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FAQServicesDo you have a scholarship program for military service members?What other services do you offer? What services do you offer to help me prepare for deployment? LendingHow can I get information about an Internet loan?Am I eligible to apply for a loan? Do I need good credit to apply? What loan amount do I qualify for? I would like to consolidate all my bills. How can I do that? Can I re-apply for a lower amount if I have been denied? What is my estimated payment? Can I apply if I already have a loan? How do I apply for more funds? Will I have 2 loans when I refinance my loan? How many payments do I have to make before I can reapply? How will I pay for my loan? What is an EFT? Can I make a payment by credit card? Can I send additional payments? How do I get a refund if my allotment did not stop? How is my interest rate defined? Why is the APR higher than the interest? What is the "origination fee?" What is credit accident and health insurance, and is it required? When does my credit A&H insurance go into effect? What is the cost of credit life insurance? How do I change my personal info? Can you share loan information with my spouse? How can I contact you with other questions about my loan? Federal LegislationTell me about the new federal law that protects Service members from predatory lenders.Who is protected by this law? I have a loan with a payday loan company that is due after October 1. What should I do? If I do not pay off my payday loan, what are the consequences? ServicesDo you have a scholarship program for military service members?Yes, the Pioneer Services Partnership In Education Program is available to military service members, their spouse and dependents. For more information, visit Scholarships or submit your request to scholarships@pioneerservices.com.What other services do you offer?Visit your local office and take advantage of free notary services, copying, faxing, and Internet access.What services do you offer to help me prepare for deployment?Pioneer Services will help you with Financial, Family, Insurance and Legal Readiness services. For more information, visit our readiness services page.LendingHow can I get information about an Internet loan?Please go to PioneerMilitaryLoans.com - to apply online, check your loan status or read the "FAQs" for answers to loan questions.Am I eligible to apply for a loan?We accept, process and consider loan applications from active-duty and 20-year career-retired service members, as well as Department of Defense employees.Do I need good credit to apply?Credit history is only one of the criteria used to evaluate each loan request. While credit history is important, we will do everything we can to say, "Yes!" to your request.What loan amount do I qualify for?We suggest that you apply for the amount you want or need. Loan amounts are based upon your credit history, military rank, years in service, ETS and debt-to-income ratio. We are unable to pre-qualify you by phone; you must apply so we can look at your entire credit profile. If we are unable to accommodate that amount, but can offer you a loan for a lesser amount, we will communicate that offer to you.I would like to consolidate all my bills. How can I do that?After you complete the loan application, provide your most recent month-end LES (all pages), and a list of the bills you want to pay off, making sure to include each creditor name and your current balance. We will be glad to review your request and see if we can be of assistance.Can I re-apply for a lower amount if I have been denied?We consider all possible loan options during the evaluation process. If you have additional information not provided on the initial application that would be helpful, please provide us that additional documentation.What is my estimated payment?There is a financial calculator located on our website that provides estimated payment amounts. Please be advised that this is only an estimate and the final payment will be determined by the options you choose during the process.Can I apply if I already have a loan? How do I apply for more funds?To find out if you are eligible for additional funds, you must submit a new application. We will do everything we can to say "Yes!" to your request.Will I have 2 loans when I refinance my loan?If you have a current loan with Pioneer Military Lending we will, in most cases, pay off your existing account and start a new loan. The amount of your first loan will be the base of your new loan. This eliminates your need to make two monthly payments and makes it easier for you to meet your monthly obligations.How many payments do I have to make before I can reapply?Each loan request is evaluated individually. While we would like to see a minimum of six payments to establish a satisfactory payment history on your existing loan, we welcome our customers to apply at any time.How will I pay for my loan?We have several repayment options available, each with features and benefits designed to help you protect your credit history. Our two most popular options include:
