• Frequently Asked Questions

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    What is a Personal Loan?

    A personal loan is a fixed term loan that can be used for many purposes ranging from vehicle repairs to home improvements. A Personal Loan from one of Oupac Financial Services locations can get you the money you need when you need it most! Simply contact your local Oupac representative for a telephone loan application. It’s that easy!

    Personal Loans

    Vacation Loans
    Bill Consolidation Loans
    Automobile Loans
    Back to School Loans
    Medical Expense Loans
    Financing the Purchase of Consumer Goods (Furniture, Appliances, Carpeting, etc)
    Home Improvement Loans

     

    Can I qualify for a personal loan?

    While individual lender requirements may vary, the basic requirements for a Personal Loan are:

    • Being at least 18 years of age
    • U.S. Citizen
    • A steady job or other source of regular income
    • Seeking $300 or more
    • Good to excellent credit history

     

    How much money can I obtain from a Personal Loan?

    You can borrow between $300 and $10,000!!

     

    How do you protect my information?

    Your privacy and security are of the utmost importance Oupac Financial Services! See our privacy policy for further details about our security.

     

    What happens if I am late on a payment or need to skip a payment?

    Most lenders apply a late fee for missing the loan payment deadline or asking to skip a payment. The type of fee is provided by the lender before you are asked to digitally sign a loan agreement. Please read these carefully before accepting the terms of the loan. Additional fees may apply so please read the terms of the loan prior to acceptance.

     

    How and when do I repay the loan?

    You and the lender will agree upon a monthly payment which you will be responsible for paying on or before the due date specified in your loan agreement. If you pay after the specified due date, your account will be assessed a late charge fee which will be due with your regular payment.

     

    Why is good credit important?

    Many people do not understand the importance of good credit.  Credit is important when applying for credit cards, applying for loans, buying or renting a home, getting a new job, applying to connect utilities, cable, telephone, internet, and cell phone services.

    In order to keep your credit in good standing, pay your bills on time, keep your credit accounts out of collections, keep open accounts in good standing, make sure your credit limits and activity are reported correctly.

    If you have a life changing event, contact your creditors to make arrangements and/or explain your financial situation before your account is sent to a collection department.  Avoiding creditors in any situation to avoid paying your bills will hurt your credit status and cause unnecessary stress to you and your family.

     

    What is the APR?

    The FEES and APR INTEREST RATES you will be charged for the loan are provided to you in a written document by the lender after acceptance of your application and before you are requested to digitally sign a loan agreement. If you are accepted by one of our lenders, the APR and FEES will be provided to you in a written document that you should review carefully before you are asked to sign any loan agreement.

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