RESPONSIBLE LENDING

ReliablePersonalLoans.com strives to shield borrowers from unreasonable and unlawful practices in the loan industry. We follow implicit rules in order to support you in making educated decisions when looking for loan products. Our rules are as follows:

• We strive to support clients in making educated borrowing decisions, the responsibilities associated with borrowing from online lenders, and the negative impacts of neglecting the repayment schedule associated with loan products.
• We use the information provided by clients to identify a capacity to qualify for loan products.
• All of our clients are treated with kindness and consideration, and information is provided in a straightforward manner.
• Our mission is to provide best-in-class service and unrivaled customer fulfillment.
• All third party lenders in our network follow the law and offer high quality service to our clients.

RESPONSIBLE LENDERS

ReliablePersonalLoans.com work with trusted and reliable lenders who are authorized in their particular state(s) to loan funds to borrowers. Ensure you conduct your own research of any lender you do business with so you are aware of how to contact them with questions. All lenders have unique terms and conditions such as rates and fees, repayment schedule, and costs associated with late/missed payments. You should be informed when it comes to the terms and conditions of your loan product.

CREDIT SCORE

All loan requests are subject to third party lender credit score approval. Your credit score is a number used by lenders and creditors to determine your risk potential. The credit bureaus have developed a credit file on your behalf as a means of forecasting your credit worthiness. Neglecting to repay loans and/or credit card bills on time will negatively impact your score, and reveal difficulty when trying to be approved for credit in all forms. Additionally, numerous credit checks in a given time frame may negatively impact your credit rating. However, timely loan and credit card payments may improve your credit score.

LATE PAYMENTS/MISSING A PAYMENT

The most vital element borrowers should realize is the negative impact of late/missed loan payments. All lenders have unique terms and conditions, but there are some borrowing guidelines that hold true regardless of the lender you work with. Late/Missed payments usually result in penalty fees, and original loan finance charges must be paid on the initial due date. At that point, a deferral with a separate finance charge may take place on the principal loan amount. Borrowers should always pay the scheduled payment as agreed to, if not a higher amount in order to decrease the amount of interest paid over the life of the loan. In the event you decide to pay any amount other than the payment originally agreed to or your payment does not go through, contact your lender as soon as possible to make other arrangements. It’s important to keep open communication with your lender to avoid falling into a Collections Program. Securing additional funds in the future will be difficult when in Collections with an active loan balance. Be informed of the borrowing policies with the lender whom you do business. Personal loans specifically are not meant for long-term financial support.

PAYMENT ROLLOVER

Rolling over payments is possible with certain lenders. Regardless of the reason for choosing to rollover a payment, they are treated the same as late/missed payments. Payment rollovers will result in the same interest charges as late/missed payments. Please note that your credit score can be negatively impacted.

RENEWAL POLICIES

Although ReliablePersonalLoans.com works with various lenders who all have specific renewal policies, there are a couple standard renewal policies offered by lenders. First, borrowers who pose the most risk are subject to loan products with unlimited renewals. Alternatively, the other form of renewals are called automatic and borrower-initiated renewals,. These renewals have specified time limits. All lenders have renewal policies specific to their company, however, you must be aware that the collection process will take place once a borrower exhausts the renewal option.

COLLECTIONS PROGRAMS

Keep in mind that exhibiting negligence in managing payments can result in being placed in a Collections Program. All lenders have unique Collections policies, so contact your lender to learn more. Typically, Collections Program communications are executed by email, physical mail and phone. In some cases, failure to response to these communications result in transferring your account into the hands of a third party collections agency. It’s important to understand the Collections policy of your lender.