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- What is a payday advance loan
and is it known by any other names?
- Can I get several payday advance
loans at the same time?
- For a payday advance online,
application, how do I get the money?
- If I repay the payday advance loan
on time, what are the benefits to me?
- What do I need to qualify?
- Am I disqualified from a loan because I may have
a poor credit history?
- What if I filed bankruptcy?
- Is collateral required?
- How long does it take to get the money?
- What happens if I don't follow through and repay
my loan?
- What should I do if I don't think I can repay
the money by the due date?
- Is this transaction confidential?
- What is a Demand Draft?
- What is an ACH?
- What are the charge rates for
a Friendly Banker loan?
- What is a payday advance loan?
Short-term cash advance provided until your next payday. These
short-term loans are also known as payday loans, payroll advances,
and cash-til-payday loans.
- Can I get several payday advance
loans at the same time?
No. Only one (1) payday loan can be outstanding at any given time.
However, by calling toll free (800) 646-2274, a customer service
representative may be able to assist you with a larger loan.
- With an online payday advance,
how do I get the money?
Once approved, we will credit your account with the loan proceeds,
normally the next business day except on Friday, Saturday, and Sunday.
When your loan is due, we will debit your account for the amount
financed as well as the finance charge.
- If I repay the loan on time, what are
the benefits to me?
Customers with a good repayment record receive our VIP services,
which include expedited servicing and discounted rates.
- What do I need to qualify?
If you are employed or have some form of guaranteed income, SSI,
SSDI, etc., you can apply for a payday loan. 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
to receive a cash advance until your next payday.
- Am I disqualified from a loan because
of a poor credit history?
Not necessarily. We are here to assist customers when the need
arises. Many of our current customers have credit difficulties
from time to time. A payday loan can help you deal with this short
term situation.
- What if I filed bankruptcy?
You may still qualify for a Friendly Banker loan, if the bankruptcy is
discharged, subject to our normal employment and residency requirements.
- Is collateral required?
No. You simply authorize a Demand Draft and/or ACH from your checking
account.
- How long does it take to get the money?
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.
- What happens if I don't follow through
and repay my loan?
We would not stay in business if our customers did not honor their
agreements. We do reserve the right to collect delinquent debts
using all legal remedies available including legal debt collection
and civil court action.
- What should I do if I don't think
I can repay the loan on the due date?
Call us immediately. A "returned electronic debit" could cost
you substantial "NSF" fees by your bank and can also damage your
credit rating. While your obligation to repay the loan is not
waived, we will attempt to assist you.
- Is this transaction confidential?
Yes. This internet application is secured by "SSL" encrypted technology.
In addition, all your records are held in confidence at our electronic
commerce center.
- What is a Demand Draft?
A check created in lieu of your personal check per your authorization.
- What is an ACH?
An ACH (Automatic Clearing House), is the electronic system setup
by banks to transfer funds between themselves.
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