Installment Loan FAQ
The information below provides answers to some of the most frequently asked questions our Customer Care Specialists receive. If you cannot find the answer or information you are looking for, please don’t hesitate to contact us at 1.855.333.6570 or via email at email@example.com
Q: What do I need to qualify?
A: To qualify for a loan with Northcash, we require:
• You are a U.S. citizen.
• You do NOT reside in Arkansas, California, Georgia, Maryland, Minnesota, Montana, New York, Pennsylvania, Virginia, and West Virginia.
• You are not a member of the military or spouse/dependent of a member of the military.
• You are at least 18 years of age.
• You have a source of regular income that meets our minimum monthly net income requirement.
• You have a checking account that is ACH (Automatic Clearing House) accessible. If you are unsure if your bank account is ACH accessible please contact your financial institution.
Q: I am in the military. Can I get a loan from Northcash?
A: Northcash currently does not have a product suited for military personnel.
Q: How do I know if this loan is a good choice for me?
A: This type of loan is not a good fit if:
• You plan to use your loan as a long term solution for your financial needs.
• You plan to use your loan to pay off other outstanding debts.
• You cannot repay your loan by the due date.
Q: How is a Northcash loan different from other types of loans?
A: Northcash loans, also referred to as personal loans, fast cash loans, or installment loans, are a means for consumers to get fast access to relatively small amounts of money. The loan amount is generally less than a standard loan and there is a faster approval process to receive your money.
Q: How much money can I borrow?
A: Loan amounts vary from $100-$1500, approval amount is determined by the information provided on your application and any available payment history. New customers may qualify for loans ranging from $400-$800, while returning customers may qualify for loans up to $1500.
Q: What is my minimum loan term?
A: Northcash installment loan terms vary from a minimum of 3 months to a maximum of 18 months, depending on your loan amount and your ability to make a specific payment amount each due date. You are able to make additional payments, as well as pay off your loan at any time by contacting Customer Care at least 3 business days prior to your next due date.
Q: What is the APR on the loan?
A: The maximum annual percentage rate (APR) of any Northcash loan is 795%. This may seem high, but the APR varies depending on the terms of your loan as well as your payment history. It is also important to note these loans are not intended to be used as a long-term financial solution or to supplement limited income. These loans can offer an effective cash alternative if you are short on money and need funds to cover something such as an emergency expense until you receive your next paycheck. For more information on finance fees and APR, please see our Rates page.
Q: What is the interest rate?
A: The interest rate for our installment loan is 795%
Q: How do I apply for a loan?
A: If you are a new customer you must go to the Apply Now page and fill out our online application. After you press submit you will be notified if your application has been pre-approved within a few seconds. If you are a returning customer login to take advantage of our quick application.
Q: When will I know if I’ve been approved?
A: Within seconds of submitting your application, you will receive a notice indicating if you have been pre-approved for a loan. If you fail to receive this message, please contact Customer Care at 1-855-333-6570.
Q: How do I finalize my loan?
A: Once your application has been pre-approved call us at 1-855-333-6570 to verify your information with one of our Customer Care Specialists.
To expedite the process please ensure you have access to the following prior to your call:
• Driver’s License/State ID
• Banking Information
• Payroll Information
• Access to the Internet
Q: Why do you need my bank account information?
A: We need your banking information to deposit your funds. Northcash deposits your money directly into your bank account in as little as 24 hours via standard ACH (Automatic Clearing House) direct deposit. If you require the money sooner, same day wire transfer service may be available for an additional fee of $12.
Q: Does Northcash require a credit check?
A: Northcash does not perform credit checks through the three main credit bureaus. A credit check may be executed to determine creditworthiness through an alternative provider which will not affect your credit score.
Q: Do I need to fax any documents?
A: Northcash may require you to send us copies of your most recent bank statement (covering 30 days of transactions). If you are a returning customer, with some exceptions, we will use your payment history from the last 90 days. If you wish, you may also request to scan and e-mail these documents to us as an alternative to fax.
Q: When and how will I receive my loan?
