Responsible Lending Policy
Cash In A Flash adheres to responsible lending due to the following:
Cash In A Flash has no interest in lending people more than they can afford. When a borrower is lent more than they can afford to repay, we don’t get our money back. It’s pointless. We have no desire to put customers into financial hardship and we strongly believe in helping people with their short term money troubles without costing too much.
We’re your temporary fix. Payday lenders have a reputation for trying to lend you more than you can afford to repay and lock you in for a long period of time. With us, you’ll see a whole different kind of payday lender. We honestly don’t believe in putting you into further financial troubles and do our absolute best to ensure the loan amount you’re receiving is affordable.
It’s fast, easy and affordable. Our main goal in business is to help others get past those tough financial times. We are here when you need us most but only if our loans are suitable to you.
Employee beliefs. We are very lucky here at Cash In A Flash to have staff that share our visions and beliefs. Our staff understand our high values we place on every single customer with the intention to help them with their unpaid bills and surprise expenses.
We're honest. All our costs are showed to you before you sign on that dotted line! We believe in being upfront and honest with all costs associated with our loans. Why hide fees? All it’s going to do is cause unhappy customers and make us look “dodgy”.
We have a fast and easy to use lending calculator which helps our friendly staff to determine an affordable lending amount for you. We carefully assess every individual’s application, taking into consideration the customers income, expenses and other payday loans. All this together helps ensure we never lend more than you can afford to repay.
Below are some points that we look at when assessing an application:
At the time of application do you have more than one payday loan? We never become the third payday lender. A customer who needs more than two payday loans shows obvious financial struggles and may need assistance from a financial planner, not a payday lender. If you have had two or more payday loans within the last 90 days, we assess your affordability closely to ensure that you aren’t already within financial hardship. If there are recent debits from two or more payday lenders, Cash In A Flash will ask for proof that at least all but one have been finalised by way of a written statement or a phone call to the relevant payday lender before any loan assessment can take place. If proof is not provided as stated, Cash In A Flash will need to refuse to assess an application based on this policy.
Are there failed direct debit/s on your account within the last 90 days? Failing direct debits on your account show potential affordability and financial hardship issues. Adding more direct debits to your account could put you into more financial hardship which is something we will not do. We do understand accidents and mistakes can occur sometimes and you can forget about a direct debit and forget to leave the funds in your account. If this is the case, after further enquiries from our friendly staff with regards to the nature of the failing debits, Cash In A Flash may approve a loan to someone who has minimal failed direct debits within the last 90 days ONLY if those debits have since been paid or acceptable arrangements made to pay them.
Do you have a regular income? Cash In A Flash will never approve a loan to someone who does not have regular income and a clear regular payday. We do accept Centrelink Income when assessing applications.
Is your uncommitted income enough to cover our repayment amounts? Your uncommitted income is the income left over after all your utility bills, rent, petrol, food, clothing, medical, educational and other expenses are paid. If your uncommitted income is lower than our repayment amount, we will not be able to approve a loan application.