45cash.click does its best to ensure that you, our consumer, are protected against unfair lending practices. In order to achieve this goal, we do the following:
- Provide you with relevant data about loan industry, your responsibility as a borrower, the consequences of loan non-payments or missed payments so that you’re able to make a well-informed decision;
- We provide this information in a clear, understandable way;
- We treat every customer with respect;
- We work hard to give you a high-quality service;
- We demand from the lending partners we work with to abide by Fair Lending practices.
The policy 45cash.click is very simple: we cooperate only with those lenders who abide by law and are legally authorized to lend funds to consumers. We spare no effort to ensure that we work with the best in the industry.
As soon as you get a connection with your lender, make sure to check details on that lender. We recommend to do that so that you’re able to get in touch with the lender if you have questions.
Please note that every lender has his/her own terms and conditions when it comes to interest rates, repayments, late payments, missed payments and/or loan renewals.
Impact on Credit Score
Your credit score serves to express your credit worthiness in a numerical value. It’s based on the credit report data from major credit bureaus.
The following things may affect your credit score:
- late payments;
- missed payments;
- loan rollover;
- a credit check or numerous checks carried out by lenders who are defining your eligibility for a loan product.
Please note that while less than perfect credit will not necessarily prevent you from being able to get a loan, all loans are subject to credit approval.
We encourage all borrowers to treat their loans responsibly and make sure to repay them on time. If you make a late payment, you must understand that you’ll have to pay an additional fee for being late. Each lender has his/her own policy regarding late payments. If you feel that you may be late with your payment, get in touch with your lender to warn about your situation and work a way out of it together.
Always read your loan agreement carefully as it contains all the relevant information about lender’s policy towards late payments.
Please remember that a personal loan is a short-time solution and should not be used to overcome major financial struggles.
Missing a Payment
We encourage consumers to pay all their loans on time. If you miss a payment, your credit score may be hurt and your lender may start the procedure of collecting a debt from you. Each lender has his/her own policy regarding missed payments. Please read your loan agreement carefully as it contains all the relevant information about lender’s policy towards missed payments. If you feel that you aren’t able to repay the loan, contact your lender to warn about your situation and work a way out of it together.
Some lenders may roll your debt over if you are unable to repay the loan on time. However, rollovers come with a price: a missed payment still affects your credit score, and the rollover payments has the same interest rate as the missed payment.
Types of Renewal Policies
We cooperate with a number of lenders and lending partners, and each of them has his/her own renewal policy. However, in general there are two types of renewals:
- Unlimited renewals. They allow you to renew your debt on numerous occasions. Unlimited renewals are a very expensive and risky decision.
- Automatic and borrower-initiated renewals. This type allows you to renew your debt but on a limited basis.
If you miss a payment and avoid communication with your lender, your has the right to start collecting a debt from you. As a rule, you’ll be informed about the beginning of the collection procedure by phone, mail or email. If you ignore the warnings, your lender may turn to a collection agency for help. You may be able to have funds withdrawn automatically from your bank account on the date agreed upon with your lender or lending partner. The collection practices of a particular lender are stated in the loan agreement. Therefore, make sure to read it carefully. If you have any questions regarding the collection practices, contact your lender.