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One of the bitter blows of reaching adulthood is finding out that money does not grow on trees. It can be hard needing things desperately and not having the money to pay for them and a Regional Finance payment for a loan that you took out with them can make it possible to own something you may not otherwise have been able to get.
Personal loans are not taxable
With a personal loan from Regional Finance, these loans are not taxable as it is like a gift – it is not income. Unlike wages that you earn, you need to repay this loan but you do not need to report it on your income tax return.
Money comes to you by working hard and being creative. Yes, some people are lucky enough to inherit but for most people money is earned by the sweat of the brow. People need to earn so as to be able to make payments for goods and services rendered. They also need to make payments to a loan company and then they have to pay an agreed sum of money back each month.
The Annual Percentage Rate (APR) is the amount you pay each year to borrow money, and it shows the interest rate and the fees that you must pay for the loan.
If you want to take out a personal loan but are worried about what you can actually afford, you will find personal loan calculators online that can be useful in working out the monthly payment amount you will be expected to pay, complete with interest.
Regional finance payment is easy to keep up with
A Regional Finance payment will need to be made when you take out a loan with them. They help you get the money you need for a whole host of things such as paying for medical treatments, paying for home improvements, paying to study, repairing your car, and much more.
They have personal loan specialists who will help you get a loan and set up a payment system that is easy for you to keep up with. When it comes to Regional Finance payments, they always look for ways to make life easier for their clients and that means being able to pay online, by phone, by mail, or at one of their branches.
They offer different options and services including their Autopay electronic bill payment system complete with text message alerts to remind you exactly when payment is due and how much. That is why we provide so many services and options including text message alerts, electronic bill payment, AutoPay, and online account management.
There are a number of types of payments a person can make –
- Cash in the form of paper money and coins
- Debit- and credit cards
- Check or cheque. Certified or cashier’s checks are no longer popular because of the introduction of technology. But there are still instances when checks are still helpful as in when the seller wants a guaranteed payment.
If you have taken out a loan with Regional Finance, it is a good idea to sign up with them for Regional Finance payment that is easy and convenient. You will be able to make all your payments easily online. It is so easy too as it is a case of simply clicking on the register button provided. You will require your account number if you want to register. You can find this number in your loan documents and also in the welcome email you received from them. Once you have a registered an account with Regional Finance you can –
- Check your account balance
- Make payments online
- Set up Autopay
- Update your personal information
Online account management
Autopay makes it so easy to make Regional Finance payments because it is you who sets the date along with the amount of the monthly payments you want to make. You can make Regional Finance payments online or at your local branch.
If you want to set up AutoPay you do it by registering for Online Account Management. To pay to an account, you will need to click on Make Payment and select a payment source. Here you will see the Autopay tab and you will need to click on it. And then, you will click the check box so as to activate Autopay. It will be in action on the due date of your next payment. To ensure that everything has been set up properly, you will be sent a confirmation email. Everybody can face difficulties when making loan payments. Look at the suddenness of the coronavirus and how it made it impossible for people to pay their accounts and their loans. Regional Finance gives loans but before they give you a loan they first establish how much money you will be able to handle in terms of paying it back.
A loan is an agreement to pay back the money
Paying back a loan is a huge part of getting a loan, and when you take out a loan you are effectively entering into an agreement to pay back the money. How Regional Finance structures your loan is to make it easy for you to pay. Factors to consider with Regional Finance payments are payment amount, term length, and the interest added on.
Term length is important as this will tell you how long you have got to repay the loan. The longer your repayment will be the smaller each payment will be. You need to bear in mind that longer repayment periods mean more time for interest to build on the money you have loaned.
So, while your repayments are smaller, you ultimately end up paying more money over a longer period of time. Some people opt for a one-time-payment option where they take a loan and pay for the entire thing in one go.
Stick rigidly to the regional finance payment plan
It is important to stick rigidly to your monthly payments. Regional Finance is careful not to make your payments too large to manage. You may not be able to keep up with the payments, and for a business that takes out a loan, this can mean the loss of the business in the long run.
