Frequently Asked Questions
Personal Loans Q. Are there Alternatives to borrowing without collateral?A. If you have been contributing to a 401K, you might want to consider borrowing money against it. This is a great solution if you intend on paying the money back in a short period of time.
Q. Can I use my 401K?A. A good rule of thumb is if you will save more money in five years than the closing costs of the new loan it is a good time to refinance. However, find a reliable loan officer to help you better "crunch" the numbers to determine if refinancing is the best option for you. Check out more than a few lenders' mortgage rates.
Q. Is it important to receive a copy of my credit report?A. Definitely. Before applying for any type of loan or credit, it is important to review negative or erroneous information. There are actions you can take. We suggest that you order a 3-in-1 credit report. It will provide you with a complete analysis of your profiles as reported by all three major credit reporting agencies.
Q. What steps can I take to improve my credit score?A. There are proactive steps you can take to improve your credit score. It might take a while, but now is the best time to start. Visit Web Loan Nation often for updated information about this important topic.
Q. I'm Not a Good Saver.A. Save for emergencies and for a "rainy day." It's a cliché, but very true.
The best way to avoid having to deal with emergency expense situations is to develop an "emergency fund." This would require putting a few dollars away every month in a savings account.
Cash Advance Q. What is a Payday Loan or Cash Advance?
A. A cash advance provides you with a short-term loan until your next paycheck. Customers will frequently select payday loans to meet unexpected expenses while avoiding costly late fees, bounced checks for insufficient funds and similar problems.
Q. What about qualifying?A. Qualifying for a payday loan is easy and fast, especially when you compare the process to a traditional large loan. Bad or no credit is OK, since your employment and upcoming paycheck act as your collateral.
Q. Is the application and financial information secure?A. Lenders respect your privacy and realize the importance of good, secure personal financial management. Most websites use security measures to maintain the safety of your personal information.
Q. How much can I receive?A. Your payday loan is based upon the information you provide in the secure online application.
Q. When will I receive my payday loan?A. Your application will be processed within a few hours. When approved, you will receive your loan the same business day.
Auto Loans Q. What types of auto loans are available to me?
A. It depends on your individual circumstances, including your personal credit history. The great thing about an auto loan is that they are generally available for everyone.
Q. I have bad credit. Can I get an auto loan?A. Yes, you can. If you think you have a bad, or low credit rating, and have been turned down in the past, chances are there are lenders available who can help.
Q. How do I qualify for a bad credit auto loan?A. The basic qualifications are:
- A monthly verifiable income based upon the lender's requirements.
- Currently reside in the United States.
- Legal resident.
- Able to obtain automobile insurance.
- Full time employment or guaranteed fixed income for the length of the loan.
- Working phone number and proof of residence such as a utility or credit card statement.
A. Yes. Additional money, however, might be required if there is a lien on the automobile that you are trading.
Q. What advantage is there to applying for a direct auto loan online?A. The biggest advantage of applying through an online lender is that the online auto loan application and loan processing usually gives you the opportunity to receive the best rate, and allows you to do it in the privacy of your own home. Online auto lenders will inform you in a matter of minutes whether or not you have been approved for a loan.
