Frequently Asked Questions
Security Finance offers traditional installment loans, which vary in amount, terms and available ancillary products based on the state of operation and the type of license obtained in that given state. Traditional installment loans — a type of credit that’s been around for more than a century — have terms consisting of equal monthly payments, and these terms are disclosed in accordance with the federal Truth in Lending Act and applicable state law.
The size of the loan offered will vary by state, and the loan proceeds (or, the cash you would receive) are in set increments in order to offer a selection of loan amounts with convenient monthly payments. Check the Branch Locator to see if there is a branch near you to learn more about what loans are available.
No, we do not make payday loans. Payday loans are another type of credit product. Here at Security Finance, we offer simple and secure installment loans.
We do not make internet loans; instead, we choose to locate branches within the community to offer personal service for your cash needs. However, you can start your inquiry easily online.
Check the Branch Locator for a branch near you. Then, you can either apply in person or call the local branch. And now, you can easily begin your loan inquiry online.
Branch personnel will need the following information:
- Your current (and possibly previous) residence
- Your employment history (and/or information on sources of income that you will use to repay the loan)
- Your Social Security number
- Your monthly expense items
And, as part of the application process, you must authorize us to obtain a credit-bureau report to further assess credit and payment history and to complete a budget.
Yes, you may pay off your loan at any time without a prepayment penalty.
A renewal, sometimes referred to as refinancing, is when you obtain another loan that pays off the balance of your existing loan (minus any refunds due to you) and gives the remaining net proceeds to you. This second loan has charges associated with it which will be disclosed on the note and disclosure in a format approved by the state in which the transaction occurs.
It is important to be familiar with the due dates of your payments, because a late payment may cause you to incur late fees. Your local Security Finance branch staff is here to answer any questions you may have — so don’t hesitate to use them as a resource. In the event of an unexpected problem, it is important to call the branch where you obtained the loan because they will have your records. The branch staff will do everything in their power to try to find a mutually beneficial solution.
Yes, we report information to Equifax and Transunion on a monthly basis. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.
If you wish to dispute any information that we have furnished to a credit-reporting agency, you should put the dispute in writing and mail it to us at:
c/o Consumer Reporting, PO Box 3146, Spartanburg, SC 29304.
Be sure to include your name, address and telephone number, along with your account number, the specific information you are disputing and an explanation of the basis for the dispute. You should also attach all supporting documentation or other information necessary to substantiate the basis of your dispute.