632 E Ohio St, Pittsburgh, PA 15212
"Because, borrowing feels better when it's free"
Grace Period wants to offer you a reasonable solution for your cash needs. We are a non-profit organization. Our Mission: To provide an alternative to check cashing and cash advancing services on Pittsburgh's North Side, offering those accessing non-traditional financial services a hope and a future. We wish to use the classroom of personal circumstances as a means to educate our clients, their families and our community about the cycle of poverty. We are a non-profit corporation supported by its members and in partnership with Allegheny Center Alliance Church. We partnered with a church and were started with donated funds. We are on a mission to prove that in our community we don't need cash advance and payday loan operations. We are on a mission is to educate the community and offer a more reasonable alternative for borrowers.
North Side and E. Liberty
Second Location 325 North Highland Avenue Pittsburgh, PA 15206-2924 (412) 363-5626
CPA, MBA, LLC President of Professional Financial Planning, Inc
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I have been a member for about five years and after reading the one star reviews it's mind boggling to me that someone could have a problem with this organization.
They must have quit before allowing the program to work for them. It's a savings club not a bank.
If you stay with the program you get all fees payed back to you and you end up with a savings.
I'm just sorry it took me so long to post a review.
I have been with Grace Period since 1/10/10 and in the beginning the service was great then about a few months ago i noticed that my requests for a balance on my account was going un answered then when they finally did get back the numbers wasn't adding up. Finally i was fed up with the service so i opted out the program, i got a final balance of $747 on 10/17/12 and when i got my check from them on 11/16/12 the balance was $420, good thing i demanded a balance on 10/16 because the balance report i got on 11/17 was completely different. Also on 10/7/12 they had a check for me for $1000 mind you i can only borrow $250, the check wasn't ready in time for me to use it so when i got back they had the check but no balance inquirey, so i refused the money, now im being punished for leaving the program. People i found out that i was being over charged dues, please pay attention to your money. Im in the process of suing to get my money back.
I first used Grace Period about 2 years ago. They seemed legit and the savings account thing was helpful. I used them about 10 times in the past 2 years. Gradually during that time I began to notice their repayment amounts were getting higher. Then, last month I took out a $500 loan and they are charging me $405/month for 3 months to pay it back. That's over 200% profit margin and they are supposed to be nonprofit. They are only putting in $25/month into the savings. And, their fuzzy math doesn't add up. I will be filing a formal complaint against them.
We only borrowed $100 but since we did not pay back in the 13 "free" days we now have a fee of 12.00 per week applied on our bimonthly repayments of $50. We have now paid back $300 on a $100 loan so and with the fees it will take us forever to repay if we follow their "schedule". That's more than a 200% loan so far and we supposedly aren't finished repaying according to their "records".
Once they have you in the scheme, they don't return your calls in a timely manner nor do they send statements showing how much you have left on the "loan" in a timely manner. You have to go to the office to talk to someone face to face and then they try to blow off any concerns you have. Anyone thinking about borrowing from this organization, DO NOT DO IT!