ALLOTMENT LOANS FOR POSTAL EMPLOYEES

Postal allotment loans provide an option for USPS postal employees to acquire a loan with a minimal number of requirements and favorable terms.  This includes no credit check loans, and is especially important when you need emergency cash!  In most cases a “payroll deduction plan” will be required.

MINIMUM REQUIREMENTS TYPICALLY NEEDED TO QUALIFY FOR A postal ALLOTMENT LOAN

• You must be employed with the post office for a minimum of one year
• You must physically work a minimum of 32 hours each week
• You will most likely need a Minimum Net Take Home Pay of $800
• You cannot be in the middle of a bankruptcy
• Where applicable, you must be paying your State and Federal Taxes
• You may be ineligible if you currently have other loans coming out of allotments (Ask Your Lender)

Creditors are more likely to approve a loan for USPS employees because they have a secure job, along with a steady and reliable income.  They are also aware that job security is likely to continue in most circumstances.

In most cases, loan companies offering these loans will not require a credit check.  That alone makes the application process needed to apply for a loan much quicker because there is a lot less paperwork to fill out. 

Since lenders prefer to loan money to people with a stable job, loans for postal allotment loans are considered high-priority loans for many lenders. Therefore, postal workers can usually count on getting money whenever they need it, although the above conditions (or similar conditions) may be required in most cases.

IMPORTANT INFORMATION REGARDING A POTENTIAL LENDERS TERMS

 When looking for a premier loan provider, you should inquire about the following.

• You want to be provided with loan terms convenient for you.
• Additional Fees.  Are there any processing fees or additional charges.
• Check to see if there are any penalties for making additional payments or paying off your loan early.
• Find out if your application affects your credit score.
• Ask what your annual rate will be.  (This may depend on what state you live in).

Quite often the loan application and approval can be completed in a very short period of time.  Once approved, you can usually expect the money to be transferred the next business day via ACH.  (Fridays and holidays excluded).

HOW TO SPEED UP THE PROCESS OF GETTING YOUR LOAN APPROVED.

Postal allotment loans are not time-consuming when it comes to the process of supplying the information needed by the lender. It’s best to gather the information below, and have it all ready when applying for a loan.  Most companies will have a Toll Free number to call if you have any questions, along with the ability to Text or Fax information required.

Loans for Postal Employees typically require the following;

• Pay Stubs
• Copy of Postal ID Badge
• Date of Hire
• Copy of Driver’s License
• Copy of Social Security card or a W2 with Name and Social Security number on it
• Copy of a Utility Bill with your Name and Mailing Address
• Banking Information.  Voided Check or Bank Statement with Full Account # and Routing #
• A Phone Number Where You can be Reached

ATTRACTIVE FEATURES OF POSTAL ALLOTTMENT LOANS

1. The qualifications are minimal and do not require a credit check.
2. There’s very little paperwork.
3. Approvals are usually very fast.
4. The interest rates are fixed for the term of the loan.
5. You can use the money for whatever you want including emergencies, home remodeling, a vacation, a wedding etc.
6. Refinancing is often available throughout the loan if you need more money.