You want to always be careful with the interest that comes with repaying a loan. The higher the interest, the quicker you want to pay off your loan. Even small loans can end up being costly.
it is for this very reason that you should borrow from a lender who offers loans and repayment options suited to the needs of their clients. Lenders such as Regional Finance like to be able to provide clients with different borrowing options that come with variable payment terms.
They offer secured personal loans for a variety of needs. Regional Finance payments are worked out on the type of loan you get and these can be from $500 to $12,000. The cool thing is with a loan from them is that it takes just 5 minutes to pre-qualify online. You can also give your local branch a call and they will respond to you quickly.
Once you have brought your required documents to the branch and you have signed everything, you can receive your check on the very same day. When you apply for a loan, to ensure everything goes smoothly, you must bring proof of income, your ID or driver’s license, and proof of residence.
Your loan and payment plan is customized
No loans are the same and each client’s loan terms are decided on an individual basis, Loan decisions are made based on a few factors, some of which are your earnings, your credit history, and the availability of collateral if it is necessary.
With Regional Finance payments, you want to avoid late- or no-payments as there are some lending companies that will increase your APR as a penalty when making late payments. Making late payments can also have an impact on your credit score.
Repayment history is massively important for calculating your credit score and you want a good credit score for making big purchases further on down the line. In fact, your payment history makes up 35% of your score. If you are constantly missing payments it can lower your credit score. In the future, if you want to buy a car or a house, you will experience difficulties and may have to hear that you can’t get a loan.
With a Regional Finance payment, a late fee is evaluated if your payment is not made before the grace period ends. It could also be that you did not have the funds available and because of insufficient funds, your payment is returned. You can also incur a late fee if you did not make a payment within the grace period.
If you continue in this kind of pattern, you can find your debt is transferred to a collections agency. It is why a debit order or autopay is so useful. You can keep on time with payments. You can make use of this feature to set up your payments automatically for your loan. You can pay early if you want, after first checking that your lender does not have any pre-payment penalties.
If you do fall behind on your Regional Finance payments, the best thing is, to be honest with your lender. Be in contact with them and explain your situation. Whenever you take on debt, you are making a commitment to be financially responsible.
Payment protection plan
Regional Finance tries and makes it easier for you to make their payment and you are able to make payments at any of the Regional Finance branches that there are. They do not charge a convenience fee for accepting phone payments. They also offer a payment protection plan. This is because nobody knows how their future will turn out and sometimes an emergency can make it difficult to pay up. A payment protection plan is a benefit offered by a lender where you get what is known as a pause in payment.
Covid-19 made it difficult for some people that they simply were not able to make payments. This debt protection can offer peace of mind when it becomes impossible to make Regional Finance payments on your loan. Regional offers disability, life, personal property, and auto single interest coverage.
If you made a payment due date and it is no longer suiting you, you can always make arrangements to have it changed to a date that suits you better. it is just a case of going into your local branch and filling in the forms.
You can also chat with them about lowering your monthly payments but they will first need to assess your situation to see if you are eligible for lower monthly payments. You also have the option to make a payment that has a future date in Online Account Management. You click on the date and choose an appropriate date from the calendar provided and this is done in the ‘Make a Payment’ area.
A loan with a not-so-good credit score
It can be devastating when you need money badly for something important and you do not have it. Getting access to finance quickly can be like a weight off your shoulders, Regional Finance can ensure you get much-needed funds even when your credit score is not that good.
With a loan from a reputable lender, you can opt for a flexible repayment period and you always know exactly what you are paying back. With Regional Finance payment, they go out of their way to help you get a loan within your financial means and also rigged up with a payment option that still allows you to get through the month easily.
Applying for a loan from this reputable lender is super fast online and you can have money in your pocket in the space of 24 hours so that you can get what you need immediately and then start paying the loan back in nice easy, fixed installments.