What YOU Can Do To Speed Up The Loan Approval Process
Cash Doctors prides itself on being the fastest payday loan provider in Australia and providing a service that meets the needs of its clients when they need it most.
On the odd occasion, there are times when loan approval can end up being a drawn out process. This is caused by two things:
1. Clients being slow to contact their payroll officer or letting Cash Doctors know that they’ve done it.
2. Cash Doctors being unable to get in touch with a clients payroll officer when carrying out an employment verification, which can cause frustration at both ends.
These checks are carried out to ensure that the all the client’s application details were entered correctly and that they are in fact meeting all the requirements of the Cash Doctors loan criteria.
Cash Doctors receives hundreds of loan applications every day so getting hold of a client’s payroll officer can take a while, however we do try our best to do it as soon as we can. That is why we have come up with a few handy hints that you can use in order to get the loan approval ball rolling.
1. Call your payroll as soon as possible and give them permission for us to call and check your details. We won’t call your payroll officer until you’ve given us permission, so it is up to you to make sure you’ve done it. You could even do it before submitting your application to save even more time.
2. Check that payroll has your correct details on file. A client may have moved house and not updated their address with their payroll. In such a case we need the client to fax us through some proof of address (such as on a bank statement).
Got a variable income? Check the figure that your payroll has on file as your regular or base income each pay cycle. If your pay on your application form doesn’t match your payroll’s files we will need to have a pay slip faxed to us as proof of income.
3. Check company procedures with your payroll officer.
Some companies require an employment verification fax from Cash Doctors (signed by the client) to be sent to the payroll containing the details that need to be verified.
It also pays to check whether or not payroll will confirm your bank details with us. Some companies will not give out or confirm bank account details, whether you give them permission or not. In which case you will be required to fax through a bank statement with these details on it.
So when you call your payroll officer, save yourself some waiting time and ask if any special procedures need to be followed for Cash doctors to check your details, and if that is the case, let us know immediately.
4. Ensure you give Cash Doctors the correct details for payroll.
This is especially important you work for a large company. If this is the case, make sure that you supply Cash Doctors with the name of the payroll officer you spoke to.
It is also helpful to give us a direct-dial number to the payroll office. This way your valuable time isn’t wasted while we get put on hold and transferred throughout the various departments.
5. Discuss with your payroll whether there is a specific time frame that suits them for Cash Doctors to call.
Payroll officers are busy people so they may not appreciate an outside company calling them 15 times a day trying to get hold of them. By specifying a time that suits them, not only are you keeping them happy, but you are also keeping yourself informed as to approximately how long your loan approval may take.
So there you have it. Five handy hints to help you speed up your loan approval process and get you back in the money as soon as possible.
Reader Comments
Posted By: Dora.Poloai - 30 June 2008 08:23:34
THANKS FOR YOUR HELP
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