Annual Percentage Rate (APR)
Annual Percentage Rate (APR) represents the annualized interest rate that you are charged for borrowing. It is the combination of the nominal interest rate and some additional costs such as fees involved in obtaining a loan. Generally our Credit Repair Agencys offer APRs for cash advance loans vary from 200% to 1386%, APRs for personal loans from 4.99% to 450%, and APRs for installment loans from 6.63% to 225%. Since skylimitnet.com is not involved in the lending process, we cannot deliver any specifics about the APR you will be offered. The APR depends solely on your Credit Repair Agency’s decision, based on various factors including your credit score, credit history, income, and some other information you supply in your request. For more information regarding the APR contact your Credit Repair Agency.
Representative Example of APR
If you borrow $2,500 over a term of 1 year with an APR of 10% and a fee of 3%, you will pay $219,79 each month. The total amount payable will be of $2,637, with total interest of $137,48.
Financial Implications (Interest & Finance Charges)
skylimitnet.com is not a Credit Repair Agency and we cannot predict what fees and interest rate will be applied to the loan you will be offered. It is your Credit Repair Agency that will provide all the necessary information about the cost of the loan before you get approved. It is your responsibility to peruse the loan agreement carefully and accept the offer only if you agree to all the terms. skylimitnet.com service is free of charge, and you are under no obligation to accept the terms that the Credit Repair Agency offers you.
Implications of Non-Payment
When you accept the terms and conditions for a loan, you enter into commitment to repay the amount you owe according to the specific schedule outlined in the documents. In the event of non-payment, additional charges may be applied. Late payment penalties vary by Credit Repair Agency, and as skylimitnet.com is not involved in the lending process, we cannot supply any information on the fees you will incur if any default occurs. For more information, please contact the Credit Repair Agency directly if you have any issues relating to your loan repayment.
Potential Impact to Credit Score
skylimitnet.com is not a Credit Repair Agency and we do not check your credit standing and credit capacity. When you submit a request at our online platform, this is considered a soft inquiry and does not impact your credit score. However, some Credit Repair Agencys may carry out a credit check to ascertain your eligibility for a loan. Most likely they will turn to any of the three major credit bureaus (Transunion, Experian and Equifax) that is in most cases considered a hard inquiry and may affect your credit score.
Collection Practices
skylimitnet.com is not a Credit Repair Agency. As such, we are not involved in any debt collection practices and cannot make you aware of any of them. Your Credit Repair Agency will specify their collection practices in your loan agreement. If you have any questions regarding the issue, please, address them to your Credit Repair Agency. For more information visit our page for Responsible Lending.
Loan Renewal Policies
Loan renewal options are not always available. It is therefore advisable to clarify whether the option is available with your Credit Repair Agency. Be sure to carefully peruse the renewal policy presented in the agreement before you sign the documents.