Frequently Asked Questions

PersonalLoansPlus.com provides a marketplace service where your loan request is submitted to a network of reputable lenders. Our service is always free. There is never a cost to you for submitting an inquiry. Your lender will have its own rates and fees that will be provided to you before you accept the loan. PersonalLoansPlus.com is not a lender and does not make credit decisions.

New customers may have questions about PersonalLoansPlus.com, which is why we have compiled the most common questions below. If you have a question that is not answered here, we are happy to answer your questions. Just complete the form on the Contact Us page and we will get back to you quickly.

If you have questions regarding a loan inquiry, approval, funded loan, payments or any other question about a particular loan, please contact your lender directly. If you received a loan, you should already have the lender’s contact information. Since we are not the lender, we cannot answer questions about pending or approved loans.

Personal loans might be called different things, but they’re all designed to provide you with temporary financial relief.

Most lenders require you to:

· Be employed in your current position for approximately 90 days

· Be at least 18 years old, and a US citizen or a permanent resident

· Have an income of approximately $1,000 per month after tax withholdings

· Have a valid email address, work phone number and home phone number

The amount a lender is willing to give you depends on how the lender evaluates a number of factors, including your state of residence and applicable legal restrictions (loans are not available in all states). Many lenders in our network will loan between $100 and $5,000.

Once the lender approves your loan and you accept the loan terms, your loan will be deposited directly in your bank account, usually as soon as the next day.

Personal loans generally are offered for people with good credit, although each lender has its own underwriting policies. An alternative for those with bad credit may be to seek a short-term consumer loan. If we cannot find a lender that can offer you a personal loan for the amount you requested, we will search our network of short-term lenders to see if we can find a short-term lender for you.

It should only take a few minutes to complete our secure online form. After we receive your information, we immediately start looking for a lender that is willing to work with you. You should have a response from one of our lenders within minutes. Final approval and funding are often done in as little as 24 to 48 hours.

Some lenders will ask for your permission to access your information such as bank statements or income verification online, saving you from having to fax or email copies of those documents. However, your lender might need you to fax or email a copy of your bank statement, paycheck stubs or other information. If you do not have access to a scanner or printer, consider visiting Office Max, Kinkos or another office service provider. You should also have access to a printer so you can print a copy of your loan agreement. If you have questions after your loan is funded, you will need your lender’s contact information!

There is no cost to use PersonalLoansPlus.com’s marketplace service. The actual cost of your loan may vary by lender. You will be provided information on the rates and fees before you accept the loan. Personal loans are not designed as long-term financial solutions but are often less costly than late charges, NSF fees or reconnect fees for overdue utilities. Please only accept a loan if you believe you have the ability to repay it.

You may be allowed to secure more than one personal loan at any given time, but this will depend on your state’s laws as well as your lender’s practices. If you have an outstanding personal loan or other personal loans, you should let your new lender know about it before you accept a new loan.

If you have selected the convenient and secure ACH payment option, your loan payment will be withdrawn from your bank account on its due date. This option is designed for convenience and helps you avoid potential late fees or default! If you need an extension on your loan, please contact your lender before you miss a payment (additional fees may be involved).

Each lender has its own late payment policy and fees. Check your loan documents for details or contact your lender directly. Some states may regulate or limit late fees.

We use industry-recognized security and advanced encryption technology to protect your personal information. Your information is transmitted and stored securely in an encrypted format. Please review our privacy policy for additional details.

You can use our service to get a new loan at any time (subject, of course, to state law restrictions). If you have recently taken out another personal loan that is still outstanding, please inform your new lender before accepting a new loan.

The rules on extensions or “rollovers” vary among lenders and also may be regulated by state law. Some states allow for multiple rollovers while others do not allow it at all. If you need an extension on your loan, make sure to contact your lender before you miss any payments. Most lenders will work with you to help you avoid missing payments or defaulting on your loan.

If you can’t make your loan payments on time, you may be in default of your loan obligations. If that happens, your lender may try and secure repayment from you using debt collection methods that are professional, fair and in compliance with the law. Lenders should follow the Fair Debt Collection Practices Act guidelines when attempting to collect loans in default. Late payments and loan defaults may adversely affect your credit and may make it difficult to obtain future personal loans.

 

If you can’t make your payments on time, don’t ignore it! Talk to your lender ahead of time and see what they can do to help you make the best of the situation.

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Consumer Notice: Personal loans are not a long term financial solution. Borrowers facing debt and credit difficulties should seek professional financial advice. Borrowers are encouraged to review local laws and regulations governing personal loans.

Availability: This service is not available in all states. Please review local laws and regulations for availability in your particular state. The states this website services may change from time to time without notice. All actions taken on this site, or legal concerns addressing this site, are deemed to have taken place in Nevada, regardless of the location from where you access this site.

Disclaimer: This website does not constitute an offer or solicitation to lend. The operator of this website is not a lender and does not make credit decisions. Rather, we provide a marketplace service where we connect you with lenders in our network. We cannot and do not control the actions or omissions of lenders in our network. We are not an agent, representative or loan broker to any lender and we do not endorse any particular lender. Our marketplace service is always free to you. If you are ever asked to pay a deposit or advanced payment in order to get a loan, you should not proceed.

You are under no obligation to use our marketplace service to initial contact with or apply for a loan with any lender.

Subject to our Privacy Policy (which you should carefully read and understand), we will transfer your information to lenders in our program and to other service providers and marketing companies we do business with. We do not guarantee that you will be connected with a lender or obtain favorable rates or be approved for a loan by completing a form on our site.

Participating lenders may verify your social security number, driver’s license number or other federal or state identification, as well as review your credit worthiness through national databases that may include Equifax, Transunion, Experian and other credit bureaus. By submitting your information to us, you agree that lenders may obtain such credit reports and verify your information.

Not all lenders can provide you with a loan. If you are approved, you will receive funds according to the lender’s funding practices which vary from lender to lender. Repayment terms also vary from lender to lender and may be affected by state law. If you have questions about the loan terms offered to you, or about a loan that has funded, please contact the lender directly. We are not a lender and cannot give you loan-specific information.

You will not be charged a fee for using our service. Loan-related fees are controlled by the lender and will be disclosed to you before you accept the loan. If you do not want to incur loan-related fees or you are unable to repay your loan, do not accept the loan.