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Alpha Omega Consulting Group, Inc. has been in business for over 30
years, developing industry-specific programs
with strong track records in features, reliability, performance and support. We are
industry leaders in the following areas: Auto Title Loan
software
(also known as Title Pawn software), Payday Loan software,
Cash Advance software, Check Cashing software, Installment Loan
software for Amortized Loans, Balloon Notes and
Hybrid methods, Lease software and Money Order
software: all in one convenient, user-friendly Windows program! All our
modules are customizable, which means they can be adapted to
your company. Your company doesn't have to be "shoehorned"
into our programs; you'll have room to flex and grow. We developed our first
software product in 1980, so we were
designing, programming, customizing and supporting advanced software systems
when most of our competitors were "still in diapers." Most importantly,
we support what we
sell and don't put our customers on automated voice mail "help"
systems or refer them to FAQs, e-mail support, or minimum-wage-earning
"support" people reading wrote answers out of "knowledge
bases." If you have a problem the person answering the phone
can't handle, we'll put you in touch with a senior programmer who knows the program
inside and out! Also, if you have questions about the industry, such as how
to do CSO title loans and payday loans in Texas, or how to do equity line of
credit (MVELOC) loans in Virginian and Kansas, our knowledgeable staff will
give you free, friendly advice even if you don't buy our
software. We may be able to help you save many hours on
fruitless quests for hard-to-find information, if you just give us a call,
and we never pester or badger potential clients.
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The following features are included at no extra cost in Title Loan
Professional: Title Loans (also known as Title Pawn Loans), Cash Advances (also
known as Deferred Presentment Loans, Payday Loans, Payday Advances, Paycheck
Loans, Paycheck Advances, etc.), Check Cashing, Installment Loans (amortized
loans with fixed monthly payments), Consumer Installment Loans, Retail
Installment Loans, Commercial Installment Loans, Lease Loans, and Money Orders.
We have customers using Title Loan Professional all over the United States, with
special features and contracts for the following states:
Alabama Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Arkansas Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Arizona Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
California Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Canada Title Loans and Cash Advance/Payday Loans (see Canada-specific notes
below)
Delaware Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Georgia Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Illinois Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Iowa Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Kansas MVELOC Title Loans Cash Advance/Payday Loans (see state-specific notes below)
Kentucky Cash Advance/Payday Loans (see state-specific notes below)
Louisiana Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Maine Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Missouri Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Mississippi Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Montana Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Nevada Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
New Hampshire Title Loans and Cash Advance/Payday Loans (see
state-specific notes below)
New Jersey Restaurant and Commercial Merchant Account Loans (see
state-specific notes below)
New Mexico Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Ohio Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Oklahoma Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Oregon Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Rhode Island Cash Advance/Payday Loans (see state-specific notes below)
South Carolina Title Loans and Cash Advance/Payday Loans (see
state-specific notes below)
South Dakota Title Loans and Cash Advance/Payday Loans (see
state-specific notes below)
Tennessee Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Texas CSO Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Utah Title Loans and Cash Advance/Payday Loans (see state-specific notes
below)
Virginia MVELOC Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Washington Title Loans and Cash Advance/Payday Loans (see state-specific
notes below)
Wyoming Title Loans and Cash Advance/Payday Loans (see
state-specific notes below)
Canada Title Loans and Cash Advance/Payday Loans (see Canada notes below)
Mexico/Hispanic Title Loans and Cash Advance/Payday Loans (see Hispanic notes
below)
Personal Line of Credit, Equity Line of Credit and Revolving Line of
Credit Loans. These type of loans allow lenders to swim in the same
loosely regulated waters as the big banks, home equity lenders and credit card
companies. Surprisingly, in every state we've entered with these types of loans
so far, small lenders are allowed to do these types of loans without special
bank charters. The big lenders make oodles of cash by offering lines of credit
to individuals, then earning a variety of fees and interest, including late
fees, cash advance fees, annual fees, etc. What is the effective APR on a $100
balance, when the borrower pays a $20 to $30 late fee? The secret to making
money in states with interest rate caps is to keep the balances low in
proportion to the fees charged. We have the software and the expertise to help
you earn money the way the "big boys" do.
