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FREQUENTLY ASKED QUESTIONS
Why is InstantLoansNow.com different?
We make getting a payday loan online quick and convenient. As long as all the
information on your application can be verified, NO FAXING of documents is
required. Everything is electronic. We also offer several options you won't see
anywhere else.
- You can get an increase on your payday loan amount.
- You can extend your payday loan by paying only the fee.
- You can extend your payday loan by paying the fee plus part of the principal.
- You can pay off your payday loan early.
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What is a payday loan?
A payday loan or cash advance provides you with emergency cash when you need it
most ... usually between paydays! Simply complete our fast two-minute online
application, there are normally no documents to fax. Just complete your
application, speak to one of our loan agents and your cash could be on the way,
usually the next business day!
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What is a faxless payday loan?
A faxless payday loan is a loan that doesn't require you (the borrower) to fax
any information to our call center for loan approval. While almost all
applications are processed without any faxed documents, we occasionally cannot
verify some of the information in your application. In this case, we may
request that you fax in several documents.
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What do I need to qualify?
Qualifying is easy and you don't need to worry about your credit. You can
qualify if you:
- Currently have a job (or receive regular income)
- Make at least $1000 per month
- Are 18 years of age or older and a U.S. citizen
- Have a checking account
- Other requirements may apply
Even bankruptcy, bounced checks, charge-offs and other credit hassles don't
prevent you from getting the payday loan you need!
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What happens when I fill in the application?
- We will review your application. We will call to verify your employment and other application information.
- If approved, we will deposit the money into your checking account the next business day. If we are not able to fully verify all of your application information by 4:00 PM Eastern time, the money will not deposited until the second business day. We cannot make deposits on bank holidays or weekends.
When will I hear back from you?
We will contact you by either email or phone within one hour about the status
of your loan during normal business hours, Monday to Friday, 8:00 AM to 8:00
PM Eastern time. For applications submitted after-hours, we will contact
you first thing the next business morning.
How much will the loan cost?
View
Fee Schedule
What is the cost of credit?
In this example, the user has taken a loan of $300.00
FEDERAL TRUTH-IN-LENDING DISCLOSURES
ANNUAL
PERCENTAGE RATE
|
FINANCE
CHARGE
|
Amount
Financed
|
Total
of Payments
|
782.14
The cost of your credit as a yearly
rate. |
90.00
The dollar amount the credit
will cost you. |
300.00
The amount of credit provided
to you or on your behalf. |
390.00
The amount you will have paid
after you have made all payments as scheduled. |
View
Fee Schedule
How long until I get the money?
Normally, we will deposit the money into your checking account the next
business day. If we are not able to verify all of your application information
by 4:00 PM Eastern time the money will not be deposited until the second
business day. We cannot make deposits on holidays or weekends.
What if I want to cancel the loan?
To cancel the Loan Agreement, you must fax or email to us written notice of your intent to cancel prior to 5:00 PM MountainTime on the Disbursement Date.
How do I qualify for a $500 loan?
On your first loan with us, you can borrow up to $300. Once you pay off your
first loan, apply again and are approved, we can increase your loan amount up
to a maximum of $500 based on income requirements.
Can I pay my loan back early?
Yes! you can pay your loan back early. Contact us to at least 3 business days
before your due date to let us know that you want us to debit your account
early. You will be entitled to a refund or discount of the fees.
When do I repay my loan?
Paying off your loan is easy with InstantLoansNow.com! There are 3 options for repayment of your loan. You can pay your loan off in full on your due date. You can refinance your loan and pay the finance fee plus pay as much as you like toward the principle. With a lower principal amount owed, your finance fee will be less with each refinance. You can also pay the finance fee only and renew the entire amount of your loan until your next pay date. It is important to note that if you renew your loan in full, the amount due will not change until principle payments are made.
If you would like to reduce your loan amount, pay in full,
or pay the finance fee only, simply login (link to login) to your
account or email us with your instructions or call us at 866-735-4015
during our normal business hours of 8:00 AM to 8:00 PM Eastern time and one of our
representatives will assist you. If we do not hear from you we will have to set your
loan to pay in full on your next payday. Please keep in mind that the maximum term of the
loan and all extensions cannot exceed 10 weeks .
In which states are you authorized to provide payday loans?
Please note our loans are not available to the residents
of ID,MO,NC,NV,OR,WV,CO,OK,WA,NY and GA. We are a Utah registered lender.
Our loans are governed by Utah law. Utah law governing consumer
loan agreements may differ from the laws of the state where you reside.
If you do not want to enter into a loan agreement subject to Utah law, you should
apply for this loan at a lender located in the state where you live. Applicant is
responsible for complying with all statutory obligations regarding obtaining loans by
internet that may exist in their state of residence. This service may or
may not be available in your particular state.
Do you check my credit or report my information to any credit bureaus?
We do not check traditional credit reports nor do we report any information
which might affect your FICO™ credit score. As part of underwriting your
application we will do a limited credit check with DP Bureau and/or Teletrack,
which are specialized subprime credit bureaus serving the payday advance
industry. These inquiries are subject to federal law and your privacy and
rights are guaranteed by the Fair Credit Reporting Act.
Why do we need your home phone number?
Upon completing the online loan application, we may need to contact you for
additional information in order to process your loan in a timely fashion. Where
possible, we will contact you via e-mail. In most cases, we WILL NOT contact
you at home in order to process your application.
Why do we need to know your work phone number?
Like any lender, we are required to confirm your employment prior to sending
your cash. Please be aware we DO NOT tell your employer you are applying for a
payday loan. If you are not employed, but have regular income you can still
qualify for a payday loan. Enter your home number in this field or leave it
blank if you have benefits income and are not employed.
Why do we need to know your monthly income?
The amount you qualify for is determined by your personal and unique situation.
A number of factors are considered in order to determine how much cash we can
give you, including the amount of take home pay you receive monthly. PLEASE DO
NOT OVERSTATE YOUR INCOME. If you are not employed, but receive regular
benefits income, please enter the amount you receive per month. You must have a
net income of $1,000 per month or benefits income of at least $800 per month to
qualify for a payday loan.
Why do we need to know how often you are paid?
Knowing how often you are paid helps both you and us know when you will be able
to re-pay your payday loan (either in full or finance fees only, see your
personal loan documents generated at the end of this application for exact
details). If you are not employed, but receive benefits income, please let us
know how often you receive your benefits income.
I don't have a printer and I want to print a copy of my loan documents. Can I
get my documents another way?
Yes! If you do not have a printer handy, there are several ways to get copies
of your documents to you.
- We can fax them to any fax number you request
- We can email them to any email address you request
- To make these special arrangements, please call us at (866) 735-4015
Is my loan secure and confidential?
Absolutely! We transact all our loans on our secure server, utilizing the
industries highest standard. Your nonpublic information is completely
confidential and protected by our company privacy policy.
What web browser should I use with your website?
While we try to support all web browsers, our website is optimized for
Microsoft Internet Explorer.
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