Frequently Asked Questions

 

IS IT REALLY FAX FREE APPROVAL?
YES. "No faxing required" means just that.

Our Unique 24-7 FaxLessSM Payday Loan Processing Totally Eliminates Faxing Forever!!
With our online 24-7 FaxLessSM processing, faxing is eliminated. FaxLessSM means that your application is completed online in minutes and you’re finished/done. Our total online process gets rid of sending and receiving faxes-TOTALLY!

*Subject to verification of the information on your application; some restrictions may apply.

HOW DOES THIS WORK?
Just fill out the online application for instant pre-approval. You chose your own personal preference for repayment which could be either the single payment or automatic renewal option. If approved, your loan proceeds will be deposited directly into your personal bank account by ACH. Additional fees will apply if you choose the automatic renewal option to extend your loan.

WHEN WILL I RECEIVE MY LOAN?
Once you have applied online, a loan agent will attempt to contact you to verify your banking information and explain the terms to you. Once you have spoken with your loan agent, your loan amount will be deposited into your bank account the next business day (if approved by 1PM Eastern) by ACH. If you are denied, you will receive an e-mail notification. You can also call our fully automated system two hours after you complete your application to check your status.

WHEN WILL I KNOW IF I AM APPROVED OR DENIED?
The approval/denial process takes minutes. If approved, you will have your money deposited into your account the following business day. If you are denied, you will receive an e-mail. You can also call our automated system to check the status of your account.

HOW MUCH IS THE FINANCE CHARGE?
That will depend on which payment option you choose. The Single Payment Option will save you the most in finance charges since you will be paying your loan off in full with one payment which is due on your next payday. The Automatic Renewal Option extends your loan out to multiple paydays, and therefore the finance charges will be more since you will be getting more time to pay off your principal balance.

WHAT ARE MY PAYMENT OPTIONS?

You Decide What Payment You Want to Make, Based on the two option examples below.

OPTION 1: AUTOMATIC RENEWAL OPTION
THIS PAYMENT SELECTION CAN BE MADE WHEN YOU SIGN YOUR LOAN NOTE OR AT LEAST THREE FULL BUSINESS DAYS BEFORE YOUR DUE DATE. Your minimum payment on your first FOUR due dates is your finance fee. This payment is AUTOMATICALLY debited on your due date unless you request to pay more than this amount. Beginning on your FIFTH due date, you will be required to pay a minimum of $50.00 toward your principal balance ($100.00 on loans greater than $500.00) on every due date until your loan is paid in full. Finance fees paid will not be applied to your principal balance. *IMPORTANT: A NEW FINANCE FEE WILL BE ASSESSED (based on your remaining principal balance) WHEN YOU SELECT THIS PAYMENT OPTION*
Example of Automatic Renewal Option
(Your Current Balance)
(Your Payment)
(Your Balance After Payment Is Made)
PRINCIPAL BAL
+
FINANCE
FEE
=
TOTAL
DUE
-
PRINCIPAL PAID
-
FINANCE
FEE PAID
=
REMAINING PRINCIPAL BAL
+
NEW
FINANCE
FEE
=
REMAINING
BALANCE
$ 100.00
+
$ 38.00
=
$ 138.00
-
$ -
-
$ 38.00
=
$ 100.00
+
$ 38.00
=
$ 138.00
$ 200.00
+
$ 76.00
=
$ 276.00
-
$ -
-
$ 76.00
=
$ 200.00
+
$ 76.00
=
$ 276.00
$ 300.00
+
$ 114.00
=
$ 414.00
-
$ -
-
$ 114.00
=
$ 300.00
+
$ 114.00
=
$ 414.00
$ 400.00
+
$ 152.00
=
$ 552.00
-
$ -
-
$ 152.00
=
$ 400.00
+
$ 152.00
=
$ 552.00
$ 500.00
+
$ 190.00
=
$ 690.00
-
$ -
-
$ 190.00
=
$ 500.00
+
$ 190.00
=
$ 690.00

