The amount borrowed, the length of time over which payments must be made, the borrower’s credit history, and the borrower’s state of residence are some of the variables that may affect the borrower’s repayment terms, each of which is determined by the individual lender. Usually, payments are made once or twice per month. Feel free to contact your lender if you have any questions about the repayment process.

If you fail to repay your loan on time, the lender may take any of the following actions: – Charge your late fees; – Send your account to a collection agency; – Report you to a consumer reporting agency, which could lower your credit score; – Offer to extend your loan for a fee, charge, and interest; – Use any other collection methods allowed by law.