Johnson City Med Side
Johnson City North Side
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Frequently Asked Questions about our Payday Advance Loans
Q: Do most people use a payday advance service for the same reason I do?
A: Probably so. Surveys show that while Americans do a pretty good job of managing household budgets, most of us need occasional help. An increasing number of consumers choose a payday advance to cover unexpected expenses or to bridge a short-term cash crunch between paydays, without incurring revolving debt. A payday advance is a short-term financial management tool that can provide a sensible alternative to costly bounced checks, late payment charges and tarnished credit ratings. However, you should evaluate the costs and benefits of all alternatives before borrowing. Other forms of short-term credit that may be less expensive include a loan from another institution or from family or friends, a credit card cash advance, an account with overdraft protection, or a salary advance.
Q: What happens if I change my mind after taking out a payday advance?
A: You may rescind the transaction at no cost before the end of the following business day by returning the full amount of the advance to us.
Q: How often do most people use this service?
A: Since a payday advance is a short-term solution to an immediate need, it is not intended for repeated use in carrying an individual from payday to payday. When an immediate need arises, we're here to help. But a payday advance is not a long-term solution for ongoing budget management. Repeated or frequent use can create serious financial hardships.
Q: Is my transaction confidential?
A: Absolutely! We respect our customers' desire for privacy in managing their personal financial matters. The payday advance transaction is a confidential one, and we will treat your personal information accordingly.
Q: How is my advance amount determined?
A: State law generally regulates the maximum advance amount available. Within the allowed range, you qualify for a particular advance amount based on your current income. Sometimes you may not be able to get as much as you'd like; but a payday advance should be part of your financial solution. We wouldn't really be helping if you received more than you have the ability to repay.
Q: How are fees established?
A: The fee is competitive and in compliance with applicable state or federal law. It is our goal to offer you the best service at the most competitive fee possible.
Q: Is my credit rating checked before I receive an advance?
A: No, we do not obtain a complete credit report. Unlike many other financial institutions, we do not require that you have good credit or, for that matter, any credit history at all. (We do, however, subscribe to a risk assessment service. It tells us if customers are current in their payments to other businesses like ours and whether our customers have payday advances outstanding with other companies that subscribe to the same service.)
Q: Getting a payday advance is such a simple and easy process, why is there so much information in the Customer Agreement?
A: The Agreement you read and sign prior to receiving a payday advance is a contract that complies with all applicable state or federal disclosure requirements. It fully outlines the terms of the payday advance transaction, including the cost of the service fee both as a dollar amount and as an annual percentage rate (APR). Although a payday advance is a short-term financial solution and is not intended as a long-term source of credit, we provide you with the APR in the interest of full disclosure. We want to provide you with all the information you need to make an informed financial decision.
Q: What happens if I don't have the funds necessary to repay the advance on my due date?
A: Just like you, we hope this doesn't happen. But if it does, Just Check It! is committed to collecting past due accounts in a professional, fair and lawful manner. If we deposit your check and it is returned by your bank due to insufficient funds, you may be charged a returned check charge if permitted by applicable law. (You should be aware that most financial institutions will also charge a NSF fee for a returned check and in some circumstances might revoke your checking account privileges.) You will be responsible for payment in full of your account, including the returned check charge. We will contact you to collect the amount due. (If necessary and appropriate, your account may be turned over to a collection agency.)