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Military Families Military Families

Banks that are advancing pay. ?

Anonymous
Posted by Anonymous
  • 27 Replies

I know Navy Federal is going to advance the pay like nothing has happened.

I know USAA is offering a interest free payroll advance loan that you will have to "apply" for.

People are going CRAZY on USAA's facebook page,  how they should do it like Navy Fed is and just give it to you, and that they shouldn't make people apply for a loan. These people are saying that they will leave USAA and go to where they are supported.

My question is-

Isn't Navy Fed also loaning the money, without calling it that? I mean, they're going to expect it to be repaid once military gets their backpay.  Seems to me, USAA just worded what it is the right way. Navy Fed IS offering you a interest free payroll advance loan, just like USAA is doing.

No, USAA won't just put the money in your account, because not everyone is going to need it. Navy Fed, even if you have money and don't need the advance you're still going to get it regardless. If you need the money, apply for it. It won't be denied due to credit, it isn't that type of application. USAA is simply going to give you payroll if you are affected, meaning you don't have the means to transfer money from someplace else or don't want to depend on the money you have someplace else.

That is all.

I don't know why people are jumping USAA's shit over this. They're loaning you money, Navy Fed is also loaning you money, they won't give it and expect nothing back in return!!! At least USAA is giving their customers a choice in taking it or not, unlike Navy Fed.

Stay off USAA's back.  If I were them, and saw all this complaining, I would take back my offer and tell you tough cookies.

Posted by Anonymous on Sep. 26, 2013 at 8:30 AM
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Replies (1-10):
jas_momof2
by アニメの雌犬 on Sep. 26, 2013 at 8:35 AM

The entitlement and lack of personal responsibility is scary...

Katkinson
by Kristin on Sep. 26, 2013 at 8:36 AM
2 moms liked this

yes, but navy fed isn't requiring anyone to "qualify" like USAA is.  if you read their statment it says they are giving out loans to those who qualify.  Young soldier or sailor with shitty credit= no help. 

Navyfed is just trying to make it so there is an absolute zero impact on its customers. 

Either you are misunderstanding what USAA is doing or I am.  I know they specifically used the word "qualify" which implies they won't be giving money to everyone who asks for it. 

Either way, don't worry so much.  It's not going to happen.  My panties are in a bunch over the sickening use of decent folks ( gov't workers, soc. security collectors, survivors, military) being used as pawns.  It's a disgusting government tactic and completely unethical.  Screw the money. 

I think there should be a rule that if they want to pull this junk every other week, THEY have to suspend their pay. . .afterall; they aren't effectively doing their jobs.  I bet it would rarely happen again. 

AMRios
by on Sep. 26, 2013 at 8:39 AM

Navy Federal is not making you apply for it... They are going to put it in your account just like you would get paid... Then when the government pays us they will just keep it... It is not running your credit and effecting your debt to income ratio like it is with USAA... I do not see why people are complaining about it... If you don't like what your bank is doing take your money out and go somewhere else... Problem solved...

Anonymous
by Anonymous 1 - Original Poster on Sep. 26, 2013 at 8:58 AM
3 moms liked this
You misunderstood them. They're not running credit checks on people. Qualify means you have direct deposit of a government affected payroll check.

They have responded to this question several times on peoples rants on their page.


Quoting Katkinson:

yes, but navy fed isn't requiring anyone to "qualify" like USAA is.  if you read their statment it says they are giving out loans to those who qualify.  Young soldier or sailor with shitty credit= no help. 


Navyfed is just trying to make it so there is an absolute zero impact on its customers. 


Either you are misunderstanding what USAA is doing or I am.  I know they specifically used the word "qualify" which implies they won't be giving money to everyone who asks for it. 


Either way, don't worry so much.  It's not going to happen.  My panties are in a bunch over the sickening use of decent folks ( gov't workers, soc. security collectors, survivors, military) being used as pawns.  It's a disgusting government tactic and completely unethical.  Screw the money. 


I think there should be a rule that if they want to pull this junk every other week, THEY have to suspend their pay. . .afterall; they aren't effectively doing their jobs.  I bet it would rarely happen again. 


Anonymous
by Anonymous 1 - Original Poster on Sep. 26, 2013 at 8:59 AM
1 mom liked this
Usaa won't affect debt to income either.

