Responsible Lending

EstrellaCash.com works hard to protect consumers like you from unfair and illegal practices in the personal loan industry. In an effort to help us in this goal of protecting and helping you take An informed decision regarding personal loans, we offer the following code of conduct.

Lenders and Lending Partners

Here at EstrellaCash.com, we make every effort to ensure that we work only with responsible lenders or lender partners who are authorized to lend cash to consumers in the form of personal / installment loans. Once you are connected to your lender or lender partner, we recommend that you look for the specific details of that company so that you know how to contact them in case you have any questions or concerns. Each lender or lender partner also has its own terms and conditions with respect to interest rates, requirements on repayment and the repercussions of late payment, the omission of a payment or the transfer of a payment. You should make sure you know these specific terms and conditions.

Your Credit Score

One of the first and most important things to understand as a borrower is that delaying a payment, losing a payment or transferring a payment can negatively affect your credit score. Your credit score is a numerical expression of your creditworthiness based on an analysis of your credit files. A credit score is based primarily on the credit report information typically obtained from credit agencies. Not paying on time can negatively affect this score and make it difficult for you to do things like take out a credit card or get a loan. While a less than perfect credit will not necessarily prevent you from receiving a loan, all loans are subject to credit approval. As such, the lender or lender partner with whom you are connected can perform a credit check with one or more credit bureaus. If you have had many credit checks in a given period of time, this verification may adversely affect your credit score. But, if you can make all your payments on time, the process of applying for and paying a loan can improve your credit score.

Late Payments

The most important thing you should understand as a borrower are the repercussions of late payments on your loan. Although each lender or lender partner we work with has its own terms and conditions for the loan and loan repayment, there are some general implications that it is important to understand. There will probably be charges for making a late payment. Similarly, if you are extending a loan, the financial charge of the original loan must be paid on the original due date. Then, the initial amount will be deferred with an additional financial charge. We recommend paying as soon as possible from your original due date to further reduce the charges incurred. If you plan to deviate from your payment plan, you should contact your lender or lender partner immediately to establish a new payment agreement. If the bank refuses to pay your loan for any reason, the lender or the lending partner can initiate the collection procedures and you will be prevented from receiving future loans from the lender or lender partner until all your payment obligations are met. The most important thing to remember is to read about payment options and fines for the specific lender or lender partner you are connected to and make sure you fully understand these policies. Finally, remember that personal loans should be used only for short-term financial needs. They are not a long-term financial solution. In general, you should always make sure you pay all your outstanding loans / bills / debts on time.

Missing a Payment

EstrellaCash.com strongly recommends that you pay all your outstanding debts / loans / bills when they expire. This will ensure that you will have a good payment record and minimize the negative repercussions. Each lender or lender partner that EstrellaCash.com works with has its own terms and conditions that govern the specific implications of losing a payment. However, if the lender or the lending partner does not receive a payment, the likely result is that the lender or the lending partner will begin the collection procedures against you and you will no longer be able to receive more loans from the lender or lender partner. Therefore, it is important that you understand the specific requirements for reimbursement and the implications of not making a payment. And, again, we strongly recommend that you pay all outstanding debts / loans / bills on time.

Rolling Over a Payment

With some lenders or lending partners, it is possible to transfer payments if you cannot make a payment date. However, keep in mind that, like losing a payment or delaying a payment, this will have a negative effect on your credit score. In addition, it is important to know that the interest you pay will be the same with the payment transferred as with the lost payment.

Types of Renewal Policies

EstrellaCash.com works with different lenders and lending partners, each of which has its own renewal policy. However, as a general rule, there are two different types of renovations:

  1. Unlimited renewals These allow you to continually renew and are the most risky for borrowers.
  2. Automatic renewals initiated by the borrower. These forms of renewal are not unlimited and are subject to time limits.

It is important to understand that once a borrower can no longer renew a loan, the lender or the lending partner will have to begin a collection process to recover the amount owed. Each lender or lender partner will have their own specific policy, so it is important that you read and understand that policy.

Collection

f you lose a loan payment and do not contact the lender or the lending partner to discuss other payment options, your loan is likely to be subject to charges. Normally you will be contacted by phone, email and regular mail. If you continue unanswered, you will most likely use an external collection agency to collect the debt. These details will vary depending on the specific lender or the lending partner, so it is important that you make sure you read and understand the specific terms and conditions of your loan. You may be able to automatically withdraw funds from your bank account on the date agreed with your lender or credit partner. Be sure to read and fully understand all the policies of your lender or lender partner regarding payment and understand what you will have to do as a borrower to pay the loan. Your loan cannot be conditioned to reimbursement by electronic funds transfer or automatic withdrawal. Consult your lender or lender partner for more details.

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