Life throws us financial curveballs, which may require us to get a loan. Traditional bank loans can be hard to obtain if you don’t have good credit. That’s where lending companies come in handy. Check n Go Loans is a short-term solution to getting funds in your bank. They focus on being able to help browsers whose credit has taken a dip. To ensure that you get the money you need in a time of crisis.
Each lending company has its own terms and conditions. Plus, not all of them have decent rates. We’ve taken a closer look into whether or not Check n Go Loans is worth signing a contract with.
A payday loan covers small financial issues that may arise. They have high-interest rates but can get you funds within a few days. The repayment schedule is usually on your next paycheck or within three months.
When should you use a payday loan? If you feel you have an expense that needs to be paid fast, you may need a payday loan. You should only consider this option if you can pay the loan plus interest back in a short amount of time.
On the other hand, installment loans are similar to payday loans. Instead of paying the loan and interest on your next paycheck, they extend the payment up to a year. This allows you to have enough time to pay off the loan without pitching in a chunk of money from your paycheck.
An installment loan is a good option if you don’t have the extra income for quick repayment. Although the interest rates are generally higher and do build up over time. Carefully consider which type of loan would be ideal for your situation.
What Is the Borrowing Process Like for Check N Go?
The lending process requires that you either walk-in to a physical store or apply online. Filling out the application only takes a few minutes and requires some documents/personal information. Walk-ins can get you cash the same day if you bring all the necessary information.
To apply, head to the Check n Go Loans website and click “apply now.” Once you’re done filling out the application, you will have to wait for a representative to contact you. Once they approve/deny your application, you can choose whether to resubmit or accept the terms.
After signing a contract, you’ll be able to get your funds the same day. Funds will be deposited into your banking account and available within 24 hours. You may use the funds for whatever you like.
What Are the Limits to How Much You Can Be Lended From Check n Go?
Loans from Check n Go range in quantity. Because the company operates in 28 different states, the maximum amount ranges. Other factors that affect the maximum amount is your income, past loan history, and bankruptcy. Luckily, Check n Go Loans doesn’t check your credit.
The maximum amount you can be approved for is $1,000. But, if you find yourself in the position where you don’t need to take out that much money, feel free to switch to less. Additionally, Check n Go Loans can be returned within a specific period.
Are There Any Extra Fees or Rates at Check n Go?
Check n Go provides loans with annual interest rates (APR) of 132% to 652%. What impacts these percentages is how large of a loan you’re taking out. If your loan is larger in size, you’ll be subjected to more fees. However, APR rates also change per eligible state. This means there is some variation.
As for other fees, Check n Go has a finance fee. Their finance fee ranges from $11.20 to $25.00. Aside from that, they also have a convenience fee for their installment loans. This fee covers the cost of reviewing your application. The amount you can expect to be charged is $4.95.
Nonpayment and Late Payment Process at Check n Go
Every state has its own laws regarding late payments. In most cases, Check n Go will not require you to pay any added fees for making a late payment. However, if 30-days have passed and you haven’t paid yet, it will be sent to collections.
That’s why it’s essential to communicate with your loan company if you think you’ll miss a payment. Talking with them can help you avoid added interest or a drop in your credit. They won’t make any reports unless your account is deemed delinquent and sent to collections.
h3>Does Check N Go Loans Have Good Reviews?
Yes, Check n Go is officially licensed to provide loans in 28 states. They have over 280 physical locations and offer services in most states. Even if you don’t have a physical store near you, you can still help you as long as you live in an eligible state.
Check N Go Loans Application Process
Creating an account and submitting an application is relatively easy. To create an account, start by heading to the Check n Go Loans website. From there, you will see a button that states, “apply now.” Click that button and then do the following steps;
- Creating an account – Start by creating an account by inputting information into the selected fields. They will require that you provide your state of residence, full name, and your email address. From there, continue to make an account.
- Select Your Loan Amount – Select the amount you want to borrow and your loan type. Look over the above amounts and ensure that it’s the funding you need. Once done, submit and move onto their eSign agreements.
- eSign Documents – if you’re living in a state that doesn’t require faxing, you will be asked to eSign a few agreements. These mainly go over the terms and conditions of working with Check n Go as your lender.
- Complete – review all the information above and make sure it’s correct. After that, submit your application and wait to hear back from them. Within 48 hours, you’ll get an approval/rejection notice on your application. If accepted, you will sign again, and they will deposit funds into your bank account.