Life doesn’t always go as planned. You or a loved one may suffer an illness, face unemployment, or experience another hardship causing money struggles. Overland offers financial recovery loans to help you get back on track during difficult times.
In this comprehensive guide, we’ll explain what Overland financial hardship loans entail who qualifies required documents, interest rates, alternatives, and tips for getting approved.
What is an Overland Financial Hardship Recovery Loan?
Overland hardship loans provide emergency funds to borrowers facing an unexpected life event impacting their finances. The lender offers personalized loans from $1,000 to $100,000 to cover pressing costs.
You can use an Overland financial hardship loan for:
- Paying medical bills
- Catching up on overdue debt
- Covering basic living expenses
- Paying for home or auto repairs
- Consolidating high-interest debt
The funds provide temporary relief so you can regain financial stability
Overland Hardship Loan Requirements
To qualify for an Overland financial recovery loan, you must:
- Be a U.S. citizen or permanent resident
- Reside in a state where Overland operates
- Have regular income
- Have a checking account
- Meet minimum credit score requirements
The lender allows borrowers with bad credit or recent bankruptcy to apply. They review each application holistically.
Documents Needed to Apply
When applying for an Overland financial hardship loan, have these documents ready:
- Government-issued ID
- Proof of income
- Bank account statements
- Debt information
- Employment details
- Monthly expense breakdown
Providing complete, accurate information helps speed the process.
Overland Financial Hardship Loan Interest Rates
Overland hardship loan interest rates typically range from 5.99% to 35.99% APR, depending on your state, credit profile, income, and loan amount.
The lender provides customized quotes so you know the rate and terms upfront. There are no hidden fees.
Alternatives to Overland Financial Hardship Loans
Besides Overland, here are some other options to cover emergency costs:
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Credit cards – Use low-interest card or 0% APR introductory offer.
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401(k) loan – Borrow from your retirement savings (if allowed).
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Personal loan – Unsecured loan from a bank or online lender.
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Home equity loan – Secured debt using home equity as collateral.
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Payday alternative loan – Lower-cost emergency loan from a credit union.
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Borrow from family/friends – Interest-free option if possible.
Compare alternatives to find the most affordable financial relief for your situation.
Tips for Getting Approved for an Overland Hardship Loan
Follow these tips to boost your chances of Overland financial hardship loan approval:
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Check your credit – Review reports and resolve errors to improve your score.
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Pay down balances – Lower credit utilization by paying down card and loan balances before applying.
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Provide all documentation – Submit complete, accurate application info to expedite approval.
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Explain your hardship – Detail the circumstances of your financial setback so Underwriters understand.
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Consider a cosigner – Adding a cosigner with good credit can help with approval odds.
With responsible borrowing and prompt repayment, an Overland loan can aid recovery without worsening your financial distress.
How Soon Can I Get Loan Funds?
Overland hardship loans provide fast access to emergency cash. Here is the general timeline:
- Same day – Receive a lending decision.
- 1 business day – Get approval and finalize loan paperwork.
- 2-3 business days – Obtain loan funds via direct deposit.
The lender can expedite funding in as little as 24 hours in some cases.
What’s the Loan Term Length?
Overland financial hardship loan terms range from 12 to 60 months. The term depends on your:
- Loan amount
- Income
- Credit score
- Existing debts
- Repayment capabilities
A longer term leads to lower monthly payments but higher total interest costs.
Can I Pay Off My Overland Hardship Loan Early?
Yes, Overland allows early payoff of financial hardship loans without prepayment penalties. This helps you save on interest expenses.
Make extra payments or pay the balance in full before maturity to pay off the loan early. Check with Overland on the payoff process.
How Do I Apply for an Overland Financial Hardship Loan?
Applying for an Overland hardship recovery loan only takes a few minutes.
Follow these simple steps:
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Go to Overland’s website and click “Get Started”.
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Select your desired loan amount and purpose.
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Provide basic personal information.
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Upload or take photos of required documents.
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E-sign the loan agreement with terms.
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Funds deposit into your bank account once approved!
With Overland’s streamlined process, you can quickly access funds to overcome temporary financial struggles.
Let Overland Help You Recover from Financial Hardship
Unexpected setbacks can put you in a financial bind. Overland offers personalized hardship loans to help cover pressing expenses until your situation stabilizes.
With an understanding of their financial recovery loans, you can determine if borrowing makes sense for your situation. Responsible use of emergency funds can help you successfully traverse life’s ups and downs.
ACHIEVE FINANCIAL FREEDOM AT YOUR PACE
Don’t let debt dictate your life. Loans through Overland Funding offer the flexibility to repay your debt through manageable monthly payments spanning 24 to 60 months**.
A Simple Way to Borrow
Compared to other credit options, such as credit cards, an unsecured personal loan offers added reassurance. You can enjoy advantages like:
- No collateral requirements
- No balance transfer requirements
- No cash-advance fees
- No early payoff penalties
- Low, fixed monthly payments
- A fixed rate for the life of your loan
- Control in knowing exactly what you owe and when it will be paid off
How to Apply for a Hardship Loan
FAQ
Is hardship personal loan legit?
How does a hardship loan work?
Who will give me a loan if no one else will?
How do I get a hardship loan?
Below are the steps to getting a hardship loan: Check your credit report. Pulling your credit history before borrowing doesn’t hurt your score, and it could help you identify opportunities to clean up your credit report. Having a higher credit score can improve your approval odds and land you a lower interest rate. Compare interest rates.
What are hardship personal loans?
Hardship personal loans are regular personal loans that you can apply for when you face a hard time. Some lenders offer these loans to potential borrowers with lower credit scores.
What are some options for hardship loans?
Some options for hardship loans include unsecured personal loans. These loans are offered by credit unions and online lenders, many of which accept borrowers with low credit scores or thin credit histories.