Terms And Impact On Credit Score

About Quick Payday Payment Terms

Quick pay day Loan Company offers you the best services through our skilled and competent personnel who will ensure that you get every detail of information that you may need at any time. We are always there for you, whenever you need us.

Our Company requires you to fill in the application form, where you will need to have your debit card details handy. We will only use your card to repay the loan and we need this information as part of your application. If approved we can transfer the cash to your bank account within 15 minutes.

It is important that you assess your ability to repay the loan on the agreed date. If you feel this is not going to be possible, we advise you on what course of action to take. As responsible lenders, we feel it is important you go into the process with your eyes wide open.

quick payday loans

Late Payment
When a client feels that he or she will be late in making payments then you will need to contact us as soon as possible. A rearrangement will be made on the date of payment but still late payment fee will be charged depending on the amount borrowed.
Collection Activity
We may attempt to collect any delinquent amount through our standard collection practices, which include contacting you by phone, mail or email.  We may also exercise any of our rights under our loan or credit services agreements with you.  If we are unable to collect any delinquent amount you may have with us through such actions, we may also sell our debt to a third party debt buyer or engage a collection agency, who may also engage in collection activity with you.
Financial Implications
Currently, no past due interest is assessed on any loans you may obtain from us or that we may arrange for you. However, you may be assessed a late fee if you fail to make your payment by a specified period following its due date and you may be assessed with a returned item charge if any check or electronic payment we submit on your behalf is returned unpaid.
Impact on Your Credit Score
We do not currently report loan activity to any of the major credit bureaus. However, we do use alternative credit reporting agencies.  Failure to make timely payment on your loan may reduce your score with such agencies, and prevent you from receiving credit or other services from a provider that uses such agencies. Short-term lenders may also rely on their own scoring process, which is generally based on income and ability to repay, as well as the borrower’s payment history of any previous payday loans that have been made with the lender in question, or with other payday lenders.

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