We try our best to approve everybody but unfortunately not everyone will be. We do have a 95% approval rate.
In most cases you will be approved within a couple of hours. However, sometimes we experience a high volume of phone calls and cannot attend to your application immediately within 24 hours at most.
There are 3 options for you to receive the money. (1) You may request a cheque at the time of signing. (2) Through EFT. The money will be deposited in your account the next business day. (3) You can request a business E-Transfer. The money would be deposited within the hour.(A$35.00 charge applies)
Our finance charges are simple to calculate. For each $1000.00 borrowed it will cost $40.00 per month. For example $1000.00 for 4 months will cost you $40.00 * 4 months = $160.00. You pay back $1160.00 over a 4 month time period. Principal and interest all in.
The finance charge for a travel now paylater loan is 3% per month. For example, if the cost of the plane ticket is $1200.00, the finance charge per month would be $36.00. Usually the loan would be paid over a 1 year term. The payments in this example would be $36.00 * 12 months = $432.00 plus the ticket amount of $1200.00 = $1632.00 divided by 24 payments = $68.00 per payday (every 2 weeks)
The first payment will be due no more than 3 weeks from the date you signed the loan agreement, but must land on the date of your payday. The following payments will be either every 2 weeks or twice a month depending on when you actually get paid. The dates of your payments will be worked out at the time you sign the loan agreement.
Calculating the payments is very simple. If you borrow $1000.00 and decide to pay it back over 4 months. For $1000.00 the charges are $40.00 per month * 4 months = $160.00 totaling to $1160.00 to pay back. 4 months will have a total of 8 payments. So therefore, $1160.00 divided by 8 payments = $145.00 each. Or perhaps you would prefer to repay the loan over six months. $1000.00 loan = $40.00 per month charges *6 months = $240.00 totaling to $1240.00 to pay back. 6 months will have a total of 12 payments. So therefore $1240.00 divided by 12 payments = $103.33 each.
Yes, your first payment in most cases will start on your next pay date.
Yes, if you have relatives or close friends that are customers of ours then we may be able to give you the money you need.
In most cases we are able to provide loans to people on EI.
Philippine Financial provides loans ranging from $500.00 to $15000.00. It is on a case by case basis for the amount the person or persons will qualify for. Please call the office to discuss this your needs.
In most cases we prefer to have one loan at a time. However, depending on the circumstances and how well you have paid in the past. It may be possible.
You can prepay the interest only. Under these kind of situations we will allow you to pay interest only and therefore skip one or two payments. However, this will change the original ending date by one or two payments longer.
If any of your payments get returned for any reason. You will need to pay that payment plus a $50.00 NSF fee to us plus whatever your bank charges you. If you are aware that this may happen or did happen,please contact us to make arrangements of paying this in order to keep a good credit standing. If you do not we will contact you as soon as we are aware that your payment has been returned.
You should realize that it is a privilege to borrow money and you can rest assured you will have an emergency in the future and if you ignore our phone calls of course we will never renew your loan, just for starters. Also, we have very strict policies on collection and will definitely report your payment patterns to the credit bureau and then start one or more of the following procedures. Garnish wages, Bank accounts, put a lien against any property you own now or in the future including your vehicle, hire a bailiff to seize your personal belongings for auction. These procedures will be very costly to you and will surely cause anxiety and embarrassment for you. If you find yourself in a situation that you are unable to make payments, it would be better for you to communicate with us and make comfortable arrangements rather than hiding away.
You should contact us immediately, we would probably try to make comfortable arrangements for you, resulting in less embarrassment, less collection costs and perhaps reestablishing your credit with us and the credit bureau. In many ways you will benefit from communicating rather than ignoring this.
If the loan you have with us is unsecured, you are legally not required to pay us. However, I would suggest for you to make a confidential payment arrangement with us. For sure you will have an emergency in the future and if you filed bankruptcy and still paid us. For sure we would renew your loan and nobody else will.
If your loan with us has a co-signer and you decide to include us in your bankruptcy. The co-signer will have to pay. The co-signer is not protected by your bankruptcy unless they file bankruptcy as well.
If the loan you have with us is secured against your house or vehicle. You cannot include us in your bankruptcy. We are secured.
The trustee’s always say they are going pay us. They will pay us but not the amount in full and it will be spread out over a long period of time. This is not acceptable for us. As described above in the bankruptcy scenarios for paying, it is the same. If unsecured, please talk to us and make an arrangement. If a co-signer is involved then they will have to pay if you don’t . Or if the loan is secured you will need to continue to pay us.
Philippine Financial provides loans ranging from $500 to $15,000.
Feel free contact a member of our team to learn more about loan approvals.