THE COST OF AN IMMIGRATION LOAN WITH BYDcash
Immigrating to the US is complex, and professional legal support is highly recommended for the best possible outcome, but hiring a lawyer can be expensive. Most law firms require a large deposit upfront before they will start your case, and hefty monthly payments, with full payment due before your petition is filed. Therefore, a prolonged payment plan can delay your case for months or years.
We created BYDcash to solve this problem.
At BYDcash, we offer immigration loans of up to $15,000 to help you pay for your attorney’s fees and government filing fees upfront, so your case can be worked and filed as soon as possible. With budget-friendly payment plans, you choose your preferred monthly payment, and your lawyer gets paid 100% upfront, so they can start your case right away!
BYDcash IMMIGRATION LOAN COST
The cost is a fixed 3% per month on the outstanding principal balance. Here’s what that means.
- A longer payment plan = lower monthly payment, but higher total cost
- A shorter payment plan = higher monthly payment, but lower total cost
The good news? You control the total cost! The cost of the loan is based on the monthly payment plan you choose.
Other commonly used legal payment methods such as credit cards generally offer variable interest rates. This means that interest can compound over time. That means you can pay interest on top of interest, increasing the total cost due on the money you initially borrowed. With BYDcash, that won’t ever happen to you because our rate is fixed. You will know the exact total cost of your loan from the start when you select your payment plan.
KEY TAKEAWAYS:
- If approved, your attorney is paid their fees 100% from the start
- If there are government filing fees required for your case, you apply for them as part of your loan
- Our Customer Care team helps you determine a repayment plan that works for your budget. You will know the total cost of your loan from the start
- BYDcash loans are installment loans, meaning your monthly payment remains the same month to month – helping you stay on budget
- You can choose the day(s) of the month and the frequency of your loan payments (1x per month, 2x per month, or 4x per month)
SAMPLE: THE COST OF A $4,000 BYDcash IMMIGRATION LOAN
Alejandra meets with her immigration attorney and explores payment options to start her petition. The total legal fees and USCIS filing fees are $4,000. The attorney requires a 50% down payment to proceed.
Alejandra contemplates delaying her case to save up money to pay out of pocket, but her attorney suggests BYDcash.
Alejandra evaluates her finances and believes it would be smart to reserve an emergency fund for unexpected expenses, so she decides to to leverage a loan instead to help her meet her goals more quickly.
She secures a cosigner and applies for a BYDcash loan. When she is approved, she works with a member of the BYDcash Customer Care Team and tells them she can comfortably pay $250 per month with toward her loan and she prefers to make payment 1x per month.
Using the BYDcash Loan Calculator, she determines a 25-month loan term will bring her monthly loan payment to $229.71.
The total interest cost of a $4,000 BYDcash immigration loan over 25 months is just $1,664.94.
Below is the breakdown of the cost.
Term
(Months)
25
Total
Amount
$4,000
Monthly
Payment
$229.71
Total Loan
Cost
$1,664.94
Check out the BYDcash Loan Calculator to view your estimated monthly payment amount!
With fixed monthly payments and no hidden fees, you can start and complete your immigration case without the stress of delays and fluctuating costs. The path to Building Your Dreams starts with BYDcash.