FAQs
Creditify.ph provides a marketplace service. Our service is always free, there is never a cost to you for submitting an inquiry. Your lender will have its own rates and fees that will be provided to you before you accept the loan. Creditify.ph is not a lender and does not make credit decisions.
New customers may have questions about Creditify.ph, which is why we have compiled the most common questions below. If you have a question that is not answered here, we are happy to answer your questions.
If you have questions regarding a loan inquiry, approval, funded loan, payments or any other question about a particular loan, please contact your lender or lending partner directly. If you received a loan, you should already have the lender’s or lending partner’s contact information. Since we are not the lender or lending partner, we cannot answer questions about pending or approved loans.
What is a short term loan?
Personal loans might be called different things, but they’re all designed to provide you with temporary financial relief.
Who can qualify for a personal loan?
○ Be employed in your current position or have another source of adequate and predicable income;
○ Be at least 18 years old, and a PH citizen or a permanent resident;
○ Have a valid email address, work phone number and home phone number;
How much can I borrow?
The amount a lender or lending partner is willing to give you depends on how the lender or lending partner evaluates a number of factors. Many lenders or lending partners in our network will loan between 200 and 25,000 PHP.
If I have bankruptcy or bad credit, can I still get a loan?
Each lender or lending partner has its own underwriting policies. We are trying help everyone who wants a loan.
How long does the process take?
It should only take a few minutes to complete our secure online form. After we receive your information, we immediately start looking for a lender or lending partner that is willing to work with you.
What is the cost of a short term loan?
There is no cost to use Creditify.ph’s marketplace service. The actual cost of your loan may vary by lender or lending partner. You will be provided information on the rates and fees before you accept the loan. Personal loans are not designed as long term financial solutions. Please only accept a loan if you believe you have the ability to repay it.
If I already have an outstanding cash advance loan is it possible to get a new one?
You may be allowed to secure more than one personal loan at any given time, but this will depend on your lender’s or lending partner’s practices. If you have an outstanding personal loan or other personal loan, you should let your new lender or lending partner know about it before you accept a new loan.
When and how do I repay my loan?
For all details about the personal loan, including repayment, you need to coordinate with your lender or lending partner.
What happens if I’m late with a payment?
Each lender or lending partner has its own late payment policy and fees. Check your loan documents for details or contact your lender or lending partner directly. Some states may regulate or limit late fees.
When can I get another loan?
You can use our service to get a new loan at any time (subject, of course, to law restrictions). If you have recently taken out another personal loan that is still outstanding, please inform your new lender or lending partner before accepting a new loan.
Is an extension possible on repaying my loan, and how many extensions can I get?
The rules on extensions or “rollovers” varies among lenders or lending partners. If you need an extension on your loan, make sure to contact your lender or lending partner before you miss any payments. Most lenders or lending partners will work with you to help you avoid missing payments or defaulting on your loan.
What happens if I’m not able to repay my loan?
If you can’t make your loan payments on time, you may be in default of your loan obligations. Late payments and loan defaults may adversely affect your credit and may make it difficult to obtain future personal loans. If you can’t make your payments on time, don’t ignore it! Talk to your lender or lending partner ahead of time and see what they can do to help you make the best of the situation.
Important Disclosures. Please Read Carefully.
Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend. Creditify.ph is not a lender or lending partner and does not make loan or credit decisions. Creditify.ph connects interested persons with a lender or lending partner from its network of approved lenders and lending partners. Creditify.ph does not control and is not responsible for the actions or inactions of any lender or lending partner, is not an agent, representative or broker of any lender or lending partner, and does not endorse any lender or lending partner. Creditify.ph receives compensation from its lenders and lending partners. Regardless, Creditify.ph’s service is always free to you. You are urged to read and understand the terms of any loan offered by any lender, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.By submitting your information via this website, you are authorizing Creditify.ph and its partners to do a credit check, and a review of your creditworthiness. You also authorize Creditify.ph to share your information and credit history with a network of approved lenders and lending partners.
Lender’s or Lending Partner’s Disclosure of Terms.
The lenders and lending partners you are connected to will provide documents that contain all fees and rate information pertaining to the loan being offered, including any potential fees for late-payments and the rules under which you may be allowed (if permitted by applicable law) to refinance, renew or rollover your loan. Loan fees and interest rates are determined solely by the lender or lending partner based on the lender’s or lending partner’s internal policies, underwriting criteria and applicable law. Creditify.ph has no knowledge of or control over the loan terms offered by a lender and lending partner. You are urged to read and understand the terms of any loan offered by any lenders and lending partners and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
Late Payments Hurt Your Credit Score.
Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lenders and lending partners immediately and discuss how to handle late payments.