Frequently Asked Questions

Scroll through our FAQs to find your answers, or contact us if you still have questions.

 

After I fax the Application and all of my information back to your company,
what happens next?

To be sure that we have received your Application - and that it is COMPLETE - please contact us either via our website at cashnet500.com or through our automated telephone system at 1-800-654-7444 and follow the instructions to access your "Account Status". Please allow 2-4 hours after you fax your documents to give us time to process your paperwork.

 

After I FAX the Application and all of my information back to your company, and have checked my account status either via the web or through the automated system, when should I expect a phone call from one of your Loan Specialists?

A Loan Specialist will call you the same day or the following business day.

 

What are your business hours?

Our Customer Service Representatives are in the office from 8:00 am to 5:00 pm eastern time. However, if you need to FAX any documents after/before those hours our FAX machines run 24 hours a day (1-800-887-9284). Also our automated telephone system is available 24 hours a day.

 

How much money will I be approved for?

The amount you will be approved depends on your income and banking history, we typically loan first time clients from $350 to $1000.

 

When am I due to pay back the loan?
Usually, the loan fee must be paid back when you receive your next paycheck. The standard time for repaying your loan varies.

 

Do I have to pay the loan back in full?
There are three different payment options that will be explained to you by your Loan Specialist when you are being approved for the loan. You can click here to find out more about Payment Options.

 

How do I make a Payment Arrangement?
Once you have an active loan with cashnet500.com, you do NOT need to do anything further in order to refinance or 'roll-over' your loan! We will only debit the finance charge due on your up-coming payday. Remember you will still owe your original loan amount along with another finance charge on your following payday. We have simplified the process for your convenience.

 

How do I make a payment toward the principal of my loan?
You must contact us either via our website at www.cashnet500.com or through our automated telephone system at 1-800-654-7444 at least three (3) full business days prior to the loan due date to inform us of the amount you want to pay. Please remember you must get a confirmation number when using this option.

 

We will only debit the finance charge due plus a payment towards the principle amount on your up-coming payday. The principle payments can be five dollars or more. Remember you will still owe your new principle amount along with another finance charge on your following payday.

 

If I pay off my loan in full, when can I get another loan?
We call this process reactivating. If you pay your loan off in full, you must wait three business days before you are able to reactivate your account in most cases.

When can I increase my loan amount?
You must borrow at the same level twice, then you can go to our website, log in, and view your maximum available loan amount. If you have already received at least three successful loans with us, and would like an increase over and above what your account currently allows, you should choose the option To Create A Form Letter to request an increase in your loan amount.

 

What will be the cost of credit for this service?
Please refer to the Fee Schedule.

How often can I use your services?
There is no limit as to how many times you may use our service as long as we have no problems regarding your account. Regardless of how many times you use our service, you are always required to pay off the entire loan including all finance charges within twelve weeks of the inception of the loan.

 

Complaints/Questions?

For Utah residents, questions for complaints regarding your payday loans may be directed to the Utah State Department of Financial Institutions at 801-538-8830.

 

Residents of other states should contact the proper regulatory agency within their state.

 

Can I prepay or make a partial payment towards my loan?

You may pay all or part of your loan in advance without incurring any additional charges or penalties. Prepayments or partial payments of any loan will be applied in a manner consistent with the Utah Consumer Credit Code. We will allow borrowers to make partial payments in increments of $5.00. we will apply partial payments first to any earned interest. Any amount paid in excess of the earned interest will be calculated on the unpaid principal at the originally stated APR. Any reduction in principal will result in a corresponding reduction in interest actually paid.