Internet. For companies interested in doing title loans,
cash advances and payday loans via the Internet, we have custom features and
contracts for both title loans and payday loans. We also have the ability to
print contracts to PDF files which can be emailed to clients or posted to a
website. This means lenders can do Internet title loans and other loans without
paying outrageous software to get started. With our software, you can set up a
basic site and test the waters for around $1,995 to $2,995 without recurring
fees, then "grow" your website once it becomes profitable. If your company is
interested in Internet title loan software and/or Internet payday loan software,
please contact Mike Burch toll free at 866-802-5742 ext. 101. Companies
interested in doing title loans via a website will be interested to know that
one of the first companies to do Internet-based title loans all over the United
States has been using our software since 2004, with good success, and is able to
do title loans in all but a handful of states where repossession and/or
electronic signature regulations don't favor title loan companies. Again, for
more information about software for doing Internet title loans, contact Mike
Burch at 866-802-5742 ext. 101.
Canada. For Canada, we support title loans, payday loans,
check cashing and "buy down" notes in which the interest is added to the
principal as a lump sum, and the loan is then paid off without further interest
accruals. We have done custom programming for our Canadian clients, and our 800
number is toll free in Canada, so please call Mike Burch at 866-802-5742 ext.
101 for
more information.
Mexican and Hispanic. We have a number of Spanish language
contracts and are more than willing to work with companies that make loans to
Hispanic clients.
If your state or specific need is not on the list above, don't worry. It generally only takes a few
hours for our programmers to develop contracts and other forms customized for a
new state. And if your state has "quirky" rules, that's all the more
reason to consider our software. Here are some case studies...
For Alabama, we have added a unique Keyword Report that allows users to
quickly and easily generate those pesky Loan Denial Reports and Litigation Logs
required by the state of Alabama. We have a state-specific letter that allows
delinquent clients to pay off their loans in four payments, as the state of
Alabama requires. We also have both plain paper and Burrell
title loan and payday loan contracts pre-programmed into our software, so you can be up and running in a flash.
For Arkansas we have custom contracts for internet research and other products
that work similar to title loan and payday loan contracts. These contracts allow
Arkansas companies to sell services while giving cash as a rebate and collecting
a larger amount on a specific date.
For Arizona we have a variety of title loan, payday loan and
installment loan options and custom contracts. Our clients in Arizona are
increasingly converting to multi-pay installment loans, and our software offers
a number of options for multi-pay installment loans, such as amortized loans and
balloon notes. We have plain paper contracts customized for Arizona.
For California we have English and Spanish cash advance/payday loan contracts
that can include ACH and Arbitration agreements as part of the contract. We also
have a wide variety of custom title loan contracts for California. Title loans
in California are generally done on an amortized loan basis, and if your company
charges an up-front filing fee (such as an origination fee, documentation fee,
etc.) that is retained in full or in part by your company, it is imperative that
the software you select includes this fee in the Federal Truth in Lending boxes,
increasing the APR and Finance Charge disclosures. Our software can handle what
we call "Regulation Z fees" (because full disclosure is mandated by Federal
Regulation Z). But software originally written for pawn shops, check cashers,
payday loan companies, etc., may not handle such fees correctly, meaning that
unsuspecting title loan companies may be subject to federal class action
lawsuits by predatory law firms. There is a very simple way to make sure that
your software is compliant, so please call Mike Burch toll free at 866-802-5742
to make sure your company is in compliance with Federal Regulation Z. Even if
your company doesn't charge such a fee currently, do you really want to use a
program that doesn't "understand" and comply with a critical federal regulation?
A few minutes to test for full compliance is a good idea, in our opinion,
whether you already have software or are considering a new program.
For Delaware we have custom features and contracts for both
title loans and payday loans. We also have the ability to print contracts to PDF
files which can be emailed to clients or posted to a website. This means
Delaware-based companies can do Internet title loans. If your company is
interested in Internet title loan software, please contact Mike Burch toll free
at 866-802-5742. One of the first companies to do Internet-based title loans all
over the United States has been using our software since 2004, with good
success, and is able to do title loans in all but a handful of states where
repossession and/or electronic signature regulations don't favor title loan
companies. Again, for more information about software for doing Internet title
loans, contact Mike Burch at 866-802-5742.
