- How fast does MoneyMutual transfer funds?
Emergency loans are all about receiving the funds right away without any delay. Lenders who can deliver loans in a speedy manner are the ones that you should look for. After all, emergency loans should be delivered to the borrower in a quick and timely manner.
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.
That is exactly why we would like to highlight MoneyMutual, and their fast delivery of funds to borrowers that are in need.
- How transparent is MoneyMutual?
Some lenders try to sneak in hidden fees. Meaning that borrowers can get stuck with high interest rates or large loan set up fees. With MoneyMutual, each of their 60+ lenders details their terms and conditions of their loan. As a borrower, make sure that you review the terms and conditions of the lender that you select.
Yes, this is definitely possible to do. However, there is one catch. The catch is that you have to be organized. Your prospective lender is going to ask you for some documentation, so it’s important to know what exactly they are going to ask for. We explain this all below. Please read on.
It is important to remember that the lenders expect that you will pay back the loan
The type of paperwork 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. Even 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.
If you are not aware of any book keeper or accountant, the best thing to do would be to ask your manager for this paperwork.
If you have any documents that you can provide to the lender, this can help as well
You will also need to have evidence of your identity as well as your residential address. The proof of identity may include your drivers license, State Identity Card no credit check loans in New York state, or even a utility bill will do the job sometimes.
It is always a smart idea to explain to the lender why you are borrowing emergency funds. By doing this action, you are painting a picture for them, that will help them gain a better understanding of who you are. By doing this, you are showing the lender what exactly the funds are being used for.
They examine your debt to income ration to see what sort of capacity you have to re-pay the loan. Your credit score also matters here.
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.