Commonly Asked Questions

Our goal is to make things as simple and hassle-free as possible. If you have a question regarding the loans services that are available, please take time to scan through some of our most commonly asked questions.

Car Loan FAQs

Q: What type of auto finance services are available?
A: A variety of car loan programs are available for people with bad credit, good credit, and no credit. Additionally, both new and used car loans are available.

Q: I want to purchase a vehicle from a private party, is that possible? 
A: 
At this time, car loans are available through dealers only.

Q: I have a prior repo due to a sudden job loss, can I still qualify?
A:
 Our network of lenders specializes in helping people just like you. Many people who have past repossessions, discharged bankruptcies, and even judgments have qualified for all types of loans.

Q: Will I need a large down payment in order to get approved for an auto loan?
A: Generally only a small down payment is required, but each situation is unique, so you will definitely want to find out about down payment assistance programs, and no down payment programs that might be available for you.

Q: What car loan offers are available for first-time buyers with no previous auto credit?
A: Our lenders certainly understand that you have to start somewhere, and are more than willing to give first time buyers a chance to establish their credit. The loan approval will depend upon your personal financial factors including your income, employment history, and down payment.

Cash Loan FAQs

Q: When I go to the application page, the url in my browser changes from http to https, what does this mean?
A: The https:// stands for “Hyper-Text Transfer Protocol Secure”. This means that the personal information that you submit is securely transferred on the server.

Q: I have bad credit, will I need a co-signer for a cash loan?
A: No, when you apply for a payday advance loan, a co-signer is not necessary.

Q: Where do I go to apply for the cash loan?
A: You can apply online here, there is no need to go anywhere.

 Q: Do I need to have good credit to qualify for a payday loan?
A: No, unlike a conventional bank loan, cash loan approvals are typically not based upon credit. Lenders may however, go through various credit agencies to make sure that you don't have other outstanding loans.

Debt Relief & Management FAQs

Q: I am interested in consolidating my bills, where do I start?
A: First, you may request a free initial consultation from a debt specialist. Next it will be up to you to decide the route you want to take.

Q: How does debt consolidation work?
A: Debt consolidation is a step taken by many people to reduce their monthly debt. By consolidating debt, you are refocusing your efforts into becoming debt free without filling for bankruptcy.

Q: Can I qualify for debt consolidation if my credit is bad?
A: Of course, bad credit is not an obstacle for our debt consolidation experts. 

Q: What are the advantages of consolidating debt?
A: Many people with multiple monthly obligations take advantage of consolidating their debt. Instead of having to worry about paying several different accounts, the accounts are combined, resulting in one single monthly payment.

Personal Loan FAQs

Q: Is there an application fee?
A: There is no charge to apply for a personal loan through FinancialLitNow.org.

Q: After I submit the application, does it take days or weeks to be approved for the personal loan?
A: No, when you apply online, the application process is very fast, when you submit your information, it is received by a loan officer immediately. As long as you filled out the application correctly and completely, you should not experience any long wait times.

Q: Will I need to have a high credit score for a personal loan approval?
A: Not necessarily, of course the higher your credit score is the better, but bad credit personal loans are available for those who have prior credit issues.

Q: What will the interest rate be on personal loans?
A: This is something that your lender will disclose to you before entering into the agreement wtih you. Lenders often determine the interest rate based on your credit history and the information in your loan application.

Read more: http://www.bankrate.com/finance/credit/credit-score-interest-rates.aspx#ixzz3jm8TXW3I 

Title Loan FAQs

Q: What is a car title loan?
A: A title loan is a type of secured loan in which the title to your vehicle is your collateral.

Q: Will I be able to use my vehicle while I have the loan?
A: Yes, you will keep your vehicle and use it as normal.

Q: When will I get the title back?
A: As soon as the loan is repaid, the vehicle title will be released to you.

Q: Can I get a title loan while I am still making payments on it?
A: No, you must have a free and clear title with no other lienholders on the title.

Q: Can I get an auto title loan with bad credit?
A: Yes, you can be approved regardless of your past credit problems. Many people with discharged bankruptcies, judgments, and repossessions are approved for car title loans daily.

Other Important Information

Please be aware that lenders in our network may query various consumer databases, including but not limited to: Experian, Equifax, TransUnion, CL Verify, TeleTrack, or DataX.

Before agreeing to any credit services, you should know the following:

Who the Creditor is
Financed Amount
APR
Total of Finance Charges
Total Number of Payments
Date Payments are Due
Additional Fees for Late Payments

It is your responsibility to clarify any questions about any loans or other financial services that you wish to obtain with the lender or service provider. The providers in our network are compliant with all state and federal laws and regulations, and will make every effort to assist their customers in making timely payments to avoid any potential financial troubles.

Potential Late and Non-Payment Implications

Late/Non-Payment Fees – Late fees may be assessed when payment is received by the lender after the late/due date specified on the statement of account, or when the balance due is not paid in full. Additionally, you may be assessed with a returned item charge if any check or electronic payment is returned unpaid (late fee and returned item fees vary by state – see your loan agreements for specific details).

Collections – Lenders will attempt to collect any delinquent amount through standard collection practices, which include contacting you by phone, mail, or email. They may also exercise their rights under the loan or credit services agreements with you. If they are unable to collect any delinquent amount you may have with them through such actions, they may also sell their debt to a third party debt buyer or engage a collection agency, who may also engage in collection activity with you.

Credit Score Impact – Failure to make timely payment on your loan may reduce your score with credit bureaus. This might prevent you from receiving credit or other services from another provider that uses such agencies.

Please be advised that small cash loans may be appropriate for short-term financial needs, but should not be considered as a long-term financial solution. Consumers with severe credit problems may need to seek the advise of a credit professional.


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