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Q. What is a payday or cash advance?
A. A payday advance is a confidential short term loan to get you by until your next paycheck. The money is electronically deposited into your account until the loan is due, in which it is debited on your payday.
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Q. Why do people use payday loans?
A. While most people do a pretty good job of managing household budgets, there are times we need occasional help. An increasing number of consumers are using payday advances to cover unexpected expenses between paydays with a payday loan. An unsecured personal loan is a short-term financial management tool providing a cost effective alternative to costly bounced checks, late payment charges, or tarnished credit ratings.
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Q. Do I need collateral?
A. No. Your binding promise to pay will serve as your collateral.
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Q. When I request a payday advance, how long does it take for me to receive it?
A. Once we receive all the information we have asked for, you may receive your funds instantly at a storefront location.
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Q. When will I hear from you?
A. If all the information is complete and accurate, you should be contacted within 30 minutes after completion of your application, during normal business hours. Depending on the information provided additional information may be requested.
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Q. How will I know if I have been approved?
A. We will contact you with a loan offer. If denied, you will receive a denied letter by mail.
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Q. How and when do I repay my loan?
A. You can renew or extend your loan until your next pay date by just paying the finance charge. Your due dates are determined by the day(s) in which you are paid.
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Q. What are the payment options?
A. There are three payment options. 1. You may pay off your loan in full including the finance fee. 2. You may pay the finance fee plus some of the principle and extend your loan.
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Q. Can I apply by telephone?
A. Yes you can, just call the Loan Hotline at 800-270-6258.
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Q. Is there an application fee?
A. No you will never be charged an application fee.
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Q. How much can I qualify for?
A. You can qualify for up to $300.00 on your first loan. As you successfully pay off your loans, you may qualify for up to $500.00.
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Q. Can I have more than one loan at a time?
A. You are only eligible to receive one loan with us at a time.
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Q. Do you provide loans to military personnel?
A. At this time, we do not provide loans to military personnel due to new federal regulations that were recently enacted.
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Q. Why is there so much information in the Loan Agreement?
A. The Agreement is a contract that complies with all applicable state or federal requirements. It outlines the financial terms of the payday advance, including the cost of the service fee both as a dollar amount and as an annual percentage rate. It also contains an arbitration agreement and an ACH authorization.
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Q. How much does the payday advance cost?
A. The service fees on our loans may vary, the average fee is $18.00 per hundred dollars loaned.
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Q. Am I able to pay off my loan early?
A. Yes, you are able to pay off your loan early.
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Q. If I can’t payoff the loan when it is due, can I extend or refinance the amount unpaid?
A. You may do what is also called an extension or renewal of a loan.
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Q. What if I have poor credit or no credit?
A. Most lenders do not conduct a credit check. Instead they rely on your steady job as your collateral.
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Q. Is my transaction private?
A. YES! The website utilizes a 100% secure 128-bit SSL certificate for all input items. This means your information is secure and private.
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Q. What if I have an outstanding payday advance with another company?
A. If you have 5 or more active loans, we will be unable to assist you.
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Q. How do I know that the amount to be withdrawn from my account is the amount you say?
A. Since we are authorized to use the Federal Reserve Wire System, we must adhere to NACHA rules and regulations. The amount to be withdrawn from your account will be the amount that you authorized.
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Q. If sufficient funds will not be available on the loan due date, what should I do?
A. Contact us at the Loan Hotline, 1-800-270-6258 You will be charged an insufficient check charge in addition to your current balance. If we are not contacted, your account will be suspended until all monies are paid, and our collection process will begin.
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