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Frequently Asked Questions
When you come on expertpaydayloans.com, you will probably meet some questions, such as how our service works; or you can come across the problems with understanding of information considering to short-term loans. In case you will not find answers among the frequently asked questions here, contact us directly by email or telephone number. We have well-prepared and high-qualificated team of experts, who are able to help you out with the detailed information and give you the instant responses. They will find the most suitable and safe loan option for everyone with meeting all the applied requirements.
What is a Short-Term Loan?
The short-term loan is small funds up to $1,000 that are given for short terms from 1 to 4 weeks, the duration depends on several factors and varies from a lender to another lender. This form of credit has the highest acceptance rate among all other credit products, as lenders require to protect it with income of the applicant. Due to this, applicants with low-trusted credit status or with some spots in the credit history can successfully get access to the opportunity of getting a short term loan.
What do I need to be approved?
The approving procedure is simple and enough fast. Almost everyone can be available to receive he short-term loan. First you need to fill out the form with some basic personal information that will help creditors decide whether it is a secure option for them to credit you or not.
The list of the necessary qualifications:
- Residence in the United States;
- The age is over 18 years old;
- Active valid contacts;
- Legal employment and steady income;
- Active private bank account.
There are some cases when creditors can request to present more personal details and ask to have a look of the documents, all these cases can be asked only individually. It can delay the procedure of receiving loan as it takes time to prepare and collect the necessary financial documents of applicants.
Is my personal data secure?
How much time does it take?
Our service works online, around the clock - 24/7 and it all decisions are taken fast. The first step for applicant is to fill out the form that takes a couple of minutes, the next step is the processing your request online that takes within 1 hour, the last step is to find perfect match with the lender can last also for some minutes not more. After that, the lender contacts you as soon as he gets your information. He starts to prepare the loan agreement. The last part of the deal is up to you. Now you need to make a decision whether you want to accept the lender’s offer or not. If you decide not to take the loan offer, you need to spend the same time to find a new more appropriate option. When you finally decide on the lender and are willing to accept all the terms of the loan agreement, you have to e-sign the document and give it back to the lender. The lender will send money to the applicant’s account as soon as he receives the signed agreement .The whole process lasts actually within one business day even if you reject the first offer.
Can an applicant with low-rated credit standing be approved?
Short-term loans are supposed to be the most given credit forms as even applicants with negative credit status or dubious reputation can be successfully approved. The lenders are used to check such applicants, who used to have some spots in the credit history. However, if you had some credit mistakes in the past, your terms of getting short-term loan will be downgraded by the lenders - the loan amount can be reduced, or the additional payments and fees can be increased.
Why should I contact a lender directly?
Our online service expertpaydayloans.com can only match you with the more appropriate creditor, but you have to contact him directly by yourself. We work in this way because our web platform is not responsible for the actions of the lender and the business. We can just help you to find each other. The lenders don’t provide us with the basis information about their loan terms and loan payments. That is why we cannot make any decision about giving or taking loans. In case, if you have any issue about your loan agreement or question about your loan terms, you need to contact your lender directly, not relying on our help.
When should I renew a loan?
When a borrower cannot repay a loan due to some certain and hard circumstances, he can ask the lender for renewing it. When the lender allows to renew loan, he imposes additional interest and extends the repayment period. In case you are on your way to the financial problems related to the repayment of your loan, it is better to contact your lender in advance to find out additional interest and other renewal terms.This option is supposed to be expensive and can impact on your financial status even more. But when you have time for negotiation with your loaner, you have opportunity to avoid extra penalties and fees. If you suppose that you can come across this need in the future, check the information whether your state laws allow renewals or not. There are some states in the United States that strictly forbid renewals of short-term loans. Look carefully through the information in the Rates and Fees tab to find out more.
If I can’t pay off on time or at all?
When delinquency comes, you need to read all the loan agreement again. There is a lot of detailed information about the cases and consequences of the defaulted payment. Go through your loan agreement, there are should be also plenty of information about applicable penalties, additional fees and debt collection practices and other actions regarding to defaulted payment or any kind of delinquency. It is necessary to see all the terms before you sign the loan agreement whether you accept them or not. Actually, all our lenders follow only responsible lending practices and meet also the official limits that were approved by federal and state laws. We promote among our applicants the idea to contact their lenders as soon as possible, in case when they face to the unstable financial situation.
How many credits can I take at the same time?
The loan agreement includes the information about the number of credit products that you can take at once. Also, there you can find details about the “cooling time” terms. If you are available to apply more than for one loan at a time depends on the state laws. If your state allows it, you obviously can do it, but you need to discuss the details directly with the lender before the signing contract. The same situation is with the “cooling time”. However, even when this is acceptable, the lender has the right to determine the number of credit products in the loan agreement within the limits set for each borrower individually.