What is Green Trust Cash?
Green Trust Cash is a company that offers short-term installment loans to people in the United States. They specialize in loans for people with bad credit, who may not be able to obtain loans from traditional banks or credit unions.
Their loans range from $300 to $1,000, and customers can apply online or over the phone. They typically require proof of income and a checking account to approve a loan. The repayment terms are spread over several payments, which are automatically deducted from the borrower's bank account.
It's worth noting that short-term installment loans can come with very high interest rates and fees, so it's important to carefully read the terms and conditions before agreeing to a loan. It's also a good idea to consider other options, such as borrowing from family or friends, negotiating with creditors, or seeking assistance from a non-profit credit counseling agency.
APR at Green Trust Cash
The APR (Annual Percentage Rate) for loans from Green Trust Cash can vary depending on factors such as the loan amount, the length of the repayment term, and the borrower's creditworthiness. However, it's important to note that the APR for short-term installment loans like those offered by Green Trust Cash can be very high.
According to the Green Trust Cash website, their APRs range from 471.78% to 841.45%. This means that if you borrow $500 from Green Trust Cash with a repayment term of 6 months, you could end up paying back significantly more than $500 due to the high interest rate and fees.
It's important to carefully consider whether you can afford to repay the loan and whether the interest and fees are worth the cost before taking out a loan from Green Trust Cash or any other lender offering short-term installment loans.
“It's important to note that Green Trust Cash loans can come with very high interest rates and fees. Customers should carefully review the terms and conditions before accepting a loan to ensure they understand the total cost of borrowing. Additionally, short-term loans are intended for short-term financial needs and are not a long-term solution for financial problems.”
How Green Trust Cash work?
Green Trust Cash is a short-term loan provider that offers installment loans to people in the United States. Here's how it works:
Application: Customers can apply for a loan online through the Green Trust Cash website or over the phone. The application process typically involves providing personal information, employment information, and banking information.
Approval: Green Trust Cash will review the customer's application and determine whether to approve the loan. They consider factors such as the customer's creditworthiness, income, and other financial obligations.
Loan Amount and Repayment Terms: If approved, the customer can choose a loan amount and repayment term that works for them. Green Trust Cash loans range from $300 to $1,000, with repayment terms of 6 to 12 months.
Funding: Once the customer accepts the loan terms, the funds will be deposited directly into their bank account. This typically happens within one business day.
Repayment: The customer will repay the loan in installments over the chosen repayment term. Payments are automatically deducted from the customer's bank account on the due date.
How to apply a loan at Green Trust Cash?
To apply for a loan at Green Trust Cash, you can follow these steps:
Go to the Green Trust Cash website at www.greentrustcash.com.
Click on the "Loans Request" button on the home page.
Fill out the online application form with your personal information, including your name, address, email address, phone number, date of birth, and social security number.
Provide your employment and income information, including your employer's name and address, your job title, your pay frequency, and your gross income.
Choose the loan amount you want to borrow, up to $1,000, and the repayment term that works for you. Note that the loan terms and amounts available to you may vary based on your creditworthiness and other factors.
Review the loan terms and conditions carefully to ensure you understand the interest rates and fees associated with the loan.
If you agree to the terms, sign the loan agreement electronically.
Once you are approved for the loan, the funds will be deposited directly into your bank account, typically within one business day.
It's important to note that Green Trust Cash only provides loans to residents of certain states, so you'll need to check their website to see if loans are available in your state. Additionally, you'll need to meet certain eligibility requirements, such as having a checking account and a regular source of income, in order to be approved for a loan.
Pros of Green Trust Cash
Here are some potential pros of using Green Trust Cash for a short-term installment loan:
Quick and easy application process: Green Trust Cash offers a simple online application process that can be completed in just a few minutes. This can be convenient for people who need money quickly.
Loans for people with bad credit: Green Trust Cash specializes in loans for people with poor credit histories who may not be able to obtain loans from traditional banks or credit unions.
Flexible repayment terms: Green Trust Cash allows customers to choose a repayment term that works for them, with options ranging from 6 to 12 months. This can make it easier to budget and plan for repayment.
Funds deposited quickly: Once approved, funds are typically deposited into the customer's bank account within one business day. This can be helpful for people who need money urgently.
However, it's important to note that Green Trust Cash loans can come with very high interest rates and fees, which can make them an expensive form of borrowing. Additionally, short-term installment loans are intended for short-term financial needs and are not a long-term solution for financial problems. Customers should carefully consider the total cost of borrowing before accepting a loan from Green Trust Cash or any other lender offering short-term loans.