OPTION 2: SINGLE PAYMENT OPTION
THIS PAYMENT SELECTION CAN BE MADE WHEN YOU SIGN YOUR LOAN NOTE OR AT LEAST THREE FULL BUSINESS DAYS BEFORE YOUR DUE DATE. If you selected to pay off your loan when you signed your loan note, and you qualify, then you don't need to do anything else, the pay off amount will be automatically debited on your due date. You may pay your loan off on any due date. Your payoff amount will consist of your principal balance and finance charge.
Example of Single Payment Option
(Your Current Balance)
(Your Payment)
(Your Balance After Payment Is Made)
PRINCIPAL BAL
+
FINANCE
FEE
=
TOTAL
DUE
-
PRINCIPAL PAID
-
FINANCE
FEE PAID
=
REMAINING PRINCIPAL BAL
+
NEW
FINANCE
FEE
=
REMAINING
BALANCE
$ 100.00
+
$ 38.00
=
$ 138.00
-
$ 100.00
-
$ 38.00
=
$ -
+
$ -
=
$ -
$ 200.00
+
$ 76.00
=
$ 276.00
-
$ 200.00
-
$ 76.00
=
$ -
+
$ -
=
$ -
$ 300.00
+
$ 114.00
=
$ 414.00
-
$ 300.00
-
$ 114.00
=
$ -
+
$ -
=
$ -
$ 400.00
+
$ 152.00
=
$ 552.00
-
$ 400.00
-
$ 152.00
=
$ -
+
$ -
=
$ -
$ 500.00
+
$ 190.00
=
$ 690.00
-
$ 500.00
-
$ 190.00
=
$ -
+
$ -
=
$ -

Changing Payment Options / Alternative Payment Methods.
You can change your payment option at any time, up to three (3) business days before your loan payment is due. You can select to renew your loan, pay your loan off, or pay down your principal amount by increments of $50.00. Paying down will decrease the fee charge for renewal. Per the Electronic Funds Transfer Act and Regulation E, preauthorized ACH electronic payments from your bank account are NOT a condition of obtaining this loan from TLE. You may instead choose to wire transfer, use a debit card, or MoneyGram® to make payments.. To make a change to your Payment Options or Payment Methods, you must notify us of your request at least three (3) full business days before your loan is due by either logging in to your account at the website www.National-PaydayLoan.com or calling our automated system at 1-888-678-8567 and following the instructions given.
Example of a $50 Pay Down Option
(Your Current Balance)
(Your Payment)
(Your Balance After Payment Is Made)
PRINCIPAL BAL
+
FINANCE
FEE
=
TOTAL
DUE
-
PRINCIPAL PAID
-
FINANCE
FEE PAID
=
REMAINING PRINCIPAL BAL
+
NEW
FINANCE
FEE
=
REMAINING
BALANCE
$ 100.00
+
$ 38.00
=
$ 138.00
-
$ 50.00
-
$ 38.00
=
$ 50.00
+
$ 19.00
=
$ 69.00
$ 200.00
+
$ 76.00
=
$ 276.00
-
$ 50.00
-
$ 76.00
=
$ 150.00
+
$ 57.00
=
$ 207.00
$ 300.00
+
$ 114.00
=
$ 414.00
-
$ 50.00
-
$ 114.00
=
$ 250.00
+
$ 95.00
=
$ 345.00
$ 400.00
+
$ 152.00
=
$ 552.00
-
$ 50.00
-
$ 152.00
=
$ 350.00
+
$ 133.00
=
$ 483.00
$ 500.00
+
$ 190.00
=
$ 690.00
-
$ 50.00
-
$ 190.00
=
$ 450.00
+
$ 171.00
=
$ 621.00

WHAT IF I CHANGE MY MIND AND NO LONGER WANT THE MONEY?
In that case, you need to fill out and sign the cancellation section on the Application Supplement page within 24 hours and fax it to us. If the money has already been sent to your account within the 24 hours, we will debit your bank account for the principal amount.

CAN I GET ANOTHER LOAN AFTER PAYING OFF MY CURRENT ONE?
Yes. You can apply for another loan 5 business days after paying off your current loan in full. This information is based on typical circumstances, and is subject to change. If you have any further questions, or are unsure about anything, please fill out our support form on the "Contact Us" page.

 

Notice: (1) This short-term Loan provides the cash needed to meet an immediate short-term cash flow problem. (2) It is not a solution for longer-term financial problem for which longer term financing may be more appropriate. (3) You may want to discuss your financial situation with a nonprofit financial counseling service in your community. (4) You will be charged additional fees if you renew or refinance your Loan with us.

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