DrCredit.com is not a lender and therefore cannot tell you the interest rate and fees that pertain to your particular loan. After getting approved by one of our affiliated lenders, you will be shown the rates and fees that will be associated with your loan, should you accept the approval. After being shown these terms, you will then have the option to accept them. You are under no obligation of these terms, until they have been formally accepted.Consequences of Non-payment
Once you have formally accepted the terms and conditions of your loan approval, you have essentially agreed to repay the loan at the interest rate and the specific time frame discussed between you and your lender. If at any time you are unable to pay the loan according to these terms, you will possibly incur additional fees. DrCredit.com does ensure that all lenders that we do business with are reputable and trustworthy lenders that conduct collection actions in a fair, legal, and moral manner. It is up to you to study the policies of your particular lender and choose whether you agree with them before you formally agree to accept the loan.Possible Effect to Credit Score
Your credit score is a number calculated using information from your credit history. The credit history information comes from credit reporting agencies. Credit scores represent your credit worthiness and indicate the likelihood that you will repay a debt as agreed. Making late payments, missing payments, rolling over a payment, and having too many credit inquiries witin a small period of time are all examples of actions that will negatively affect your credit score. Making payments on time, repaying a loan, and not using over half of the credit limit available on credit cards are examples of actions that will positively affect your credit score.Collection Practices
If a payment is missed and the lender has not been contacted, then collection is the next step that the lender will likely take. This involves being contacted by the lender via phone, email, or mail. If their attempts to contact you fail, the account is usually handed over to a collection agency. This can have severe negative consequences. It is very important that you understand all of your lender's guidelines regarding repaying your loan to avoid any collection activity. As mentioned previously, DrCredit.com is not a lending institution, therefore, we hae no involvement in the collection process.Loan Rewnewal Policies
DrCredit.com works with numerous lenders, all of which have their own renewal policy and guidelines. There are two general types of
-Unlimited Renewals are known for having the highest risk for borrowers and are allowed to constantly be renewed.
-Automatic and Borrower Intiated Renewals which have specific time limits and are required to be repaid when the specified time limit has been reached.
Before accepting a personal loan offer, make sure that you have a clear understanding of each renewal option given by your lender. Read through their renewal policy and make sure that you understand it thoroughly.
DrCredit.com is not a lender. The offers that appear on DrCredit.com’s website are from companies from which DrCredit.com receives compensation. This compensation may influence the selection, appearance, and order of appearance of the offers listed on the website. However, this compensation also facilitates the provision by DrCredit.com of certain services to you at no charge. The website does not include all financial services companies or all of their available product and service offerings.
DrCredit.com cannot guarantee you will be approved, but they will match your profile with their database of lenders to give you the best offers for your situation. Not all lenders can provide the advertised loan amount. As a condition of extending credit, some, but not all lenders may run a credit check. This website does not constitute an offer or solicitation to lend. This site will submit the information you provide to a lender in our partners loan network. Providing your information on this website does not guarantee that you will be approved for a personal loan.
Each lender is required to provide you, the consumer, with all costs associated to be expressed as an annual percentage rate of interest (APR). This information will include the identity of the creditor, the amount financed, the itemization of amount financed, the finance charge, the annual percentage rate, your payment schedule, and your total number of payments. Your APR will vary depending upon which product you select from which lender.
Our lending network consists of many direct lenders with APRs ranging from 6.46% - 34%.
Minimum repayment term is one year.
Maximum repayment term is six years.
In addition, the Federal Equal Credit Opportunity Act prohibits creditors from discriminating against applicants on the basis of color, race, religion, sex, marital status, and age.
The operator of this website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. Cash transfer times may vary between lenders and may depend on your individual financial institution. In some circumstances faxing may be required.
States Serviced: With each state having its own rules and regulations governing personal loan lenders. APR, loan amount and repayment term will vary based on your credit worthiness, state and lender.
*Representative Example: Borrow $5,000 for 12 months, repay with monthly payments of $433.79, with an annual percentage rate (APR) of 7.50%, for a total repayment cost of $5,205.45.Unsubscribe