Every lender in our network is required to adhere to the Fair Debt Collection Practices Act, which protects consumers from being abused or harassed by debt collectors.
Lenders are within their rights to report your failure to repay a loan to one or all of the major credit reporting agencies - Experian, Equifax and Transunion. This negative record can be reflected on your credit history indefinitely until the loan is repaid in full. After the lenders receive payment in full, they can report it to the credit reporting agencies.
We remind that late payment or non-payment of your loan can have negative impact on your credit history. Some of the lenders in our network may automatically renew your short term loan if it becomes past due.
This term is clearly identified in your loan agreement. You should check your loan agreement for your lender's policy on automatic loan renewal prior to e-signing religare finvest personal loan.
Religare finvest personal loan lenders participating in the online network are independent financial institutions which have the right to conduct credit check with credit reporting bureaus andor access consumer reports, usually via alternative providers in order to define credit capacity, standing and worthiness.
Submitting the information, the customer permits the participating lenders to verify their data and check their credit. Late payments on loans may cause extra fees as well as collection activities, or even both. Non-payment of a loan can result in collection activities.
Every direct lender has specific terms and conditions as well as renewal policy. It's important to check the performed policies for further details as they may differ from lender to lender.
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