- How fast does XmasFunds transfer funds to you during the holidays?
As a borrower, make sure that you review the terms and conditions of the lender that you select
Emergency loans are delivered through XmasFunds as soon as humanly possible. That is after all the name of the game in the bad credit loan industry. Getting emergency cash to a borrower as soon as possible is very important. If you cannot get a bad credit loan to a borrower quickly, then you will not have a very good rating as a bad credit loan provider.
If you are following along with us, and I know you are, you are seeing a common theme here. The common theme is that an emergency loan needs to be delivered quickly to the borrower. It needs to be delivered quickly because they are in a time of need, and they need the funds fast. A lender who delivers emergency funds slowly to a borrower would have no value to that borrower. Therefore, if a lender tells a borrower that they will receive emergency funds from them slowly, then that borrower will not chose them. The person borrowing the emergency loan will pick the bad credit lender who can deliver the loan to them quickly.
- How transparent is the bad credit loan lending process with XmasFunds?
XmasFunds does not like to trick people with bad credit with pesky and hidden payday loans in Connecticut fees. We hate those pesky fees! If you are not sure what we are referring to , ‘pesky fees’ means that borrowers can get stuck with high interest rates or large loan set up fees. With XmasFunds each of their 60+ lenders details their terms and conditions of their loan.
The typical documents that a lender may ask for as proof of your earnings can consist of a payslip, w-25, copies of tax return records for the last two years, or 1099s. As such it is a good idea to keep the latest bank statements on hand and the phone number of your employer, in the event that you need to contact them in order to get these documents. Depending on who your employer is and if they have a Human Resources department, you can usually get these documents fairly quickly. If your employer does not have a human resources department, these type of documents can be obtained from the book keeper or accountant at your company.
By doing this, you are showing the lender what exactly the funds are being used for
You will also need to have proof of your identity as well as your residential address. The proof of identity may include your drivers license, State Identity Card, or even a utility bill will do the job sometimes.
You should always explain in detail to the lender why you are borrowing these funds. . By doing this action, you are painting a picture for them, that will help them gain a better understanding of who you are. If you have any documents that you can provide to the lender, this can help as well.
The next step is searching for the best lender for yourself. Once you have found the right lender, it is time to undergo a soft credit inquiry. A soft credit inquiry has no negative impact on your credit score.
The hard credit check is applicable only when you finalize an application or offer for a loan. You generally do not want to have your credit pulled too many times as that can have a negative effect on you overall credit score.