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Lending Goals

At moneyguideborrow.com, our focus is on protecting you from unfair lending practices. To ensure this, we have implemented the following safeguards:

Comprehensive Information: We provide detailed guidance on the loan industry, your responsibilities as a borrower, and the impact of missed or late payments, helping you make informed decisions.

Clear Communication: We present all information in a clear and straightforward way to ensure it is easy to understand.

Respectful Service: We treat every customer with respect, offering full transparency throughout the process.

Quality Support: We are committed to providing high-quality service and assistance to every customer.

Fair Lending Practices: We work only with lending partners who uphold fair lending standards.


Lending Partners

moneyguideborrow.com partners with legally authorized lenders who comply with all applicable regulations. We collaborate exclusively with reputable lenders to ensure that you receive reliable and high-quality service.

Once connected with a lender, carefully review their specific terms and conditions, including interest rates, repayment schedules, and policies regarding late or missed payments. For any questions, contact your lender directly.


Impact on Credit Score

Your credit score represents your creditworthiness and is affected by factors such as:

  • Late payments
  • Missed payments
  • Loan rollovers
  • Multiple credit inquiries

A lower credit score does not automatically disqualify you from obtaining a loan, but all loans are subject to credit approval.


Late Payments

It is important to manage your loans responsibly and make timely payments. Late payments may result in additional fees. Each lender has its own late payment policy, so review your loan agreement carefully. If you anticipate a delay, contact your lender promptly to explore possible solutions.

Remember, personal loans are intended for short-term financial needs and are not suitable for resolving significant financial challenges.


Missing Payments

To avoid negative impacts on your credit score and potential collection actions, prioritize repaying your loan on time. Missing payments can result in fees and damage your credit score. Each lender’s policy on missed payments may differ, so carefully read your agreement. If you cannot make a payment, contact your lender as soon as possible to discuss your situation.


Rollovers

Some lenders may offer the option to roll over your loan if you cannot make the scheduled payment. However, rollovers often incur additional fees and do not reduce the principal amount owed. Interest will continue to accrue at the original rate.


Renewal Policies

Lenders in our network have varying renewal policies, which generally fall into the following categories:

  • Unlimited Renewals: Allow multiple renewals, but these can be costly and carry risks.
  • Automatic and Borrower-Initiated Renewals: Typically allow limited renewals, often with clearer terms.

Collection Practices

If you miss a payment and do not communicate with your lender, they may begin collection actions. Typically, you will be notified by phone, mail, or email before further steps are taken. If you fail to respond, a collection agency may get involved.

Your loan agreement will detail the lender's collection policies. We advise thoroughly reviewing your agreement and reaching out to your lender if you have any questions about their collection practices.