Frequently Asked Questions
Welcome to https://residentdrugrehabcenter.com board of frequently asked questions. Please, go through the main issues about short-term loans and the peculiarities of our service. If you will not find the answers to your questions regarding the use of the service or short-term loan industry in general, please, contact us to ask directly. Our expert team is happy to help you get along with short-term loans and understand how to make the best of this credit option and use it safely.
What is a personal loan?
A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.
What does one need to be approved?
Qualification for personal loans is simple. Lenders need only basic information about applicants to decide if it is secure to provide credit or not.
- one needs to be a legal USA resident of 18 years old or more;
- one needs to provide valid contact details;
- one needs to be legally employed and have steady income;
- one needs to have an active bank account for direct deposit.
It is possible that lenders will enquire more information about applicants (for example, to send pay stubs to prove income) individually. In this case, the procedures can take more time and involve additional procedures and paperwork (faxing or scanning).
Are the procedures safe?
When you make your request on Consent for Electronic Signatures, Records, Disclosures, Communication
It is important that you read and understand the information herein prior to submitting any information on the website or starting do business electronically.
By giving your consent on the terms stated on the website and submitting your information via our online form, you agree that you have read this notice and understand how you can conduct transactions, communicate electronically and use the service on the website, request to be matched with a lender and further cooperate with loan providers online. Once you are matched with a lender, you will need to give your consent (e-consent) to use e-signatures, accept electronic recording, disclosures and e-communication in order to be provided with the services and products you have expressed your interest in.
You can request disclosures and other legal notices to be printed for the records at no charge. This request should be sent directly to the concerning lender (entities can keep hard copy legal documents according to the terms and provisions of the applicable law).
The Scopes of Consent
All communications, including but not limited to online interactions via mobile phone, smart phone, tablets are considered electronic interaction. E-consent is applied when e-communication, including by the means stated above, takes place between you and a third party lender. The admission of e-consent implies that your information may be collected and processed electronically, transactions may be performed electronically, and documents may be signed and stored electronically. Additionally, your lender may send you electronic notifications, such as reports, disclosures, links to the other third party websites, links to the other lender’s websites and online services.
Giving you e-consent you confirm that the e-communication mentioned above is considered of the same legal value as the communication by means of hard copy documentation.
NB: Conducting business electronically implies that the parties involved are capable of going through processing with sufficient hardware and software facilities. Before deciding to give your e-consent you should check if your facilities fit the requirements for the transactions and operations you will need to perform electronically. These are the basic software and hardware requirements:
Software and hardware: A PC or MAC compatible computer or other device capable of accessing the Internet, e-mail account, Internet Browser software program that supports at least 128 bit encryption, such as Microsoft® Internet Explorer, Netscape® or Mozilla Firefox®, PDF file reader like Adobe® Acrobat Reader X ® or Foxit® etc. Take into consideration that different transactions may require additional facilities. You may need to contact you lender to get specifications on the facilities you may need.
Since your e-consent from our matching service and the processing of your information by our lenders is a one-time transaction, you cannot withdraw it. From the moment you are already matched with a third-party lender you can withdraw your consent from this lender at any time at no charge by sending the respective request. You should keep in mind that withdrawing your e-consent you can prevent the lender from providing you with a loan offer or credit product. You should also keep in mind that the legal effectiveness, validity, and enforceability of prior electronic disclosures will not be affected in case you request to withdraw your e-consent. You can contact your lender directly to find out more about the details of these procedures. It’s encouraged that if you change your information (electronic address, mailing address) you should notify your lender as soon as possible to have your information updated.
How much time does it take?
This financial product is considered relatively fast, because most processing can be performed completely online, and this online search and match service works 24/7. It takes just minutes to fill out the form and request a loan, less than an hour to process request and connect a customer with a lender. As soon as the lender is able to make final decision to approve the borrower’s application, the lender provides loan agreement. All one needs to do is to familiarize with the offer and make credit decision. If one opts for rejecting the loan offer, one can simply ignore further procedures and repeat loan request if necessary. If accepted, the loan agreement should be e-signed. Usually, it takes just one business day to have money sent to the borrower’s account (in case direct deposit option is available). In most cases, borrowers can get their money in as soon as one business day.
Can a bad credit applicant be approved?
Some lenders in our network need to perform credit verifications with traditional credit bureaus, the others may just check if an applicant is not a bankrupt or has no outstanding debts with other lenders. In many cases bad credit or lack of credit will not impede applicants from being approved. Nevertheless, low credit score and insufficient credit information may influence the amount and terms of loan offers, provided by lenders.
Why does one need to contact lender directly?
https://residentdrugrehabcenter.com works as a matching service, which enables users to access reputable lenders and get better loan options. We don’t have information regarding particular loan products or their terms. Nor do we make any credit decision. If the borrowers who used our service have issues regarding their loan contracts, they should contact their lenders directly.
Why does one need to renew a loan?
Sometimes borrowers find it hard to repay their loans on time due to unforeseeable circumstances. In these cases, most lenders allow borrowers to renew their loans for additional interest added to the total. This option can be expensive, so we recommend contacting lenders before these circumstances take place to avoid additional payments and penalties. In addition, not all the states allow renewals. One should first check the status of online personal loans and applicable laws, which regulate personal loan lending in one’s state. Use the information on [Rates and Fees] page to find out more.
What happens when one can’t pay off on time or at all?
The cases of defaulted payment terms are explained in every loan agreement together with applicable penalties, additional fees, collection practices and other actions associated with delinquency. One should check these terms before signing agreement in the first place. All the lenders in our network adhere to the best practices in the industry, follow federal and state laws and promote responsible lending practices. All the lenders in our network operate within the stated limits. We encourage borrowers who anticipate delinquency or default payments contact corresponding lender as soon as possible.
How many loans can one take at a time?
The number of credit products taken simultaneously as well as the “cooling time” terms are determined by the laws of each state (if applicable). Additionally, every lender reserves the right to determine the maximum of simultaneous and/or consequent credit agreements within the limits of applicable laws. It’s recommended to inform a lender about current credit standing and the facts of defaulted loans before any agreement is signed.