amount borrowed, effectively limiting fees per $100 borrowed (first $100 at 15%, then 14%, 13%, 12%, and 11% for the remaining increments). APR caps have been proposed and discussed, with a 36% APR cap debated in the legislature, though not always enacted into law at the time of reporting.
- Term and renewal limits: The standard loan term is up to about 31 days, with typical two-week cycles for smaller loans, and Michigan’s law often restricts rollovers and the number of outstanding payday loans a borrower can have.
- Consumer protections and disclosures: Lenders must comply with state requirements for licensing, disclosures of terms, and protections against deceptive practices; some sources discuss required repayment plans and borrower assistance provisions if multiple loans are taken in a period.
Where to find more info: Michigan Department of Insurance and Financial Services (DIFS) regulates payday lenders; state legislative updates and court decisions affect current requirements; federal consumer protection resources for lenders’ nationwide obligations are also useful.
For deeper details, consult the Michigan Department of Insurance and Financial Services’ Consumer Finance section, which outlines licensing requirements, regulated entities, and the Acts that govern consumer finance in the state. Additional context on proposed reforms and financial services regulation can be found in Michigan legislative materials and industry responses. If you need, I can summarize current statute sections or point to specific bill texts.