Frequently Asked Questions

Frequently Asked Questions

Mountain Summit Financial, Inc. is dedicated to offering the fastest and most hassle-free lending available. Our simple loan process is designed to get you the money you need, when you need it most. In order to assist you with questions you may have about the loan process; we have compiled a list of frequently asked questions, and answers to these questions.

How will I know if I have been approved?

If your information is complete and accurate, you should be contacted within 15 minutes from the time you submit your application. If you have applied outside of normal business hours, we will contact you the following business day.

How and when do I receive my money?

When you apply, you are given options on how you wish to receive your funds. You may authorize us to deposit the loan amount into your bank account by electing to receive an ACH credit. With this option, the funds should be available in your bank account on the next business day. For a small fee, we can process your funds via wire transfer, which will allow your funds to be sent to your bank on the same business day. These options could be delayed if we are unable to verify the information on your application.
You also have the option to receive your funds by check. You should allow 7 to 10 business days for the funds to be sent to you through the postal service.

How and when do I repay my loan?

Your Consumer Loan & Arbitration Agreement provides you with the terms of your loan and will contain a 20-payment schedule that will show you your payment dates and the amounts owed on those dates. However, you may visit our website and view your payment options at any time to pay additional amounts toward your principal, or to pay your loan off earlier without penalty and your finance charges will be prorated. If you have any questions about your payment schedule, you may also call Customer Service at 855-819-7200 or reach an agent via Live Chat from our website.

How much can I qualify for?

If this is your first loan you may qualify for up to $1000.00. With subsequent loans you may qualify for as much as $1200.00.

How much does the consumer loan cost?

Our service fee is $30 per $100 loaned. This fee is charged every two weeks on your due dates, based upon the principal amount outstanding. Qualified returning customers may be eligible for rate discounts.

Am I able to pay off my loan early?

Yes, you may visit our website and view your payment options at any time to pay additional amounts toward your principal, or to pay your loan off earlier without penalty and your finance charges will be prorated. If you have any questions about your payment schedule, you may also call Customer Service at 855-819-7200 or reach an agent via Live Chat from our website.

If sufficient funds will not be available on my payment due date, what should I do?

Contact Customer Service at 855-819-7200 and an agent will be available to assist you with exploring other payment options. If we are not contacted and your payment returns for insufficient funds, you will be charged a returned item fee of $20 and your payment may be resubmitted. If that payment returns for insufficient funds, your account may be suspended until all monies are paid, and our collection process will begin.

Can I have more than one loan at a time?

You are only eligible to receive one loan with us at a time.

How do I get another loan once my loan is paid off?

You have two options; you can reapply online at https://www.mountainsummitfinancial.com by using the Returning Customer link, and logging in with the Social Security Number and e-mail address used when applying for your loan, or you can call Customer Service at 855-819-7200 to reapply.

Is my transaction private?

Absolutely, we utilize a secure 128-bit SSL certificate for all input items. We also employ several different security certification services to prevent hacking or data intrusion. We strive to constantly adapt to new technologies to provide better security.

Is there an application fee?

No, you will never be charged an application fee.

What if I have poor credit or no credit?

Though you are not guaranteed, these short term loans are designed to help individuals with Bad Credit or No Credit. We base our decision on the information you have provided in your application and may run a credit check using a specialized credit bureau.

What if I have an outstanding consumer loan with another company?

If you have more than two active loans, we will be unable to assist you.

How can I opt-out from receiving text messages?

If you have previously given consent to receive text messages and have changed your mind, you can opt out of receiving further text messages by reply texting the word "STOP" to a previous text or by calling us at 855-819-7200.

What kind of text messages will I receive?

You will receive messages including but not limited to:
  • notifying you as to important issues regarding your account
  • payment reminders
  • obtaining information necessary for us to service your account
  • collecting on your account
  • promotional messages

How do I contact you?

We look forward to hearing from you; you can contact us by phone at 855-819-7200, by email at customerservice@mountainsummitfinancial.com, or you may log on to our website at https://www.mountainsummitfinancial.com to LiveChat with an agent.

Can I apply by telephone?

Yes, you can. Call Customer Service at 855-819-7200, but you will need computer access to complete your transaction.

What is a consumer loan?

A consumer loan is a short-term, small-principal loan that is repaid in installments in accordance with a payment schedule set out in the Consumer Loan & Arbitration Agreement.

Why is there so much information in the Loan Agreement?

The Loan Agreement is a contract that complies with federal requirements. It outlines the financial terms of the consumer loan, including the cost of the loan, dollar amount of the loan, annual percentage rate, method of repayment and schedule of repayment whether you choose to pay it off on your first due date or follow your Consumer Loan & Arbitration Agreement.

How do I know that the amount to be withdrawn from my account is the amount you say?

If you select the Electronic ACH option and provide an ACH authorization, we will be authorized to use the Federal Reserve Wire System, and must adhere to NACHA rules and regulations. The amount to be withdrawn from your account will be the amount that is authorized by you in your Consumer Loan & Arbitration Agreement. If you see a different amount, please give us a call at 855-819-7200 so that we may rectify that error.

Do you accept debit cards for making payments on my loan?

Yes! In an effort to provide you with a better experience, we have added debit cards as a form of payment. We make this easy for you through the self-service portal on our website. You can add a debit card to your account at https://www.mountainsummitfinancial.com by following the steps below.
  • Login to your account as a returning customer
  • From your Account home page, click the link titled "Personal Information" then click the link titled "Financial Information".
  • Under the section titled "Debit Card Information", click the link "Add New Card".
  • Follow the steps in the online form for adding your debit card, agree to the terms and you are on your way!

Will I receive confirmation that my debit card was successfully added to my account?

Yes, you will receive an email notification once your card has been added. You will also be able to review and make edits to the information you have added at https://www.mountainsummitfinancial.com.

If I change my mind, can I go back to ACH billing?

Yes! You may contact one of our Customer Service Agents at 855-819-7200 for assistance with this change.

Can I add a credit card to pay my loan?

Sorry, we only accept bank-issued debit cards.

Are there any fees when paying with my debit card?

We will not charge you any fees for using your debit card.*

What are the advantages of debit card payments?

Debit transactions are instant, so you won’t have to wait for days to confirm that your payment was processed. With debit card payments, if you don't have the funds in your debit card account, the payment will be declined so you won't have to worry about bank overdraft charges.*

Are debit card payments secure?

Your Debit card information is secure with us and the processing of your payments are secure as well. If your card were lost or compromised, you can simply have your financial institution issue you a replacement card. Also, many banks offer fraud protection for debit card transactions. Please check with your financial institution for their terms and conditions regarding fraud and liability protection.*
* Certain banks may still charge overdraft fees for debit card transactions. Please check with your financial institution for their terms and conditions regarding fees.