FAQs
safeloansbyphone.com is a marketplace that submits your loan request to a network reputable lenders. You will never be charged for using our service. You will be informed of the rates and fees charged by your lender before accepting a loan. safeloansbyphone.com does not act as a lender or make credit decisions.
We understand that new customers might have questions regarding safeloansbyphone.com. Below, we've compiled some of the most frequently asked questions. We are happy to answer any questions that you may have. Please fill out the Contact Us form and we'll get back to your quickly.
Please contact your lender if you have any questions about a loan inquiry or approval, a funded loan, payment, or other issues regarding a specific loan. You should have already received the contact information of your lender if you were granted a loan. We are not the lender and therefore cannot answer any questions regarding pending or approved loan.
- What does a personal loan mean?
- Can anyone qualify for a Personal Loan?
- How Much Can I Borrow?
- When will I get my loan money?
- Can I get a loan if I have a bankruptcy or bad credit?
- How long will the process take?
- Do I need to buy a fax or printer?
- How much does a short-term consumer loan cost
- Is it possible to obtain a cash advance loan if I have one that is still outstanding?
- How and when do I pay back my loan?
- What will happen if I am late with my payment?
- How do I protect my personal information?
- How soon can I apply for another loan?
- Can I extend my repayment period and for how many times?
- What will happen if I am unable to repay my loan
- What does a personal loan mean?
Personal loans are available in many different forms, but all of them provide temporary financial relief.
- Can anyone qualify for a Personal Loan?
Most lenders require you to:
- You must be employed for at least 90 days in your current job or have another reliable source of income.
- You must be at least 18 and either a US resident or citizen.
- You have an income of about $1,000 per month, after taxes.
- You must have a valid work email, home phone and a working phone.
- How much money can I borrow?
The amount of money a lender will lend you is determined by a variety of factors. These include your state of residency and any applicable legal restrictions. (Loans aren't available in every state). Our network has many lenders who will lend between $100 and $5,000.
- When will I get my loan money?
After the lender has approved your loan, and you have accepted the terms of the loan, the money will be directly deposited into your account. This can happen as early as the following day.
- Can I get a loan if I have a bankruptcy or a bad credit rating?
Personal loans are generally only offered to people with good credit. However, each lender has their own underwriting policy. A short-term consumer credit could be an alternative for people with bad credits. We will search for a short-term loan provider if we are unable to find a lender who can provide you with a personal credit for the requested amount.
- How much time does it take to process a request?
Our secure online application should take you only a few moments to complete. We immediately begin searching for lenders who are willing to work with us after receiving your information. Within minutes, you should receive a reply from one of the lenders. The final approval and funding can be done as quickly as 24 to 48 hour.
- Do I need to buy a fax or printer?
Some lenders may ask you for permission to access information, such as your bank statement or income verification, online. This will save you the hassle of having to fax and email copies. Your lender may require you to send a fax or an email with a copy your bank statement or pay stubs. Consider visiting Office Max or Kinkos if you don't have a printer or scanner. If you do not have a scanner or printer, consider visiting Office Max, Kinkos or another office service provider. You will need the contact information of your lender if you have any questions about your loan after it has been funded.
- What is the cost for a short-term consumer loan
The marketplace service of safeloansbyphone.com is free. Actual loan costs may vary depending on the lender. Before you accept the loan, you will receive information about the interest rates and fees. Personal loans aren't meant to be long-term financial solutions, but they are usually cheaper than late fees, NSF fees and reconnect fees for utilities that are past due. Accepting a loan is only advisable if you are confident that you can repay it.
- Is it possible to obtain a cash advance loan if I have one that is still outstanding?
It is possible to obtain more than one loan, depending on the state laws and lender practices. You should inform your new lender if you have a personal loan outstanding or any other type of personal loan before accepting a new loan.
- How and when do I pay back my loan?
If you choose the convenient, secure ACH option to pay your loan, it will be deducted from your account at its due date. This is a convenient option that helps you avoid late fees and defaults! Contact your lender if you need to extend your loan before you miss any payments (additional charges may apply).
- What will happen if I am late with my payment?
Each lender has their own policies and charges for late payments. Contact your lender or check your loan documents to find out more. Late fees may be regulated or limited in some states.
- How do I protect my personal information ?
Protecting your personal information is our top priority. We utilize industry-recognized encryption and security technologies. Your data is stored and transmitted in a secure format. Please read our privacy statement for more information.
- How soon can I apply for another loan?
Our service allows you to obtain a new loan whenever you want (subject to the restrictions of state law). Please inform your new lender if you recently took out another loan and it is still outstanding.
- Can I extend my repayment period and for how many times?
State laws may also regulate the rules for "rollovers". The rules for extensions vary between lenders. Some states permit multiple rollovers, while others don't. Contact your lender as soon as you realize you will be missing payments if you require an extension. Most lenders are willing to work with you in order to avoid you missing payments or defaulting.
- What will happen if I am unable to repay my loan
You may be in default if you don't pay your loan on time. Late payments and defaults can negatively affect your credit score and make it harder to get future personal loans.
Don't ignore the fact that you are unable to make your payment on time! Speak to your lender in advance to see what you can do.