Q1: Will we need to pay any upfront charges with your personal funding services?
A: No upfront fees or application fees are charged on any of our services?
Q2: How many trade lines/credit accounts will I need to have reporting on my credit in order to qualify for funding?
A: You will need at least 3 open and active Primary trade lines on your credit report. Trade lines should be at least 1 year old however 2 years are preferred.
Q3: Can a co-signer be used when applying for a personal loan?
A: No, a co-signer may NOT be used. Whoever is on the loan application must meet all qualifications for funding.
Q4: What is the minimum credit score required to obtain a personal funding?
A: Your credit score must be a minimum of 680. In addition your credit profile must also meet other basic qualifications.
Q5: Can I still qualify for a loan with a Bankruptcy on my credit report?
A: Yes, BK must be at least 5 years old.
Q6: A prequalification evaluation will take approximately how long?
A: Prequalification’s typically take 24-48 hours, not including weekends and holidays.
Q7: How long does it take to complete the personal funding process?
A: Depending on the amount of requested funds, it takes about 2-5 days for us to complete our submissions. It then takes approximately 2-10 business days for the funding to arrive after the date of approval.
Q8: Will Income documentation be needed for personal funding?
A: Income documentation is not needed on 99% of loans.
Q9: Is there an ALL cash funding option?
A: No, our personal funding comes in the form of major bank issued personal lines of credit and cards- such as: Visa, MasterCard, American Express and Discover. Once funded we can provide some tips and guidelines for the liquidation process, to convert credit to cash. Must be approved for at least one cash-line to liquidate.
Q10: When will I be required to pay the fees for you providing the personal funding services?
A: Payment is due within 24 hours upon receiving each funded line. We will provide you with written instructions regarding payment of each credit line.
Q11: What forms of payment will you accept for payment?
A: We collect our backend fee via several methods of payment: PayPal, Credit Card Charge Authorization Form, Online Balance Transfer, and Direct Deposit.
Q12: Can you do personal funding using only my Equifax credit file and not Experian or Transunion?
A: We can do personal funding using only Equifax credit or only Experian. We do not provide funding with Transunion only.
Q13: What is the max amount of funding I can obtain?
A: Based on the strength of the personal credit file we can fund up to a maximum of $200,000.00
Q14: Will you be removing credit inquiries from my report following funding?
A: No, we do not provide removal of credit inquiries.
Q15: What is the minimum amount of funding available through your personal funding services?
A: The minimum amount of funding we will submit for is $20,000. However approvals can come back lower than that amount.
Q16: Do you provide credit repair services?
A: We do not provide credit repair services, however, we do provide referrals for credit repair services.