How do I qualify for Boomerang?

Have a working, good condition smartphone, valid I.D., be at least 18 years old, and have a verifiable payday loan debt for us to pay off. That's it... No really.
How long does it take to apply, and for my payday loan to be paid off?

Once the required items, including your smartphone, are authenticated and verified, and you agree to the new installment loan terms, your payday loan will be paid off before your next payment is due.
Will the Boomerang loan flat rate ever be higher than 36%?

No. Our flat rate is based on the Consumer Financial Protection Bureau (CFPB) and Pew Research's recommended small dollar loan amount interest rate cap of 36%, and will never be higher than that. Research has shown that this rate allows a person making minimum wage, paying no more than 5% of their monthly earnings, to still manage their other financial obligations. Our loans don't "roll over", the way that payday loans do, because our rate is a flat rate and can't increase, ever. It's intended to keep our borrowers out of the debt trap.
Are there any hidden fees, late charges, or over draft fees?

Nope. The only fee is the flat rate that you are quoted, that's included in the 4 equal payments, so that your loan is gone in 4 months.
Did you check my credit score?

Nope. Your smartphone qualifies you. Your credit history doesn't matter to us. Our goal is to help you get rid of the toxic payday loan and into a Vybe secured credit card, with no up front cash, that will help you build credit and never need a payday loan again.
When I load the Boomerang software to my smartphone, will Boomerang have access to my texts, pictures, locations, and other personal data?

No. Boomerang will NEVER have access to or be able to view anything on your devices that you don't give specific permission for.
If I miss a payment, do I lose my smartphone?

If you miss a payment or pay late, you will NOT lose your smartphone. Our goal is to help you get out of your predatory payday loan, and we want to support you every step of the way. A missed payment will simply prompt us to give you two reminders to pay your minimum monthly loan payment. If it hasn't been paid after the second reminder, we will then restrict the full functionality of your device to only emergency service calls. As a last option to payments that absolutely cannot be paid, we can assist you as a lien holder in selling your phone for market value to pay off the outstanding balance, and remitting any remaining balance to you. Keep in mind that your monthly payment will always be far, far less than paying for a replacement phone.
How many days do I have to pay my bill?

Your billing cycle is every 30 days.
What amount of my payday loan will Boomerang pay off for me?

Boomerang will pay off, up to a $300 verified payday loan, directly to the payday lender.

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