When applying for a TopUp loan, you will get an estimate of the cash deposited to you. It’s important to note that there are several individual circumstances that could impact the final amount of cash you will receive. Please review these below:
Example #1: How long it takes to issue your loan.
Your payoff amount assumes 15 days of accrued interest. Depending on how long you take to accept your loan and complete the requirements for issuing the loan, Happen Bank may owe you a refund or you may have a few extra days of accrued interest that will be deducted from your extra cash.
Example #2: You’ve made a loan payment since accepting your offer.
We’ll refund the payment back to you via your payment method for your existing personal loan. For example, if you have been paying by electronic withdrawals from your bank account, Happen Bank will then electronically deposit any refunds owed to you.
Example #3: You are a Florida resident.
If you are a resident of the state of Florida at the time of issuing your TopUp loan, an additional Florida Stamp Tax fee will apply.
Example #4: You have unpaid late fees or outstanding payments on your previous loan.
If you have current payments due, it's important to continue making payments on your existing loan until your new TopUp loan is issued. However, if you owe any late fees or outstanding payments on your previous loan, we'll subtract that amount from your extra cash amount to cover the difference.
If we are unable to disburse any loan proceeds to pay off your existing Happen Bank loan for any reason, we may cancel your loan.
Please refer to the TopUp Borrower Agreement for additional information regarding how changes to the principal balance or fees incurred on your existing Happen Bank loan may impact the extra cash deposited to you.
