At CityCashOnly.com, protecting you from unfair lending practices is our top priority. To achieve this, we undertake the following measures:
- Providing comprehensive information about the current state of the loan industry, responsible lending practices, and the consequences of missed payments in a clear and understandable manner.
- Ensuring clear communication so you can easily understand the essential details.
- Treating every customer with respect and fostering transparent relationships.
- Striving to deliver high-quality service and support.
- Holding our partners accountable to adhere to Fair Lending practices.
We work exclusively with lenders who are legally authorized to provide consumer loans and comply with the law. Our rigorous selection process ensures that we partner only with reliable lenders, guaranteeing that you receive high-quality services without unnecessary risks. Once connected with a financial provider, we recommend reviewing their details thoroughly and addressing any questions you may have. Keep in mind that each lender operates under its own terms and conditions, including interest rates, repayment schedules, late payments, missed payments, and loan renewals. For specific details, contact your financial provider directly.
Your credit score, a three-digit number, reflects your creditworthiness and predicts your ability to manage debt in the future. A higher score increases your chances of securing a loan with favorable terms. Factors that could negatively impact your credit score include:
- Late payments
- Missed payments
- Hard credit checks
- Loan renewals
Even with less-than-perfect credit, loan approval is still possible. However, all loans are subject to credit approval.
We advocate for a responsible approach to borrowing, recommending that you only take out a loan when it is within your means. Understanding the implications of late payments is crucial. Late payments typically incur a fee; however, the exact amount will be determined by the financial provider during the loan finalization process. Before signing any loan agreement, review all documentation carefully to understand any potential fees associated with late payments. If you anticipate difficulty meeting repayment deadlines, contact your lender immediately to discuss your situation. Remember, a personal loan should be a short-term solution and not used to address significant financial issues.
We encourage timely repayment to avoid potential consequences such as extra fees and collection procedures, which can negatively impact your credit score. Each lender has its own policy regarding missed payments. Review your loan agreement carefully, as it outlines the lender's approach to missed payments. If repayment on the due date is not feasible, proactively contact your provider to address the situation.
Some financial providers may offer the option to roll over your debt if you cannot meet the repayment deadline. However, rollovers come with a cost: a fee is charged for extending the repayment period, and the rollover payments will carry the same interest rate as the missed payment.
Among our network of lenders, each has its own renewal policy. Generally, there are two types of renewals:
- Unlimited Renewals: These allow for multiple debt renewals, though they are typically expensive and risky.
- Automatic and Borrower-Initiated Renewals: These options allow for debt renewal but are subject to certain limits, either automatically or upon the borrower's request.
If payments become severely delinquent and you are unresponsive, your lender may initiate collection activities. Typically, you will be notified of the intent to collect via phone, mail, or email. Ignoring these communications may lead to the involvement of a collection agency. The collection practices of a particular lender are outlined in the loan agreement. Review it thoroughly and contact your lender for any further clarification.