Responsible Lending
1. prosolutionpoint.com's Commitment
We at prosolutionpoint.com do our best to protect you against unethical lending practices. In order to do that, we work with lenders who follow responsible lending practices.
Specifically, we work together to disseminate information about the current needs of borrowers, the best practices for lending, and the current state of the lending industry to ensure responsible lending practices.
We work these standards in a clear way for our clients, understanding and practicing:
- We work with a controlled, well-regulated, adhering to U.S. legislation network.
- We work with lenders that provide quality services and products.
- We provide information, partnering in advising the best customer service.
2. Lending Partners
We work only with the lenders who are devoted to loan work in a straight-forward and ethical manner. We work with lenders who are committed to transparency and who are dedicated to making sure you understand, get high-quality services and are fulfilling.
Before you are connected with a financial services partner, check to ensure on our site you can view the terms and conditions of the service.
It's important to understand that lenders have their own criteria and loan conditions. Lenders have, regardless of state provisions, specific policies, and fees that can make only a few lenders. To know the specific terms of a lender, you should contact them directly.
3. Impact on Credit Score
Information you give to prosolutionpoint.com is considered as a knowledge score from the lenders. Lenders may use this information to determine whether you are eligible for a loan or not. Although this may negatively affect your credit score and credit history.
- Soft inquiries
- Missed payments
- Late credit check
- Loan renewal
However, if you need a loan from us and you provide us with appropriate information, we can suggest the credit agencies.
4. Late Payments
We strongly recommend that you make a responsible decision to take a loan or not. If you are unable to make a payment, you should contact your lender immediately.
If you make a late payment, you'll have to pay a fee. We do not guarantee information on the amount of penalties. It may be different depending on the lender. You should contact your lender to find out the amount of the late payment.
Always remember that you should not take a loan if you are not sure that you can repay it. Loans are not a solution to long-term financial problems. They are a short-term solution to a short-term problem.
If you have financial problems, you should contact a financial advisor. We do not provide financial advice. We are a loan matching service. We do not make loans. We do not make credit decisions.
Please remember that if you cannot make a payment, there are consequences. We do not control the actions of the lenders. We do not control the fees that they charge. We do not control the actions of the collection agencies.
5. Missing a Payment
Missing a payment may result in additional fees and collection activities which may negatively affect your credit score. Late payments may also result in additional fees and charges.
If you are unable to make a payment, you should contact your lender immediately. While lenders do not usually report late payments to credit bureaus, they may do so if the payment is significantly late.
6. Refinance (Loan Renewals)
Loan renewals are not always available. It is not guaranteed, and it may cost you additional fees. Loan renewals or refinancing a loan may have additional fees. You should contact your lender to verify the charges. The state law and lender will dictate the renewal process.
Types of Renewal Policies: We do not work with a controlled number of lenders. Therefore, we cannot tell you what types of renewal policies they may have. If you have any questions about renewal policies, you should contact your lender directly.
7. Collection
A collection action when you have a delinquent payment or account can be used throughout your lender. We do not control the actions of the lenders. They will contact you regarding late payments.
Typically, there is time you should be contacted to change your collection practices before you are sent to a collection agency. If you do not pay, you may be sent to a collection agency.
The collection agency will attempt to collect the debt. If you are sent to a collection agency, it will negatively affect your credit score. If you have any questions about the collection policy, you should contact your lender directly. For more information, please get in touch with your lender.