Cons of Green Trust Cash
Here are some potential cons of using Green Trust Cash for a short-term installment loan:
High interest rates and fees: Green Trust Cash loans can come with very high interest rates and fees, which can make them an expensive form of borrowing. The APR can range from 471.78% to 841.45%, which can result in significant interest charges over the life of the loan.
Short repayment term: While Green Trust Cash offers flexible repayment terms, the repayment period is still relatively short, ranging from 6 to 12 months. This can make it difficult for some customers to repay the loan on time, especially if they are already struggling financially.
Limited loan amounts: Green Trust Cash loans are only available in amounts up to $1,000. This may not be enough for people who need to borrow larger sums of money.
Not available in all states: Green Trust Cash loans are only available in select states, so some people may not be eligible to apply for a loan.
Automatic payments: Green Trust Cash requires automatic payments from the borrower's bank account. While this can help ensure that payments are made on time, it also means that borrowers must have enough money in their account on the due date to cover the payment.
Overall, Green Trust Cash can be a costly form of borrowing, and customers should carefully consider the total cost of the loan before accepting the terms. Short-term loans should only be used for short-term financial needs and not as a long-term solution for financial problems.
Why you have been reject at Green Trust Cash?
Borrower may be rejected for a loan from Green Trust Cash or other lenders for a variety of reasons, including:
Insufficient income: Lenders may reject loan applications from people who do not have enough income to repay the loan.
Poor credit history: Lenders may reject loan applications from people with a poor credit history or a low credit score.
Too much debt: Lenders may reject loan applications from people who already have too much debt or who have a high debt-to-income ratio.
Incomplete or inaccurate information: Lenders may reject loan applications if the information provided is incomplete or inaccurate.
Unemployment: Lenders may reject loan applications from people who are currently unemployed, as they may be seen as a higher risk for repayment.
Geographic location: Lenders may reject loan applications from people who live in states where they do not offer loans.
It's important to note that Green Trust Cash may have its own specific criteria for loan approval or rejection, and the specific reasons for rejection may vary from one customer to the next.
Is it possible to get a loans without a Job at Green Trust Cash?
While it is technically possible to apply for a loan with Green Trust Cash without a job, it may be difficult to be approved for a loan without any source of income. In order to be eligible for a loan from Green Trust Cash, you must have a steady source of income that can be verified, such as employment, self-employment, or regular benefits.
If you do not have a job, you may still be eligible for a loan if you have another source of income that meets Green Trust Cash's eligibility requirements. For example, you may be eligible if you receive regular payments from disability benefits, retirement benefits, or other sources of income.
It's important to note that even if you are approved for a loan from Green Trust Cash without a job, you will still be required to repay the loan according to the agreed-upon terms, which may include interest charges and fees. Before applying for a loan, you should carefully consider your ability to repay the loan, taking into account your income and expenses.
Can borrower still get a loan even with bad credit at Green Trust Cash?
Yes, it may be possible to get a loan from Green Trust Cash even if borrower have bad credit. Green Trust Cash specializes in loans for people with poor credit histories, and they may be willing to work with customers who have bad credit or no credit at all.
While Green Trust Cash does perform a credit check as part of the application process, they also consider other factors when making loan decisions, such as your income, employment status, and other financial information. They understand that not everyone has a perfect credit score, and they may be able to offer a loan that fits your individual circumstances.
It's important to note, however, that having bad credit may result in higher interest rates and fees, which can make the loan more expensive overall. Before accepting a loan from Green Trust Cash or any other lender, you should carefully review the terms and make sure you understand the total cost of borrowing, including any interest charges, fees, and other charges. You should also ensure that you can afford the loan payments and that the loan fits your individual financial needs and goals.
What happens if borrower cannot pay on time or at all?
If borrower are unable to make a payment on time or at all, the first thing you should do is contact Green Trust Cash as soon as possible. They may be willing to work with you to find a solution that can help you make your payments or provide you with options for modifying your loan terms.
However, if you do not make your payments on time or at all, it can result in a number of consequences, such as:
Late fees and penalties: If you miss a payment or are late on a payment, Green Trust Cash may charge you a late fee or penalty. These fees can add up quickly and make it even more difficult to catch up on your payments.
Damage to your credit score: Failing to make your loan payments on time or at all can have a negative impact on your credit score. This can make it harder for you to get approved for credit in the future and may result in higher interest rates and fees.
Legal action: In some cases, Green Trust Cash may take legal action to collect on a delinquent loan. This could include wage garnishment, seizure of assets, or other legal actions to recover the money owed.
Continued collection efforts: If you do not make your payments, Green Trust Cash may continue to contact you to collect on the debt. This could include phone calls, letters, or other forms of communication.
Overall, it's important to make every effort to repay your loan on time and in full. If you are struggling to make your payments, contact Green Trust Cash as soon as possible to discuss your options and find a solution that works for you.