by crispin0 | Jun 3, 2025 | Terminologies
Debt settlement involves negotiating with creditors to reduce the amount owed on a loan. Some online lending apps offer debt settlement options for borrowers struggling to repay their loans.
by crispin0 | Jun 2, 2025 | Terminologies
Discretionary credit is the amount a lender is willing to offer based on the borrower’s financial situation, including income and creditworthiness. It’s typically used for small personal loans or cash advances.
by crispin0 | Jun 2, 2025 | Terminologies
The debt-to-income ratio is a financial measure that compares an individual’s monthly debt payments to their monthly income. A high DTI ratio may indicate a higher risk for lenders, as it suggests the borrower may struggle to manage additional debt.
by crispin0 | Jun 1, 2025 | Terminologies
An e-signature is a digital signature used to sign loan documents electronically. Many online lending apps use e-signatures for faster loan processing and to reduce paperwork.
by crispin0 | May 30, 2025 | Terminologies
Early repayment occurs when the borrower pays off the loan before the due date. Some lenders offer incentives or discounts for early repayment, while others may charge a prepayment penalty to discourage it.