What is an EFT?An Electronic Funds Transfer or EFT, allows for your payment to be electronically withdrawn directly from your checking account(s) or, in some cases, from your savings account(s).Can I make a payment by credit card?We offer several electronic payment options. If you need help setting up payment arrangements, please contact one of our customer service representatives. In addition to our repayment options, we have partnered with Western Union to provide Quick Collect Payment Services using your credit card. Just contact any Western Union Office, or visit their web site at www.westernunion.com. All you need is your account number or social security number. If the appropriate city code and state are not already filled in, please contact a Pioneer Services. (see "How can I contact you..." below)Can I send additional payments?If you would like to make an additional payment at any time, please mail it to:Pioneer Military Lending P.O. Box 10487 Kansas City, MO 64171. Please include your social security number or account number with any payments you send. How do I get a refund if my allotment did not stop?If your allotment-processing bank was PNC, please call 800-237-5142. If Bank One/Finet was your allotment-processing bank, call 800-351-1911.How is my interest rate defined?Interest rates vary from customer to customer. We consider several factors when determining your interest rate, including your credit history (based on a consumer credit report), your military rank, your years of service, and your debt-to-income ratio. We do not determine an interest rate until you apply so we can look at your entire credit profile.Why is the APR higher than the interest?The Annual Percentage Rate (APR) is the cost of your loan at an annualized rate. This includes any costs or fees that are shown on the most recent disclosure statement associated with your loan.What is the "origination fee?"The origination fee is the cost incurred in setting up and servicing your loan.What is credit accident and health insurance, and is it required?If you become disabled due to a covered accident or illness, your Accident & Health Benefits will pay your monthly payments according to the terms and conditions of the certificate. Insurance acceptance is not a requirement for getting a loan, but the peace of mind and assistance in time of need provided by the insurance coverage should not be overlooked. Without the insurance, you will still be required to make your monthly payments in the event of a covered accident or illness. For pennies a day it is worth it!When does my credit A&H insurance go into effect?Your Accident and Health insurance is in effect on the 14th day of any covered disability or illness. For every month that you are disabled the insurance will make one full payment on your account.What is the cost of credit life insurance?The premium is a one-time total cost that is included in your monthly payment. Therefore, it is spread out over the term of the loan. For example: Say your premium is $30, and the term of your loan is 15 months. If you divide the premium by the number of days in the 15 months, you can see your cost is literally pennies a day.How do I change my personal info?You will need to contact one of our Pioneer Services to change any information on your account.Can you share loan information with my spouse?In order to protect your privacy, we are prohibited to share any personal or financial information. Please consult our Privacy Policy. If you would like us to provide information about your account to your spouse, please provide a copy of a "Specific" or "Special" Power Of Attorney.How can I contact you with other questions about my loan?You may call 888-430-5176, from Sunday at 0700 hours through Friday at 2200 hours, or Saturdays from 0700-1800 hours (PST). You may also send us an e-mail at anytime to question@pioneermilitaryloans.com.Federal LegislationTell me about the new federal law that protects Service members from predatory lenders.Effective October 1, 2007, the Department of Defense final regulation of the Talent-Nelson amendment has imposed restrictions on certain types of consumer lending. The final regulation focused on predatory products, such as payday loans, car title loans, and tax refund anticipation loans (offered only during tax season in the spring). The most significant restriction is a 36 percent APR cap on loans to Service members and their dependents, protecting military families from excessive APR rates. These new restriction will severely limit certain lenders (payday and car title lenders especially) from continuing to do business with Service members and their families.Who is protected by this law?The law protects: • A regular or reserve member of the military, serving on active duty • The service member’s spouse and the service member’s childrenI have a loan with a payday loan company that is due after October 1. What should I do?Per your agreement with this company, your loan payment is due and payable on the due date as shown on the loan agreement and is expected to be paid in full on this date. If you need assistance to pay off this payday loan,visit one of our Pioneer Services offices or go on-line at www.pioneermilitarylending.com to apply for a personal installment loan.If I do not pay off my payday loan, what are the consequences?The payday loan company that you owe money to can report you to the credit bureau, impacting your credit rating. This in turn could affect your ability to secure/retain your security clearance. |
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