Www-Brookwoodloans.com provides many types of personal loans such as short term loans - payday loans, cash advance loans and installment loans - personal loans. We makes online loans easy by providing instant cash on fast loans and we always offer fast cash service to provide you with some quick cash so you can get back to your life.
This is a list of the questions that Www-Brookwoodloans.com is asked most frequently about the process of obtaining loans and the industry in general.
Brookwoodloans is loans matching services – we take your short-term loan, payday loans, installment loans and personal loans request and work with our nationwide network of trusted lenders to present you with a list of lenders that will offer you a loan. There is no cost for using our service.
Payday Loan FAQ:
Q. What are online payday loans?
Short term loans are generally small sums of cash—between $100 and $1,000—that are made available to consumers in the event of financial emergencies. This cash is generally available to applicants on the business day following their approval.
Q. What are installment loans or online personal loan?
Online installment loans or personal loan are medium term loans that are paid off in monthly installments in most cases. The terms of online installments provided by our lenders are usually limited to 24 months. The lenders you can be matched with via this website limit the amount of online loans to $3,000+.
Q. What are the qualifications?
You may be approved for a short term loan or an online personal loan even if you have been turned down by banks and credit card companies in the past. We can successfully match the users who provide their information via our online form and request to be matched with one of our lenders. General qualification requirements are the following:
1. You must be at least 18 years of age, and you must legally work and live in the United States;
2. You must have a working telephone number and email address, and you must have a bank account in your name;
3. You must be employed for at least 90 consecutive days with the same employer and meet minimum income guidelines.
Q. What Is the Maximum Amount for a Short Term Loan and Installment Loan?
The total amount of money that you will be permitted to borrow depends on several factors which include the terms provided by lenders, the state in which you live and your unique financial situation. The maximum amount of short term loan is limited by $1,000. The maximum amount of online personal loan is limited by $3,000 to $5,000+.
Q. How Will I Get My Money?
In most cases, your lender will deposit the funds into your bank account on the business day following your loan approval and the receipt of your electronically signed loan agreement.
Q. What If I Have Bad Credit?
It's possible that the lenders in our network will need to perform credit check as a part of the qualification process. In many cases your bad credit or your lack thereof will not be the major factor to influence the final decision to approve or reject your loan request. As long as you can meet the basic guidelines, there is a very good chance that you will be approved for a short term loan or an online installment loan.
Q. How Long Will It Take?
From start to finish, the entire process can take as little as one business day. First, you will fill out our short two-minute online form. Once you have submitted it, it will be forwarded throughout our network of lenders that provide short term and online personal loans. Then, you will be matched with a lender from our network who may offer you a loan according to your requirements. Soon after you will be forwarded with loan details for your revision to let you make your final decision about the offer. If you decide to provide your electronic signature, your lender may be able to deposit the funds into your bank account on as soon as the following business day in most cases.
Q. How and When Will My Short Term Loan Be Repaid?
The terms for repaying your loan will be listed in your loan agreement. The terms for short term loans vary based on your lender and your individual situation. To make things simple for you, if you opt for direct withdrawal option while closing the loan deal, your lender will simply withdraw the amount of your loan plus any applicable fees and interest from your bank account on the repayment date. You will not have to visit a retail location or mail a check or money order. This paperless process also helps to negate the possibility that your payment will be received late. If you need an extension, you should contact your lender. Please keep in mind that extensions on your loan will be associated with additional fees, charges and possible penalties.
Q. How and When Will My Online Personal Loan Be Repaid?
Online personal loans are repaid in a series of equal monthly installments. The term and schedule of loan repayment depend on a particular loan agreement you close with your lender. Regulations in different states may apply. We have no information concerning your agreement or loan deal with the lender we've matched you with. You should contact your lender to get the details of your online personal loan terms and repayment schedule.
Q. What If My Payment Is Late?
You should always contact your lender as soon as you are aware that your payment will be late in order to try to avoid penalties and additional charges. States regulate the maximum amounts that lenders can charge in the form of late fees differently. Make sure to compare these maximums with any late payment fees or other penalties you are quoted by your lender.
Q. How Much Does It Cost?
The matching service provided by the website is always free of charge. You can fill out the online form on the website as many times as you need. You can also terminate registration on the site at any point of time before you finish filling out the form and submitting it for processing.
The overall costs associated with obtaining a short term loan or an online personal loan are ultimately determined by the lender in accordance with the regulations in your state of living. We will never charge you for the service provided by LoanSolo.com. Please, take the time to review the loan offer you receive very carefully for the rates and fees associated with your loan as well as any late fees or interest that may be charged if you fail to repay your loan on time. Lenders are required to provide this information in details.
The APRs associated with short term loans are higher than those associated with other forms of credit. Since these loans are intended to be repaid quickly, they are highly competitive with the rates associated with other forms of credit, overdraft fees and bounced checks as long as they are repaid on time.
The APRs associated with online personal loans may be lower than those associated with short term loans. However, online personal loans are repaid over a longer period of time and may incur additional fees, for example origination and documentation fees.