Loans: 10 Frequently asked questions about how it works
Here we make a list of 10 to respond to the most usual ones.
1. When applying for a loan, how long can I get my money?
our company offers quick loans, which is why the transfer of your money will be made within the business day following the electronic signature of your contract. The availability of money in your account will depend on how quickly your bank works.
2. What happens if my application is denied?
Your information is not shared and the denial does not involve any involvement. You can reapply for a loan after 90 days or sooner if your financial information improves.
3. Is it safe to enter my banking information on this website?
To protect your data, our company delegates to Place to Pay the capture of sensitive information. The payment platform complies with the standards required by the PCI DSS international security standard for credit card transactions. It also has an SSL security certificate issued by GeoTrust, a Verisign company, which guarantees secure communications by encrypting all data to and from the site; This way you can feel safe when entering your information.
4. Can I make the payment any day and at any time?
Yes, at our company with Place to Pay you can make payments on your credits online 7 days a week, 24 hours a day, just one click away.
5. What happens if I am late with payments?
The delay in payment generates penalties, default interest and reporting in the credit bureaus after the first 20 days of default. The advisable thing is that you make an intelligent use of your credits.
After the payment date chosen by you, and given the collection efforts that the company carries out, a collection fee is charged for the first 30 days, of 20% of the capital. If your default exceeds 60 days, an additional 10% of collection costs is charged.
In case of not making the payment no later than 20 calendar days after having been informed about the particular, the delay in your obligation will be reported to the credit risk centers, without prejudice to the other actions that we can advance for the collection of the obligations in favor of our company.
6. Can I extend the initial term of my credit?
Of course. You can extend your quick credit as long as the credit is not due or in default and as long as the term does not exceed 30 days (all credits offered by our company have a maximum term of 30 days).
Remember that the longer term costs are higher. Verify that you can pay the new balance on the new date.
7. What are the additional insurance coverages?
As an added value, our company has additional insurance coverage to protect you. When using the electronic platform, you are hired an additional coverage policy which is optional. If you sign electronically through the platform, you are contracting the coverages mentioned below:
- ATM hold-up
- Forced use of cards
- Millionaire walk (ATM robbery)
- Acetates or acrylics (ATM hold-up)
- Forgery / Adulteration and / or cloning of cards (fraudulent expenses)
- Lost / Stolen Cards (Fraudulent Expenses)
- Fraudulent purchases online (Fraudulent Expenses)
- Qualified theft of purchases
- Accidental damage to purchases
- Loss or theft of documents
- Qualified theft of the wallet / bag
- Loss or theft of keys (cars and / or home)
- Identity theft
8. What are the collection expenses?
In addition to default interest, the debtor must pay collection expenses of between twenty percent (20%) up to a maximum of fifty percent (30%) of the amount of the total amounts owed plus taxes generated for this concept.
9. Do they use intermediaries or charge commissions in advance?
our company never shares customer information with unauthorized third parties, does not charge commissions or expenses in advance. Do not use intermediaries to fill out, study or expedite your application or disburse and process your credit.
Do not be fooled and immediately communicate any offer you receive in this regard to ayuda@our company.com.
10. Where can I ask for more information?
You can write or call the administrative line. Remember that calls are only answered during working hours and all the service is done through the our company platform.