When you apply for online personal loans, it could be minutes or hours before you hear back. In some cases, being approved for a loan is only the first step. Afterward, you may be required to sign documents or take other actions before you actually get the money. Let’s look at how you can track the progress of an online loan.
1. Contact Customer Support
The easiest way to get an update on your loan’s status is to ask a customer service representative. This may be done either over the phone or through the lender’s live chat feature. To get loan information from an actual person, you may need to verify your identity. Doing so usually means answering a security question or verifying personal characteristics like your social security number.
2. Access Your Account Online
Most online lenders will require you to create an account prior to applying for installment loans or other types of financing. Therefore, be sure to have your username and password handy to get into your account. Information may not be updated as it changes, so be sure to give a lender sufficient time to update your status before making a phone call to customer service. If you need to consult with a professional, Northcash may be able to provide you with additional information.
3. Check Your Email
You may receive an email updating you about your loan status as information becomes available. Make sure that you use an email address that you can access and that you don’t have a lender’s email address set as spam. It may also be worthwhile to setup alerts on your account to make sure that you know about any messages from a lender as they become available. If you have trouble receiving or opening messages, be sure to contact customer support.
4. Ask To Be Updated Via Text Message
These days, it may be possible for an individual to be updated by text message when his or her loan status changes. Like with email updates, it is important that you give the lender a valid number that you have access to. It may also be worthwhile to have an alert setting active on your phone to make sure that you see any incoming text message from the lender. It is important to note that allowing text messages regarding your loan may also allow a lender to send text messages about other loan products unless you specifically forbid it.
Getting a loan online may be faster and more convenient for those who are attached to their cell phones and other devices. While most online lenders offer decisions in minutes or less after an application is received, this isn’t always the case. Therefore, it is critical that you know how to track the status of your loan until a decision is made.