shadow

Deferred Deposit FAQ

1. What is a deferred deposit, or post dated check advance?
A short-term money advance provided until your next payday or benefit payment.

2. How does it work?
Once approved, we will fax you a disclosure and authorization form that will allow us to disburse the money to you and electronically debit your bank account for the amount financed as well as the finance charge.

3. What do I need?
If you are employed or have some form of guaranteed income, SSI, SSDI, etc., you can apply. We will confirm the information you give us as well as perform credit verification. When you meet at least the minimum criteria, you are approved!

4. Does a poor credit history disqualify me?
Not necessarily. We are here to assist customers when the need arises. Many of our current customers have credit difficulties from time to time.

5. What if I filed bankruptcy?
You may still qualify, if the bankruptcy is discharged, subject to our normal employment and residency requirements.

6. Is collateral required?
No. You simply authorize a Demand Draft and/or ACH from your checking account.

7. How long does it take to get the payday loan bad credit?
The approval process usually takes 20-90 minutes. Delivery of funds into your checking account or to your home can usually be arranged either on the same day or the next banking day.

8. What should you do if you believe your check might not clear the bank?
Call us immediately. A “bounced check” could cost you substantial “NSF” fees by your bank and can also damage your credit rating. While your obligation to repay is not waived, we will attempt to assist you.

9. Is this transaction confidential?
Yes. This internet application is secured by “SSL” encrypted technology. In addition, all of your records are held in confidence at our electronic commerce center.

10. Can I request multiple PAYDAY LOANs?
No. Only one (1) PAYDAY LOAN can be outstanding at any given time. However, by calling toll free (877) 729-3295, a customer service representative may be able to assist you with a larger loan.

11. What are the benefits if I repay the PAYDAY LOAN on time?
Customers with a good repayment record receive our VIP services which include expedited servicing and discounted rates.

12. What happens if I don’t follow through and repay my PAYDAY LOAN?
We would not stay in business if our customers did not honor their agreements. We do reserve the right to collect delinquent loans using all legal remedies available including legal debt collection and civil court action.

14. What is a Demand Draft?
A Demand Draft is a check created in lieu of your personal check per your authorization.

15. What is an ACH?
An ACH (Automatic Clearing House), is the electronic system setup by banks to transfer funds between themselves.

 

Also read:

What You Need to Know About Payday Loans

10 Tips For Understanding And Improving Your Credit Score