For Georgia we have programmed our software to automatically reduce the
title loan interest
rate to 12.50% after three months on title loans, per state regulations, and we
also have the ability to interface to Georgia police departments to report title
loan/title pawn transactions, as is required in certain areas. We have a variety
of custom program features and title loan contracts for Georgia. Many
prospective title lenders in Georgia find it hard to determine how to get a
business license from the state. The solution is surprisingly simple and easy,
so please contact Mike Burch toll free at 866-802-5742 to get "the inside
scoop."
For Illinois we have a variety of custom loan products and contracts that
include a consumer loan with multiple postdated checks, a balloon note,
installment title loan contracts, wage assignments, ACH and Arbitration
agreements, and much more! Since the payday loan regulations changed in
Illinois, making payday loans less attractive, installment loans have become
"the way to go" and we have a number of custom features and contracts for
Illinois lenders in our software.
For Iowa we have a Motor Vehicle Equity Line of Credit (MVELOC) contracts and
billing statements that work very much like a credit card or home equity loan
billing system. We have spent many hours working with Iowa lenders to develop
custom program features and contracts for Iowa.
For Kansas we have Motor Vehicle Equity Line of Credit (MVELOC) contracts and
billing statements that work very much like a credit card or home equity loan
billing system.
For Kentucky we have custom payday loan contracts, and being based in
Nashville, Tennessee, we are "just down the road" and willing and able to work
with Kentucky lenders.
Louisiana title lenders should contact Mike Burch toll free at
866-802-5742 to get "the inside scoop" on doing title loans in Louisiana. We
have a variety of custom payday loan and title loan contracts for Louisiana. For
payday lenders, it is important to understand that Louisiana has the "pickiest"
and most complicated payday regulations in the United States, and therefore
while it's easy to make money, it's important to have software that can handle
the details legally and correctly. Payday software that works fine in other
states may not function legally in Louisiana. For instance, late interest on
payday loans must drop to 36% APR after 30 days, and then to 18% APR after 12
months. Our software has been customized for Louisiana payday loans.
We have had clients use our software in Maine, but it would
be best to contact Mike Burch toll free at 866-802-5742 to discuss the details
of using our software in Maine.
Maryland companies may be interested in the Virginia market,
which is dynamic and booming. We are in discussions with companies in Maryland
that believe title loans may be legal there, but at the moment we do not have
lenders doing business in Maryland. If you have input or questions about
Maryland loans, please contact Mike Burch toll free at 866-802-5742 to get "the
inside scoop."
For Mississippi we have a 10 payment title loan with a 10% principal
reduction, per state regulations. In addition to the 10-pay title loan contract,
we also have a Mississippi cash advance/payday loan contract.
For Missouri, our software can do Title Loans on either a daily interest
basis, or on an installment loan (amortized loan) basis. These options are
available for other states as well, but in Missouri you may want to be able to
do both types of loans, on a loan-to-loan basis, and with our software you can.
Missouri Department of Finance auditors have referred Missouri lenders to us,
which is a good sign! We also have a variety of contracts for
Missouri balloon loans, 45-day consumer loans, and much more.
For Montana, we have worked with a number of lenders to meet
the latest state regulations, and we have custom contracts for Montana. We can
refer Montana lenders to other lenders in the state, so that they can work
together to achieve full compliance with the latest state regulations. Please be
aware that title loan software that has not been customized for the latest
regulations may not handle the state-mandated principal reductions correctly,
since they "kick in" in the middle of the loan. Please contact Mike Burch toll
free at 866-802-5742 to get "the inside scoop."
We have had clients use our software in New Hampshire, but it
would be best to contact Mike Burch toll free at 866-802-5742 to discuss the
details of using our software in New Hampshire.
For New Mexico, we have custom program features and
contracts. As with Arizona, we see New Mexico lenders moving toward installment
loan methods, such as amortized loans and balloon notes. If your company charges
up-front fees such as filing fees, documentation fees, or other loan origination
fees, it is vitally important that you understand and comply with Federal
Regulation Z, so please contact Mike Burch toll free at 866-802-5742 to get "the
inside scoop."
For Nevada we have a number of loan products and contracts, including a standard
payday loan contract, an installment loan balloon note, and title loan
contracts.
For Ohio we have custom payday loan contracts and have done
custom programming to split the charge to the client into interest and fee
components, per Ohio state requirements.
For Oklahoma we have a custom cash advance/payday loan contract that allows a flat
fee to be added to a loan for the Veritec database research fee.