A: Your loan will deposited directly into the bank account you designated when you applied for your loan. Most deposits are received in as little as 24 hours or on the next business day although times may vary depending on your banking requirements. If you need the money sooner, you may use our wire transfer service to receive the money the same day for a $12 fee. To see if you are eligible for same day funding or to learn more about the wire transfer service, contact Customer Care at 1-855-333-6570.
Q: Can I have more than one loan simultaneously?
A: No, you are only able to have one active loan. After repayment of the loan, you are eligible to borrow again.
Q: When I pay off my Northcash loan, how soon can I borrow another?
A: You’ll be eligible for a new loan as soon as your last payment clears – which could take your bank up to five business days to confirm. Borrowing a second time, you’ll enjoy an even simpler loan process when you login as a returning customer.
Q: My spouse and I share a bank account, can we each take out a loan?
A: No, you are only able to have one active loan per bank account at a time. After repayment of one loan, you or your spouse are eligible to borrow again.
Q: How do I cancel a loan request?
A: You may cancel your payment obligations under your loan agreement, without cost or finance charges, no later than 5 PM (EST) of the next business day immediately following the disbursement (deposit) date. Your right to cancel your loan only applies if your loan either hasn’t funded or, if it has, the funds are returned to us as explained in your loan agreement. To cancel your payment obligations on this loan please call us at 1-855-333-6570, you must also inform us in writing, by or before the Cancellation Deadline, either by email to firstname.lastname@example.org or by fax at 1-888-454-2368.
Q: When is my loan payment due?
A: Payments will be due on the due dates set out in the terms of your loan agreement. If the funds are not going to be available in your account, please contact us at 1-855-333-6570 3 business days prior the due date. If we do not receive your payment by the due date, you will be charged a $30 NSF (non-sufficient funds) fee, and may be subject to additional late fees.
Q: My next payment due date falls on a holiday, on which day will I be charged?
A: By default our system will take your payment the first business day after a holiday. You may however request for it to be taken the day before a holiday by calling us at least 3 business days prior your payment due date.
Q: How can I access or make changes to my balance and payment history?
A: For inquiries about balances, payment history or to make changes to your account or loan you can contact us at 1-855-333-6570. To make changes to a payment you must contact us at least 3 business days prior to your payment due date. Please note we currently do not offer the ability to view or change your account online. You can however login to apply for a new loan or access your loan agreement.
Q: How do I update my Northcash account information?
A: If you would like to update the information in your account, please contact us at 1-855-333-6570 to speak to a Customer Care Specialist. For changes to non-confidential information, you may also send us an email at email@example.com.
Q: What happens if I can’t remember my account login information?
A: If you have been pre-approved for a loan, your login is the last 4 digits of your Social Security Number and your email address. To view or sign your loan agreement click here. To apply for a new loan click here.
Q: How do I repay my loan?
A: Northcash offers two methods of payment:
• Have payments automatically withdrawn from your checking account using an Automatic Clearing House (ACH) direct debit system each due date.
• Submit payments by way of Money Order, Cashiers and Certified checks by mailing your payment to the address below. If you are mailing in payments, we recommend sending them at least 5 business days in advance so we receive it by your due date. (Please give us a call when your payment is mailed so we can ensure the receipt by your due date.)
North Star Finance, LLC d/b/a
PO Box 498
Hays, MT 59527
If the funds in your account are insufficient to cover the amount owed, or we do not receive your payment on your due date, you will be charged a $30 NSF fee, and a $30 late fee assessed after 5 days.
Q: How do I contact Northcash?
A: To contact Northcash please call us at 1-855-333-6570 or send us an email to firstname.lastname@example.org. For additional contact information please click here
Q: What if I have a complaint?
A: At Northcash, we strive to provide our customers with world-class service. Our goal is to provide you with an exceptional experience. In the event that we fail to meet your expectations, you can reach us:
By Phone: 1-855-333-6570
By Email: email@example.com
North Star Finance, LLC d/b/a
PO Box 498
Hays, MT 59527