This page contains some helpful information about this website, personal loans and how they are regulated by the US legislation. All the facts provided here are given for guidance only. We’d also like to point out that some of them are subject to a change. For this reason it’s better to check legal details once in a while by using governmental and other relevant sources that cover the status of short-term loans.
Please, read the information below BEFORE you submit a loan request.
What is a personal loan?
A personal loan is an unsecured loan you give back in predetermined payments. They are designed to deal with emergencies and unexpected purchases. They shouldn’t be viewed or used as a panacea to all problems. If handled poorly, a personal loan may morph into a rather expensive financial solution.
Are personal loans legal?
Personal loans are legal, indeed. However, every state has its own standards and regulation regarding online lending, that’s why it’s always a good thing to check information with the authorities of your state.
Is goecoexteriors.com a lender?
I’m not satisfied with my loan terms. What do I do?
Talk to your lender. As we stated above, we aren’t involved in the lending process and we hold no information about agreements you make with lenders. We have no access to terms and fees that lenders offer. Our page for Rates and Fees may shed more light on this issue.
Are personal loans safe to take?
They are safe to take when you know what responsible lending and borrowing is. To learn more about this matter, please, visit our page for Responsible Lending.
Can a foreigner apply for a personal loan through your platform?
Only residents of the United States may access our platform.
I’m seventeen. Can I use your website to submit a request?
We do not render our services to minors.
What makes a deal legal?
A loan agreement. This is the very document that makes things real and controlled by law. If one of the parties violates the provisions of the agreement, there will be legal consequences.
When a deal is finalized?
As soon as you e-sign a loan agreement, you can’t back away. In this case your e-signature confirms that you’ve agreed to all the terms, that’s why recommend that you think twice before e-signing something.
goecoexteriors.com streamlines the loan process from start to finish, though we do not lend you money ourselves. This also means we do not make any decisions on your request, we cannot influence the lender’s decision, and we are not privy to information regarding your fees, rates, APR, nonpayment rules, and renewal policy.
This website is an online service that works to put in touch borrowers like you with reliable lenders that are ready to satisfy your current financial needs.
All details, such as fees, rates, APR, nonpayment rules, and renewal policy are specified in your loan agreement and depend on local regulations by state. On our part we provide plenty of information that can help you better understand what a loan is, how it works, and how to use it wisely.
The service works for you for free. We do not bring you to accept the first available offer, allowing you to decline unsuitable options for as long as you are completely satisfied with all terms and conditions. Our activity has a simple goal: meeting our clients’ financial interests. That’s just how it has to be.
Once your request is approved, the lender will make you an offer, including the fees and APR, as well as the terms of repayment and loan renewal options, if any. We encourage you to read the agreement carefully and weigh all pros and cons and be fully equipped with the necessary information to not fall in an unpleasant financial situation.
Pay particular attention to non-payments that may result in additional fees, negative impact on your credit score, and even collection activities. In case you have no funds to repay the debt on a due date, immediately contact your lender and discuss ways how to handle the situation.
Some lenders can offer to resort to a loan renewal. Remember that each lender has its own renewal policy, so we recommend that you peruse it before accepting the offer.
If you need more information on your loan agreement, please address all your questions directly to your lender. As far as we are concerned, we are ready to answer only those questions that are relevant to our service.
Disclosures described above are for information purposes only. Do not regard them as legal advice.
Marketing practices are a vital part of business allowing it to grow, promote its services, and to stay in touch with the audience. They are carried out in several forms, such as the mailout of advertisements, newsletters, important notifications, news and other promotional materials. To deliver all these communications, we may use the following tools:
- Email messages;
- Letters sent by post;
- Phone and cell phone calls;
- SMS texts
- Messages in any other media you specified while signing up.
Please note that we have the right to share some of your information with our third-party partners. As a result, our partners may also send you their promotional materials using all the contacts you’ve provided us with.
As soon as you start using goecoexteriors.com, you acknowledge that you are aware of our marketing practices and that you agree to receive messages from us and our third-party partners.
If you feel overwhelmed with correspondence, you can always use the option to unsubscribe from us.
However, we need to state that we are not liable for the messages our partners may send you and that you need to reach out to them if you have any questions regarding their marketing practices. You will also have to contact them if you want to unsubscribe from them.
Upholding fair and responsible lending practices has been our mission since we started goecoexteriors.com. To keep our standards high and protect our customers, we provide all the users with relevant information about the industry and do the following:
- We supply you with significant details about the current state of the loan industry, responsible lending and the consequences of non-payments or late payments;
- We put them in a clear way;
- We treat every customer with respect and are proud to establish a transparent relationship with our users;
- We do our best to provide a high-quality service and support;
- We demand from our partners to abide by Fair Lending practices.
We work only with those lenders who abide by the law and are legally authorized to lend money to consumers. We take every effort to build a network of only reliable partners to ensure that you, our customer, get the services of high quality and risk nothing.
Once you are connected with a financial provider, please check details on that lender so you can ask them questions if any occur.
It’s important to remember that every lender has their own terms and conditions. Interest rates, repayments, late payments, missed payments, and loan renewals vary by lender. To know what to expect, contact your financial provider.
IMPACT ON CREDIT SCORE
Information on your financial background is translated into a three-digit score that serves to express your creditworthiness and predict how likely you are to handle the debt in the future. The higher your score, the more chances you have to be approved for a loan with better terms. Things that may negatively affect your credit score are listed below:
- late payments;
- missed payments;
- hard credit check;
- loan renewal;
However, if your credit is less than perfect you still can get a loan.
We strongly recommend that you have a responsible attitude to borrowing and take a loan only when you can afford it. It is important to understand the consequences of making late payments. If you make a late payment, you’ll have to pay a fee. We do not possess information on the amount of penalty. It only becomes available when a financial provider reaches you to finalize the loan process.
Always review all the documentation before signing the loan agreement to understand any potential fees that may result from late payment.
If you feel that you can’t repay on time, get in touch with your lender as soon as possible and warn them about your situation.
Please remember that a personal loan is a short-time solution and should not be seen as a tool to cope with major financial struggles.
MISSING A PAYMENT
We encourage borrowers to pay off their debt on time. Missing a payment may result in additional fees and collection activities which may negatively affect your credit score. Each lender has their own policy regarding missed payments. We recommend that you thoroughly peruse your loan agreement as it contains all the significant information about the lender’s policy towards missed payments.
If you aren’t able to repay the loan on the due date, please contact your provider in advance to settle the issue.
Some financial providers offer the opportunity to roll your debt over if you are unable to repay on the due date. Note that renewing a loan is not free: you have to pay a fee to delay the repayment. The fee does not reduce the amount you owe and the rollover payments have the same interest rate as the missed payment.
TYPES OF RENEWAL POLICIES
We work with a considerable number of lenders, and each of them has their own renewal policy. Typically, they offer two types of renewals:
- Unlimited renewals. They allow you to renew your debt on numerous occasions and are very expensive decisions.
- Automatic and borrower-initiated renewals. They allow you to renew your debt but on a limited basis.
In extreme cases when you have a delinquent payment and are reluctant to contact your lender to discuss the issue, they can resort to collection activities. Typically, they inform you about the intention to begin the collection procedure by phone, mail or email. If you still avoid communication, your lender may turn to a collection agency.
The collection practices of a particular lender are stated in the loan agreement. We encourage borrowers to read it carefully to be aware of the lender’s policy regarding the collection practices. For more information, please get in touch with your lender.