For Oregon we have a variety of loan products and contracts, including cash
advance/payday loans, title loans, installment title loans, and installment
consumer loans. We have done a lot of custom programming to meet the various
Oregon state regulations. Since the latest Oregon regulations went into effect,
the "dark cloud" is that it's harder to make money in Oregon. But the "silver
lining" from what we've heard is that many lenders have closed their doors, and
it is possible to operate profitably by making smaller loans and scooping up the
"cream of the crop" among local borrowers. Please contact Mike Burch toll free
at 866-802-5742 to get "the inside scoop."
For Rhode Island we have a custom payday loan contract.
For South Carolina, we have done custom programming to make our software be
able to do loan increases (also known as "refinances" or in the old days "flip loans"). We also
have a provision to stop accruing daily interest at the 240 day (8 month) mark,
with the ability to "grandfather" loans made before January 1, 2004. We also
have a "buying days" option that converts a customer's payment to a number of
"paid days" that move the next payment due date forward. We also support
true
daily interest on installment (amortized) loans, as SC auditors are now
recommending or requiring (with some degree of inconsistency) that true daily
interest be done on amortized loans, rather than precalculated interest, even
when precalculated interest saves clients money. We
also have Spanish title loan and payday loans contracts for SC.
For South Dakota we have custom title loan programming and
contracts. Please contact Mike Burch toll free at 866-802-5742 to get "the
inside scoop."
Tennessee is our home state, we've been based in Nashville for
over 25 years, and we have hundreds of Tennessee clients, including chains in Nashville,
West Tennessee and East
Tennessee that have been valuable contributors to our software development
efforts. If you're based in Tennessee, we've got some home cookin' for ya'll.
Our software generates state-required reports such as the Schedule C, the Title
Pledge Log, and the Repo Log. We support title loans, payday loans, check
cashing and money order tracking in an "all-in-one" package specifically
designed for Tennessee lenders.
For Texas we support CSO title loans and payday loans. We also support title
loans done on a "car club" or "auto club" basis, with an interest rate below 10%
to avoid Texas usury laws and OCC oversight. We also have custom contracts for internet research and other products that
work similar to title loan and payday loan contracts. However we see no reason
to do "oddball" loans in Texas any longer, with CSO loans having been ruled legal in Texas
by a federal judge, and with the Texas Secretary of State, Attorney General and
OCC all being, as far as we can tell, in agreement that CSO loans are legal in
Texas as long as the lender and CSO companies are properly incorporated and
related to each other. We can refer Texas lenders to a Texas attorney if they
need help incorporating to do title loans and/or payday loans in Texas. Please
call Mike Burch toll-free at 866-802-5742 for more information about Texas title
loans, payday loans and the legalities thereof.
For Utah, we have recently updated our title loan and payday
loan contracts for the latest Utah regulations. Utah seems to make more changes
to its regulations (and "interpretations" thereof) than any other state, so it's
important to select a software vendor committed to the state. We are. Please
contact Mike Burch toll free at 866-802-5742 to get "the inside scoop."
For Virginia we have a Motor Vehicle Equity Line of Credit (MVELOC) contract
and billing statement that works very much like a credit card or home equity
loan billing system. Also, with the new Virginia payday regulations putting a
damper on payday loan renewals, we have added a new feature that allows
revolving line of credit (RLOC) loans to be done as "bridge" or replacement
loans for traditional Virginia payday loan borrowers. These RLOC loans are
actually more profitable than payday loans, and there is no interest rate cap.
Better yet, no special state license is required. Lenders who are interested in
picking up the "cream of the crop" among traditional payday lenders in Virginia
should contact Mike Burch at 866-802-5742 to discuss how RLOC loans can be done
in Virginia, in lieu of traditional payday loans, or as supplemental or "bridge"
loans when a payday borrower is unable to renew a traditional payday loan. The
good news is that there is a simple, easy, highly profitable alternative with
Alpha Omega's software. The bad news is that, as of the time this text was
added, none of our software competitors seems to "have a clue." So Virginia
lenders may believe the sky has fallen because their software vendors have their
heads stuck in the sand! Again, please call Mike Burch if you want information
about a new Virginia loan method that's so simple, easy and profitable it will
"knock your socks off."
We have had clients use our software in Washington, but
please contact Mike Burch toll free at 866-802-5742 to discuss doing title loans
and payday loans in Washington.
