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Bad Credit Personal Loan FAQ.
You must be at least 18 years of age. You must have a checking account that has been open and in use for at least 90 days. You must have a minimum of $1000 in payday or fixed income deposits per month.
How does Personal Loans work?
They provides short-term cash advances that are electronically deposited into your checking account. Everything from application to payment is done electronically via our web site. When your loan is due, the amount borrowed plus a service fee is debited from your checking account.
What if I cannot pay the amount owed by the due date?
If you choose not to pay your loan on the due date, you can extend the loan for an additional fee. You can extend your loan up to three times, paying only the finance charges and fees due at that time.
Why do I have to pay extra on the principal when I do an extension?
Personal loans are designed to be short term loans to meet an immediate need. Unfortunately, a dependence on extensions moves a customer into a long term situation which is not in their best financial interest. We are committed to dealing with consumers with honesty and integrity and do not wish to take advantage of anyone or to allow them to abuse a system to their own harm.
When can I get my money?
You should fax in your bank statement as soon as possible. The deadline for next-day funds is 4:00 p.m. Pacific Standard Time. You must be approved by this hour for your funds to be available by the next banking day.
How can I get a loan from Personal Loans?
After filling out the online application or calling them to apply by phone, you will have to fax in your bank statement and a voided check. They examine your bank statement to determine your income, and they loan you funds based on the monthly amounts we see deposited into your account. If they approve your loan request, the funds will be deposited into your account overnight so that you can get your money the next banking day.
What does it cost?
The cost of your cash advance loan is dependant on many factors, such as the lender and how you manage your financial obligations. Cash advance loans are designed for emergency situations when you are short of cash and need money fast! Family emergencies, unexpected car repairs, overdrafts, telephone reconnection and deposits are just some of the urgent cash needs that you may experience.
Your fees are less than the cost of not having the cash you need when you need it - overdraft fees, bounced check charges, taxes, even losing your job because you can't get to work! Actual fees are determined based on the information you provide when you submit your loan application.
Your cash can often be sent to your bank account the very next business day and you don't repay until your next paycheck.
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Suggested Personal Loans Site:
Wikipedia: Personal Loans - The web giant's look into personal loans and how they operate. Wikipedia is the world's largest open source encyclopedia.
Payday Loans = Costly - Cash A close look at the high costs associated with no faxing payday loans provided by the Federal Trade Commission.
Bad Credit Personal Loan make every effort to keep the information on our website 100% accurate all the time. This site is updated regularly. Should you find something inaccurate, we encourage you to e-mail us.