Responsible Lending

We at Greenmoneyloan.com do everything we can to keep you safe from unfair lending practices.To reach this goal as effectively as possible we do the following:

We give you important information about the current state of the loan industry, details concerning responsible lending and the consequences of not paying or missing payments;

We talk about these things in a clear way so you can easily understand important details;

We treat all of our customers with respect adhering to honest and transparent relationships;

We put in a lot of effort to give great service and support;

we expect our partners to follow Fair Lending rules.

Lending Partners

We only work with those lenders who follow the law and are legally authorized to lend money to consumers.We take every effort to build a network of only reliable partners to ensure that you, our customer, can be sure to get high-quality services without any risk.

Once you are connected with a financial provider, please look up information about them so you can ask them questions if you have any.

Keep in mind that each lender has their own rules and terms.Different lenders have different rules about interest rates, repayments, late payments, missed payments, and loan renewals.To know what to expect, contact your financial provider.

Impact on Credit Score

A three-digit score based on your financial history shows how likely you are to pay off your debt and how creditworthy you are. The higher your score, the more chances you have to be approved for a loan with better terms. Things that may negatively affect your credit score are listed below:

late payments, missed payments, hard credit check, loan renewal.

You can still get approved, though, even if your credit isn't perfect. All loans are subject to credit approval.

Late Payments

We strongly recommend that you have a responsible attitude to borrowing and take a loan only when you can afford to pay it back.It is important to understand the consequences of making late payments. If you make a late payment, you’ll have to pay a fee. We do not possess information on the amount of penalty. It only becomes available when a financial provider reaches you to finalize the loan process.

Before you sign the loan agreement, make sure you review all the documents so you know what fees you might have to pay if you miss a payment.

If you think you won't be able to pay back your loan on time, Get in touch with your lender right away and let them know what's going on.

Please remember that a personal loan is a short-time solution, so don't think of it as a way to deal with big money problems.

Missing a Payment

We encourage borrowers to pay off their debt on time.If you miss a payment, you may have to pay extra fees and have your account sent to collections,which may negatively affect your credit score.Each lender has their own policy about what happens when payments are missed. We recommend that you read your loan agreement carefully because it has all the significant information about how the lender handles missed payments.

If you can't pay back the loan on time, please call your provider ahead of time to work things out.

Rollovers

If you can't pay your debt on time, some lenders will let you roll it over.Keep in mind that renewing a loan isn't free; you have to pay a fee to delay the repayment.The fee doesn't lower the amount you owe, and the rollover payments have the same interest rate as the missed payment.

Types of Renewal Policies

We work with a lot of lenders, and each one has their own renewal policy. They usually offer two types of renewals:

Unlimited renewals -They allow you to renew your debt on numerous occasions and these choices are very costly.Renewals that happen automatically and those that the borrower starts. They let you renew your debt, but only for a short time.

Collection

In extreme cases where you haven't paid your bill and are reluctant to contact your lender to discuss the issue,they can start collection activities. Usually, they let you know by phone, mail, or email that they plan to start the collection process. If you still don't talk to your lender, they may hire a collection agency.

The collection practices of a particular lender are stated in the loan agreement.We encourage that borrowers read it carefully so they know what the lender's policy and there collection practices.Please get in touch with your lender for more information.