Frequent Questions We Receive From Customers

Here are the answers to frequently asked questions about the various loan services that are provided through ARCCT. Please feel free to contact us for additional help.

Auto Loans

Q: Will I be required to have a large down payment?
A: Not generally. It just depends on the price of the vehicle, and what you want your monthly payments to be. A larger down payment will result in lower monthly payments. Be sure and ask your lender about incentives and trade-in allowances that will help lower the down payment required.

Q: Can I get a car loan with a bankruptcy still showing on my credit report?
A: Although bankruptcy can make getting a loan more difficult, in most cases, a discharged bankruptcy should not prevent you from being approved for a car loan.

Q: What do I do if I cannot make a payment?
A: First and foremost, contact the lender! If you have a good track record in making your payments on time, they will mostly likely be willing to work with you on your payment schedule. Communication is the key! If no effort is made on your part, the lender will likely not be as willing to work with you. Totally ignoring the lender will result in repossession.

Q: Are there auto loans for first-time buyers?
A: Most definitely! Although being a first-time buyer may be difficult, it is worth the effort. Again, be sure to ask about incentives and special finance programs geared toward first time buyers.

Debt Consolidation Services

Q: What is a consolidation loan?
A: If you have several loans, or many loans with a high interest rate, you might want to consolidate them all into one loan with a lower interest rate. This way you are consolidating your debts and you can save money with the lower interest charge.

Q: What kinds of debts can be consolidated?
A: Most financial obligations including student loans, credit card debt, and other high interest rate loans can be consolidated.

Q: When should debt consolidation be considered?
A: If you have a several accounts with interest rates above 25%, maybe you have multiple monthly payments that are becoming a hassle to keep up with, or you feel like your finances in general are becoming overwhelming.

Payday Advance Loans

Q: When will I get the loan money be disbursed?
A: Normally, the money is deposited into your account with just a few hours after your loan is approved. This is generally a very quick process so there is no long wait to get the money you need.

Q: Will I need a co-signer?
A: Absolutely not! A payday loan is a type of signature loan. You will not need any collateral or a co-signer.

Q: Are there penalties for paying off my loan early?
A: No, you will never incur extra fees for paying your payday loan off before it is due.

Q: What if I cannot pay the loan off by the due date?
A: Contact the lender to make payment arrangements. Although, we definitely encourage you to pay your entire loan off by the due date, you will be able to extend your loan in some circumstances.

Q: Are there restrictions on how I can use my cash advance?
A: No, you may use the cash advance for any purpose.

Q: Can I get a payday advance loan for more than $2,000?
A: Not typically, you have to remember that a payday loan is a short term loan generally approved for amounts under $2,000. If you need a larger amount, you might want to consider a personal loan.

Q: What is the minimum credit score for getting a payday loan?
A: Typically, your credit score is not a consideration for the loan approval.

Personal Loans

Q: I need to borrow money but don’t have collateral, can I still get a loan?
A: Yes, unsecured personal loans are available for those who qualify.

Q: What can I use a personal loan for?
A: A personal loan is a good option for people who need money for various purchases and/or expenses; legal fees, weddings, college expenses, paying off high-interest debt, and home improvements are some of the most common ways in which people use a personal loan for.

Q: What is the interest rate on a personal loan?
A: This varies greatly depending on the area you live in and the type of personal loan you are looking for. This will be an important question to ask your specific loan officer.

Q: What is the difference between a secured personal loan and an unsecured personal loan?
A: Basically with a secured personal loan, you will have to have some sort of collateral because the lender is at a higher risk in lending you the money. This way, if you default on your loan, the lender will gain possession of the collateral. With an unsecured personal loan, no collateral is required. Another plus to unsecured personal loans is that they have a lower interest rate.

Title Loans

Q: What is a title loan?
A: An auto title loan is a loan in which the title to your auto, rv, motorcycle, or boat is handed over to the lender until the loan is paid off.

Q: Does the lender keep my vehicle?
A: No, you will keep your vehicle, only the title is kept.

Q: Can I get a title loan with bad credit?
A: No credit check is necessary for a title loan approval, so it doesn’t matter if you credit score is 520 or 780!

Q: How much time will I have to repay a car title loan?
A: A lot depends on the state in which you live, but in general, title loans range from 6 – 18 months.

Q: Is getting a title loan difficult? Is there a lot of paper work involved?
A: Actually a title loan is not as hard as getting a conventional bank loan. You will be required to have the title to the vehicle, and complete some basic paperwork. The process is easy and quick, as most people have their money in just hours.

Bad Credit

Q: What credit score is considered “bad credit”?
A: Any score lower than 620 is considered “bad”.

Q: How can I improve my credit score?
A: Obviously, the most important thing you can do to boost your credit score is to make every payment on time. Additionally, keeping your balances low and paying off debt will increase your credit score over time.

Q: How long does it take to rebuild credit?
A: It depends on what is currently on your credit report. A bankruptcy, tax lien, or judgment can remain on your credit report for up to 10 years. Other negative credit activities, such as delinquent accounts, will show for seven years.


Q: How do I apply for the loan?
A: You can apply for any loan product online. Just select the type of loan you would like to apply for and the complete the short online application. If you have all of your information on hand, this process takes less than five minutes.

Q: How do I contact ARCCT for additional help?
A: Simply fill out the short form on our “contact us” page

Q: Can I apply for any of these loans by telephone?
A: No, due to security and privacy issues, we cannot accept application via phone.

Q: Is there a charge to apply online? Do you ask for any type of payment?
A: No, applying online is absolutely free. We will never ask for any type of payment.