FAQ

What is the difference between a secured personal loan and an unsecured personal loan? 

A secured personal loan is a loan that requires you to use your personal property as collateral (for example, a vehicle, laptop, etc.). 

Unsecured personal loans are loans that do not require collateral. 

Some customers may not be eligible for all loan types. 


What is Loan Payment Protection Insurance? 

Loan Payment Protection Insurance (PPI), also known as credit insurance and/or credit protection insurance, is an optional insurance you can purchase to assist you with making loan payments when certain unexpected events prevent you from making your monthly loan payments. 

Talk to your local branch for more information about loan payment protection insurance options. 


What are the major types of Loan Payment Protection Insurance? 

Credit Life, Credit Disability, Involuntary Unemployment, Property, Property Auto are types of loan payment protection insurance. 

Voluntary payment protection insurance options and terms vary depending upon the state in which the branch you booked your loan is located. Not all insurance types are available in all states. 


What is credit life insurance? 

Credit life is insurance that pays the covered balance of the loan in the event of the insured’s death during the term of coverage.

What is credit disability insurance? 

Credit disability is insurance that pays an amount toward the debt for a specified period of time while the insured is unable to work as a result of a qualified injury or sickness lasting longer than any applicable waiting period. 

What is credit involuntary unemployment insurance? 

Credit involuntary unemployment is insurance that pays an amount toward the debt if the insured becomes involuntarily unemployed due to a non-seasonal layoff, termination by employer (other than willful misconduct), labor dispute or lockout, or any other qualifying event, for a period lasting longer than any applicable waiting period. 

What is credit property insurance? 

Credit property insurance is insurance that protects the insured creditor’s interest in the borrower’s collateral (personal property) against certain types of direct and accidental loss or damage to the collateral during the term of coverage. 

What is property auto insurance? 

Property auto insurance is insurance that protects the insured creditor’s interest in the borrower’s collateral (vehicle) against certain types of direct and accidental loss or damage to the collateral during the term of coverage. 

Property auto insurance does not replace and is not a substitute for liability or other insurance required by state law and/or your loan contract.  


Is Payment Protection Insurance required for me to get a loan? 

Credit property insurance is required on all personal property secured loans, but you are able to purchase insurance from any carrier of your choice. 

 

All other payment protection insurance products are optional. 


If payment protection insurance is required for my personal loan, do I have to purchase this insurance from Republic Finance? 

No. Although you have the option to purchase payment protection insurance from Republic Finance, you may purchase insurance from any carrier of your choice.   

 

Always check your current existing coverage and memberships to ensure you are not obtaining unnecessary coverage. 


What is Fortegra Motor Club membership? 

Fortegra Motor Club membership is a roadside assistance program that offers a variety of services, which can include towing, winching, battery charging, lockout, tire changes, fuel delivery, key replacement, travel discounts, and more. Motor club membership is not loan payment protection insurance.   

Always check your current existing coverage and memberships to ensure you are not obtaining unnecessary coverage. 


What is the difference between pre-qualifying for a loan and applying for a loan? 

Pre-qualification gives you an estimate of loan terms you may qualify for based on your credit and the information you provide. Final approval and loan terms are contingent on completion of a full loan application.   

Does pre-qualifying for a loan impact my credit score? 

Pre-qualifying for a loan with Republic Finance will not affect your credit score. 

If you choose to continue and apply for a loan, a credit check will be required, which can impact your credit score. 


How do I find out the status of my online or branch application? 

You can check the status of an online application by logging into your application account here. For branch applications, you can call your local branch to find out the status. If you have not started an application yet, you may get started here

I received a loan check in the mail, is it real?  

Yes, it is a real loan check!  A loan check is a preapproved loan offer. Click here for more information about our loan checks. 

What is the difference between interest rate vs APR? 

The interest rate deals with the costs you will pay to borrow money. The interest rate only includes the interest percentage you will be charged for borrowing the money and does not include any other fees you might be required to pay on the loan. 

The Annual Percentage Rate (“APR”) is not the same as the interest rate. The APR is the interest rate plus the fees you may be required to pay on the loan (i.e. origination fees, closing fees, documentation fees, and other finance charges) and is expressed in terms of a percentage rate. The APR will typically be higher than your interest rate. 


How do I estimate my monthly payment? 

You can use this loan calculator to estimate your monthly loan payment, Federal APR, and chance of qualifying. 

How do I find my payoff amount? 

Contact your local branch or Republic Finance at 1-833-907-1734 to determine the total amount necessary to pay the entirety of your loan. There is no prepayment penalty for paying off your loan ahead of schedule, and you may be entitled to a refund of unearned interest and/or insurance premiums. 

How do I find my payment history? 

You can access your payment history by logging in to your account online, contacting your local branch, or calling 1-833-907-1734.  

How do I set up recurring payments (“AutoPay”)? 

Republic Finance offers AutoPay in the form of recurring debit or recurring ACH payments. You can set up AutoPay through your online account or by visiting your local Republic Finance branch. 

The ability to set up AutoPay may be limited based upon certain account statuses. Contact your local branch or call 1-833-907-1734 for more information if you are unable to set up Autopay.  


Can I change my payment due date? 

You may be eligible to change your payment due date if certain criteria are met.  Contact your local branch or call 1-833-907-1734 so we can help determine if changing your payment due date is possible for you.   

What can I do if I am unable to make my monthly payments? 

If you cannot make a payment now, need more time, or want to discuss payment options, contact your local branch or call 1-833-907-1734 to see what we can do to help. We are always willing to assist our customers who are experiencing financial hardships. 

What does it mean to refinance my loan? 

Refinancing a loan replaces your existing loan with a new loan that potentially has a new interest rate, revised terms, and/or revised repayment timeline. The new loan amount will include any loan origination fees and voluntary insurance products you agree to purchase, if allowed by state law. 

Why was my application declined? 

If your application was declined by Republic Finance, you should receive a written notice in the mail that provides information about why you were denied. 

How can I get a hard copy of my loan contract? 

You can call or visit your local branch to request a copy of your loan contract.