A personal loan serves as a medium-term financial solution featuring a fixed interest rate, repaid in equal installments usually over a period of 24 months. The loan offers and qualifications largely hinge on your unique credit profile. Partner lenders may facilitate loans up to $5,000, a figure that can vary based on factors such as the lender's policy, your residence state, and your financial condition.
CashLendy.com, the proprietor and operator of the platform, does not function as a lender and hence is not involved in making credit decisions or loan offers. Rather, the platform operates as a matchmaking service, connecting users with lenders and third-party entities. The service is free, and users are not obligated to interact with any lender or third-party, nor accept any offered loan product or service. All information presented on the site about personal loan products and the industry is purely for informational purposes. CashLendy.com neither endorses any specific lender nor holds responsibility for any lender's actions or inactions. The platform does not collect, store or access information about fees and charges associated with contacting lenders or any loan products. Online personal loans may not be accessible in all states, and not all network lenders can provide loans up to $5,000. The platform can't guarantee approval of any loan product, successful matching with a lender, or receiving a personal loan offer on the terms requested in the online form.
Lenders might conduct a credit check via one or more credit bureaus, including major ones, to ascertain creditworthiness and determine the range of credit products to offer. Further verifications may also be required, such as social security number, driver's license number, national ID, or other identification documents. The terms and scope of loan products can differ based on several factors including the applicant's state of residence, credit score, and terms set by each lender.
APR (Annual Percentage Rate) represents the annual loan rate. As CashLendy.com does not offer loans and lacks specifics about individual lenders' loan products, it cannot provide the precise APR for any loan product. APRs vary significantly between lenders and states, influenced by numerous factors, including an applicant's credit standing. Lenders may impose additional charges like origination fees, late payment, non-payment charges, and penalties, as well as non-financial measures like late payment reporting and debt collection actions. Such financial and non-financial charges and actions are explicitly disclosed in the loan agreement.
If late payment is anticipated or possible, it is strongly advised to contact the lender. Late payment fees and charges may be imposed, subject to federal and state regulations. All procedures and costs related to late payments are detailed in the loan agreement and should be thoroughly reviewed before signing any related document.
Non-payment or missed payment may result in financial and non-financial penalties. The loan agreement discloses fees and other financial charges for late payment. Additional actions related to non-payment, such as renewals, may be implied upon given consent. Each loan agreement individually discloses the terms of renewal. Additional charges and fees associated with renewal may be applied.
Debt collection practices and other related procedures may be performed, in compliance with the Fair Debt Collection Practices Act regulations and other relevant federal and state laws to safeguard consumers from unfair lending and adverse borrowing experiences. Most lenders prefer in-house means over external collection agencies for debt collection.
Non-payment and late payment can adversely affect borrowers’ credit standing and lower their credit scores. Lenders may report delinquency to credit bureaus, such as Equifax, Transunion, and Experian, causing the results of non-payment and late payment to be documented and remain in credit reports for a specific duration.