FAQ

We want to ensure that you are fully informed before making a decision about payday loans. To help you understand the service better, we have answered some questions you might have below.

If you have any questions, concerns, or problems that you need assistance with regarding John Thomas Financial, refer to the list of common questions below. If your specific query is not answered on this list, do not worry! We have a customer service team full of experts who will be more than happy to help get you the answers and support that you need.

What Are Short-Term Loans?

Short-term loans are, as the name suggests, borrowed funds that need to be repaid within a shorter timeframe than usual. These types of loans can come in handy for personal emergencies or when business owners require immediate capital. Interest is typically charged on short-term loans.

Depending on the lender, an individual usually has 1-4 weeks to repay a loan received through Emergency Cash Advance. However, depending on numerous factors— such as amount lent and installments allowed by the lender—this time limit may be shorter or longer. Interested applicants typically receive around $1000 but this number varies based upon need and what funds are available.

How Do I Qualify for Approval?

After you fill out the online form with your basic personal information, all you have to do is attach the following documents:

• In order to verify your identity and residence, please provide a valid ID.
• The applicant must Proof of Legal Age, which the law requires to be at least 18 years old.
• A document that verifies a dependable income, like a salary certificate or pension, is required.

The government’s Consumer Financial Protection Bureau (CFPB) requires that you have an active personal bank account to receive money deposited there and make automatic repayments when they come due. However, a lender may request additional personal information or documents in some cases.

Can You Get a Payday Loan if You’re Unemployed?

We realize that not everyone who requests a loan is currently employed. If you don’t have a job, we will base our decision on your affordability. In other words, lenders need to know if you’re able to repay the borrowed money. You must provide some sort of proof of income like self-employment earnings, government grants, retirement savings, pensions or evidence that your partner regularly covers expenses. All payday lenders are different so even if you get income sporadically, there’s still a good chance you’ll be approved.

What’s the process for taking out a payday loan?

John Thomas Financial offers quick and easy access to cash. Our online application and approval process is available 24/7, so you can apply for a loan at any time. Just fill out our online form, stating the purpose of the loan and attaching any necessary documents.

How Long Does It Take To Get Funds to my Account?

At John Thomas Financial, we are dedicated to providing prompt decisions and quick service. With our 24/7 accessibility, most decisions only take a couple of minutes. Furthermore, our team uses analytic tools to search for the best lender with the best deal based on your current financial situation–all taking no longer than a few hours from start to finish.

After you receive the loan agreement, you will need to decide if the terms and conditions agree with you. If they do, then sign the document online with an e-signature and send it back to the lender. The funds will become available in your account as soon as they received your signature.

Although payday loans usually have a fast turnaround time, it ultimately depends on you, the lender, and your bank. Therefore, processing delays are possible.

Can I Get a Loan Even With Bad Credit?

Although payday loans may come with a sense of apprehension for customers – who might worry about not passing the verification process, particularly if they have a low credit rating or reputation – John Thomas Financial is understanding. We know that individuals might only be borrowing this money because they’re going through tough times.

Fortunately, part of our job is to negotiate with lenders so that everyone has the opportunity to get assistance. The best part is, since this loan doesn’t require collateral, you don’t need to prove that you have assets in order to be approved.

Although lenders generally do not check your FICO credit score, if they happen to look into it and find negative spots in your credit history, the loan amount may be reduced or fees could be increased.

Can I Take Multiple Credits at the Same Time?

The number of credit products you’re able to have at one time is based on the details of your loan agreement. There are also cooling-off periods– intervals where you can’t take on more credit–so be sure read the terms carefully and talk it over with your lender before agreeing to anything.

The lender has the right to set terms and limits in the loan agreement for every individual borrower. The number of credits you get can also be directly affected by state laws, which may not allow you to take more than one at a time.

How Much Money Can I Borrow?

The average American borrows $375, and many of our clients apply for a similar amount. We always try to offer the best possible interest rate to our customers as long they meet our qualifications for repayment.

The more successful deals you finalize, the higher your chances are of acquiring a greater amount. If you need a larger sum upfront without tempting the likelihood of being Paid Late , we’ll also offer and recommend an installment plan.

Can My Payday Loan Be Renewed?

Although it’s not the best option, you can renew a loan if you find yourself in a situation where repayment is not possible.

If you renew your loan, you may have to pay additional interest. Always discuss renewal terms with your lender so that you are aware of any extra expenses that could worsen your financial status. Also, make sure to check the laws in your state asrenewing a loan might not be allowed.

What Happens If I Cannot Pay on Time or at All?

If you’re having trouble making payments, take a look at the terms and conditions of your loan agreement to see what will happen if you default. It’s always a good idea to speak with our experts or your lender as soon as possible so that we can help you find a solution.