What is PegasusPay™️
How
PegasusPay™️
Works
How it Works
Everyone is familiar with the old way to pay loans.
Every month you had to:
remember to mail a check to your lender.
worry about whether there would be enough money in your account for the "big" monthly payment.
worry about the check getting lost in the mail.
Most lenders still structure their loans to be paid the "old" way. However, what works best for the lender isn't always the right plan for you.
There is a new and better way to pay! We can electronically debit smaller amounts on a biweekly basis to help your budgeting.
Option 1 - Every Other Week
We debit ½ of the monthly loan payment every other week.* Because there are 26 biweekly periods in a year your lender will be receiving the equivalent of a WHOLE extra payment every year. This option works especially well if you are paid every two weeks.
* plus service fee
Option 2 - PegasusPayPLUS™
With the PegasusPayPLUS™ option we debit ½ of the monthly loan payment PLUS an amount you determine.* How quickly your loan is repaid is determined by the PegasusPayPLUS™ amount you choose.
* plus service fee
Both options help reduce the overall cost of financing by paying off the loan faster with less interest paid.
Using either of the above debit options means that twice a year extra funds can be forwarded to your lender.