We have had clients use our software in Wyoming, and we have
custom title loan and payday loan contracts for the state. Please contact Mike
Burch toll free at 866-802-5742 to discuss doing title loans and payday loans in
Washington.
For just about every state on the list above, we've
either heavily customized or tweaked our software to some degree. And keep in mind that the regulations in
your state can change any day. The software that works today is only as good as
the software company that supports it tomorrow! And support has "been our
claim to fame" for over 25 years.
Here is a list of the reports and other printouts included in Title
Loan Professional, along with some comments. Many of the reports can be run in a
variety of combinations. We have over 350 printable contracts, receipts,
letters, reports, etc., and that number keeps growing on a weekly basis. And please keep in mind that all reports, letters,
contracts and forms are completely customizable:
Title Loan Contracts and Pledge Agreements -
many state-specific contract formats
DMV (Department of Motor Vehicle) Forms - multiple state-specific versions
Cash Advance (Deferred Presentment) Contracts - many state-specific contract
formats
Customer Payment Receipt - many formats
A Variety of Customizable Letters and Forms:
Late Letters - many formats
Repossession Letters - many formats
Right to Cure Letters - many formats
Notice to Cure Default - many formats
General Power of Attorney - multiple formats
Reminder to Borrower Letter - multiple formats
Privacy Notice - multiple formats
Affidavit of Fact
No Liens Letter
Title Key Receipt Letter
Electronic Funds Transfer Authorization Letter (EFT
Letter)
A wide variety of Customizable Lists and Reports:
Client List
Notes List - Select by client, from date, to date, keyword (such as "loan
denial", "litigation log", etc.)
Loan List - Sort by Name, Account #, or Loan #; Select Date Range, All or
Outstanding Loans
Loans Due by Name
Cash Advance Summary - Select Date Range
Returned Check List - Select Date Range
Check Register - Select Date Range
Signed Off Check List - Select Date Range
Unearned Fees and Interest - Select As Of Date
Reduced Interest Audit Report - Shows clients given reduced interest who are now
past due
Inventory List
Login/Logout Sheet - Can be used as a time clock and for payroll purposes
Daily Receipt Log - Select Date Range and Loan Type (Title Loan, Cash Advance,
etc.)
Cash Drawer Reconciliation - Select Cash Drawer and Date
Daily Summary - Select date; Shows all daily category totals for end of day
balancing
Daily Transaction Report - Select Date Range; Shows detail and totals for each
transaction type
Past Due Loans - Select Loan Type (Title Loan, Cash Advance, etc.), Days Past
Due, As Of Date
Outstanding Loans by Status - Select Loan Type, Loan Status (Past Due, etc.), As
Of Date
Outstanding Loans by Due Date - Select Loan Type, Loan Status (Past Due, etc.),
As Of Date
Customer Payment Receipt - Prints automatically upon payment (multiple formats
selectable)
Customer Data Verification Form
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ABN Loans - Loan Information Galore! |
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Accounting Software Directory - A one stop resource for all your
accounting software needs. |
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Cash Advance Headquarters |
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Loans Spot - A Valuable Loans Website and Information Resource. |
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| QIC Loans - The
best resources for loans. |
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Qwk Loans.com
-
Your one-stop for loans! |
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| Your
Payday Advance Company - Barnhart, Missouri (MO) Payday Advance and Cash
Advances |
Financing,
Refinancing, and Credit Reports from Harbor Credit
We're a
company founded by consumers, for consumers and our mission is to
empower you, the consumer. |
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Payday Loans -
The best source for no fax payday loans, cash advances and personal
loans with no credit check. |
| First Funds
Capital
provides small business loans up to $1,000,000 in as
little as 72 hours with no application or late fees. |
| Merchant Services and Credit Card Processing
Merchant Service Group provides an array of electronic processing options to retail, restaurant, mail order, telephone order, and Internet businesses. Our services include credit, debit and EBT card processing, check conversion and guarantee. |
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Repossession Remortgage - If you are facing a repossession order
we can help get a fast repossession mortgage |
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Fast Cash Payday Loans UK - UK payday loans available, fast same
day payout, no credit checks. |
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Contact Lenses - Lens.com offers a huge online inventory of brand
name contact lenses. |
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Copyright © 1999 - 2009 Alpha Omega
Consulting Group, Inc.
All rights reserved.
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