Frequently Asked Questions
Advantage1loans is a retailer of financial services, including check cashing, short-term consumer loans, gold and silver buying, bill pay and prepaid debit card services. We focus on serving consumers who seek an alternative to traditional banking relationships to gain convenient and immediate access to financial services.
An Installment Loan allows you to pay for your loan over a longer period of time than your traditional Payday Loan. Our Installment Loan product allows you to repay the loan in scheduled payments that are generally equal in amount (last payment may vary slightly). At Advantage, your Installment Loan can be repaid early, which will save you interest and fees (where applicable).
To apply online all you need to do is fill out our simple application. Advantage's paperless application process is a convenient, secure and simple way to fund emergencies or cover expenses. Our streamlined application process allows you to fill out and sign your loan documents on your computer without the need to fax unnecessary documentation.
You can borrow up to $1,500.
Your Installment Loan payments will be due on consecutive pay periods throughout the term (length) of your loan. You will be informed of the payment due dates and amounts when your loan is approved.
Payments and Cancellation Information:
Failure to make a timely payment on your loan or credit services transaction can have several consequences, including the following:
  • Financial Implications – Currently, no past due interest is assessed on any loans you may obtain from us or that we may arrange for you.  However, you may be assessed a late fee if you fail to make your payment by a specified period following its due date and you may be assessed with a returned item charge if any check or electronic payment we submit on your behalf is returned unpaid (late fee and returned item fees vary by state – see your transaction agreements for additional details).
  • Collection Activity – We may attempt to collect any delinquent amount through our standard collection practices, which include contacting you by phone, mail, SMS or email.  We may also exercise any of our rights under our loan or credit services agreements with you.  If we are unable to collect any delinquent amount you may have with us through such actions, we may also sell our debt to a third party debt buyer or engage a collection agency, who may also institute collection activity with you.
  • Impact on Your Credit Score – We do not currently report loan activity to any of the three major credit bureaus (Equifax, Experian or TransUnion).  However, we do use alternative credit reporting agencies such as FactorTrust.  Failure to make timely payment on your loan may reduce your score with such agencies, and prevent you from receiving credit or other services from a provider that uses such agencies.
  • Renewal of your Loan – We do not automatically renew any of our loans or credit services transactions.  Where refinances or renewals are available (varies by state), you may obtain a refinance or renewal of your loan or credit services transaction by logging in to your account prior to your due date and applying for a renewal or refinance.  In connection with any renewal or refinance, you will be required to e-sign new transaction agreements for such renewed or refinanced transaction and our standard rates for loans or credit services transactions will be assessed on such renewal or refinance (varies by state – see posted fee schedules).
Confidentiality: Your finances are always kept strictly confidential. We do not disclose any nonpublic personal information to anyone, except as required or permitted by law.