Most popular questions here.
Opploans is a matching service which submits your inquiry to its network of lenders. There is no cost for submitting an inquiry. The fees and rates are quoted directly by the lender which is matched to your profile. example.com is not a lender and will not provide you or anyone else with lending services.
It is understandable for new customers to have questions about example.com which is why we have compiled the most common questions into this FAQ. If you have any question not answered in this FAQ we'll be glad to answer them. All you've got to do is to contact us and allow some time to receive an email response.
Any questions pertaining to loan payments, application status and extensions etc need to be directed to the lender to whom you submitted your application to. Once your application has been submitted on the lender's website you'll receive the lender's contact info.
What is a Opploans
A Opploans is a short term cash loan that doesn't include all the strict requirements that a traditional bank loan has. Opploans are quick, easy and convenient so consumers can address short term and immediate financial needs, like emergency home or auto repairs, unexpected medical bills, or in times where you're falling just a bit short on your budget before next payday.
Do I Qualify For A Payday Loan?
Qualifying for a payday loan is simple. The basic requirements are: - You must be at least 18 years of age - Have a regular source of income, either through employment or benefits - You must have an active bank account that allows for direct deposits To be approved for a payday loan, you must meet the basic requirements above. The specific lender you are matched with may have additional eligibility requirements based on its own approval criteria. Factors such as income, direct deposit of your pay, past payday loan history and state of residence may affect the approval of your loan or the amount that you are approved for.
How Much Can I Borrow
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 $1,000.
Can I get a loan even with bad credit or bankruptcy?
Yes! Opploans is partnered with lenders who specialize in lending to those with less than perfect credit. Unlike traditional lenders that only consider your credit score, we look at additional areas of your finances, including time of employment, income and other factors. Our lenders' flexibility allows for applicants with good credit, bad credit or no credit to be approved for a loan as long as they meet the minimum eligibility qualifications of a steady source of income and an open bank account.
How Can I Tell If I’ve Been Approved For A Loan?
If your application has been approved, Opploans will notify you and direct you to your lender’s loan agreement page where you can review and electronically accept the rate and repayment terms. You will also receive an email confirmation with a link to the loan agreement page.
When Will I Receive My Loan After Receiving Approval?
Once your application is approved and you've electronically signed for your loan, funds are directly deposited into the borrower's checking account. Deposit times may vary based on personal eligibility. Funds usually are deposited into your bank account by the next business day.
How Much Will A Loan Cost?
Cost of Borrowing varies and is based on a borrower's personal eligibility for a loan. Upon approval for a loan, rate and repayment terms are presented to you. Remember, no loan is issued unless the borrower electronically accepts the rate and repayment terms.
How long do I have to pay back the loan?
Your loan is typically due on your next pay date. However, some lenders will allow for extended repayment options for a fee. Please contact your lender directly if you have repayment questions.
What happens if I’m late with a payment ?
Opploans is a loan matching service provider, not a direct lender. The lender you are matched with has its own policies regarding late payments. These policies can be reviewed within the lender's terms and conditions before accepting a loan. If you are unable to make a payment on time, please contact your lender directly discuss an alternative payment schedule.
How is my private information protected ?
What happens if I’m not able to repay my 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.