Nothing has been said in that regard.

Qualify in this case means

You're a affected person

And have a direct deposit paycheck.



Quoting AMRios:

Navy Federal is not making you apply for it... They are going to put it in your account just like you would get paid... Then when the government pays us they will just keep it... It is not running your credit and effecting your debt to income ratio like it is with USAA... I do not see why people are complaining about it... If you don't like what your bank is doing take your money out and go somewhere else... Problem solved...


Katkinson
by Kristin on Sep. 26, 2013 at 9:00 AM

 . . . link?  Because from what I'm reading, my statement is correct. 

 


Quoting Anonymous:

You misunderstood them. They're not running credit checks on people. Qualify means you have direct deposit of a government affected payroll check.

They have responded to this question several times on peoples rants on their page.


Quoting Katkinson:

yes, but navy fed isn't requiring anyone to "qualify" like USAA is.  if you read their statment it says they are giving out loans to those who qualify.  Young soldier or sailor with shitty credit= no help. 


Navyfed is just trying to make it so there is an absolute zero impact on its customers. 


Either you are misunderstanding what USAA is doing or I am.  I know they specifically used the word "qualify" which implies they won't be giving money to everyone who asks for it. 


Either way, don't worry so much.  It's not going to happen.  My panties are in a bunch over the sickening use of decent folks ( gov't workers, soc. security collectors, survivors, military) being used as pawns.  It's a disgusting government tactic and completely unethical.  Screw the money. 


I think there should be a rule that if they want to pull this junk every other week, THEY have to suspend their pay. . .afterall; they aren't effectively doing their jobs.  I bet it would rarely happen again. 



 

jas_momof2
by アニメの雌犬 on Sep. 26, 2013 at 9:00 AM

No one can read...

Quoting Anonymous:

Usaa won't affect debt to income either.

Nothing has been said in that regard.

Qualify in this case means

You're a affected person

And have a direct deposit paycheck.



Quoting AMRios:

Navy Federal is not making you apply for it... They are going to put it in your account just like you would get paid... Then when the government pays us they will just keep it... It is not running your credit and effecting your debt to income ratio like it is with USAA... I do not see why people are complaining about it... If you don't like what your bank is doing take your money out and go somewhere else... Problem solved...




AMRios
by on Sep. 26, 2013 at 9:02 AM

If you take out a loan from anywhere it effects your debt to income ratio... Navy Federal is not considering it a loan and is not checking your credit... If USAA checks your credit and gives you a personal loan then yes, it effects your credit score for having it checked and effects your debt to income ratio because now you are in debt to USAA...

Quoting Anonymous:

Usaa won't affect debt to income either.

Nothing has been said in that regard.

Qualify in this case means

You're a affected person

And have a direct deposit paycheck.



Quoting AMRios:

Navy Federal is not making you apply for it... They are going to put it in your account just like you would get paid... Then when the government pays us they will just keep it... It is not running your credit and effecting your debt to income ratio like it is with USAA... I do not see why people are complaining about it... If you don't like what your bank is doing take your money out and go somewhere else... Problem solved...



jas_momof2
by アニメの雌犬 on Sep. 26, 2013 at 9:03 AM

lmao

Anonymous
by Anonymous 1 - Original Poster on Sep. 26, 2013 at 9:04 AM
1 mom liked this
Yes they are considering it a loan. They're loaning you the money are they not?

Usaa worded it how navy fed should have worded it.

Navy fed isn't giving he money to you for nothing. They're going to expect payment for it just as usaa will once shutdown is over.


Quoting AMRios:

If you take out a loan from anywhere it effects your debt to income ratio... Navy Federal is not considering it a loan and is not checking your credit... If USAA checks your credit and gives you a personal loan then yes, it effects your credit score for having it checked and effects your debt to income ratio because now you are in debt to USAA...

Quoting Anonymous:

Usaa won't affect debt to income either.



Nothing has been said in that regard.



Qualify in this case means



You're a affected person



And have a direct deposit paycheck.







Quoting AMRios:

Navy Federal is not making you apply for it... They are going to put it in your account just like you would get paid... Then when the government pays us they will just keep it... It is not running your credit and effecting your debt to income ratio like it is with USAA... I do not see why people are complaining about it... If you don't like what your bank is doing take your money out and go somewhere else... Problem solved...





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