Disclaimer and APR Representative
Disclaimer
Short-term loans are a credit option offered as an emergency resolution for short-term financial issues. These loans are relatively small in amount but can become expensive if used over long terms.
GreenStarCash, and its owner and operator, are not lenders. They are not involved in any decisions regarding credit, loans, or other financial offers. GreenStarCash is a website intended to matchmake individuals with loan providers and other third parties.
GreenStarCash does not charge any fees for this service. The use of this matching service does not obligate any individual to maintain contact or sign agreements with any lenders or third-party service providers. All information regarding short-term loans, the loan industry, lender laws, etc., is offered for educational purposes only.
GreenStarCash does not endorse any specific lenders; additionally, it is not a representative for the lenders regarding any action or inaction herewith. GreenStarCash does not maintain records or have access to any information regarding the fees or terms of loan products provided by third-party lenders.
Short-term loans may not be available in all states or territories. Loans up to $1,000 may not be available by all lenders or in all states and territories, as lending laws vary by location.
GreenStarCash makes no guarantee that users of the website will be approved for any loan product by any lender. GreenStarCash makes no guarantees that users will be matched with a lender, nor that matched lenders will provide offers comparable to the terms requested on the online form.
Lenders may perform a credit check using at least one credit bureau, including but not limited to major credit bureaus. This information may be required to determine the user’s credit reliability and standing to determine the appropriate credit products to offer. Additionally, these lenders may require alternative verification information, such as social security number, driver’s license number, national ID, or other documents and identifying information.
The terms, conditions, and general extent of loan products will vary by lender. These items depend on a multitude of factors, including but not limited to the user’s state of residency, credit standing, and lender terms.
Representative APR
APR stands for Annual Percentage Rate. This is the calculated interest for a loan based on the annual (yearly) term. GreenStarCash is not a lender and therefore has no information regarding the terms, rate, or other contingencies of the short-term loan products provided by individual lenders.
GreenStarCash is unable to provide the specific APR for any loan product offered by lenders. APRs vary with large disparity for each lender and state. The rates are determined on the basis of multiple factors including the credit standing of the applicant.
Further charges may be associated with a loan offer. These include origination fees, late charges, penalties, and more. Lenders may also take non-financial actions such as writing loans over to a debt collection agency. All these charges and actions are determined solely by the lender. GreenStarCash has no information about these actions, nor the power to change or alter these actions.
Details regarding these actions must be disclosed transparently by the lender in the form of a loan agreement. APR is calculated as an annual fee and is not considered a financial charge for a short-term loan product.
Late Payment Implications
GreenStarCash has no standing over a loan or its payments. If late payment is expected, it is recommended that the lendee contact the lender prior to the missed payment. Late payments may result in penalty charges being applied to the account. Regulations set by the federal or state government may vary by lender and lendee. Information regarding these policies and the fees associated with delinquent payment can be found in the loan agreement and should be appraised prior to signing any legally binding documents.
Non-payment Implications
Penalties, financial or otherwise, may be employed when missed payments occur. The fees or non-financial actions resulting from non-payment are disclosed in the loan agreement. Alternative actions after non-payment – e.g. renewals – may be allowed with explicit consent. The terms of loan renewals are disclosed in the loan agreement and may include additional fees and charges.
In the event of non-payment, debt collection actions may be performed. These actions, and all related actions, are dictated by the Fair Debt Collection Practices Act and any other applicable laws at the federal and state level. This protects consumers from unfair lending and helps to negate poor experiences with financial borrowing. Most lenders attempt to collect debts via in-house measures rather than outside collection agencies.
Missing payments and making late payments can have a negative impact on the credit of the borrower. Lenders may report payment delinquencies to credit bureaus, which can lead to a lowered credit score. These bureaus include but are not limited to Equifax, Transunion, and Experian. These reported actions due to non-payment and late payment may remain on the credit reported for a specific amount of time.