Responsible Lending Bad Credit Payday Loans Near Me
Responsible Lending Practices
We do not provide a loan service or represent any lender. We work hard to provide access to reliable lenders and find the best possible match according to your sent information.
We strive to ensure that all loan providers in our network adhere to federal, state and local laws as well as the responsible lending practices and best practices in the market.
We are aware that the lending industry is challenging and each state applies its own rules and regulations. That is why we provide the necessary information and educational material to clarify any questions regarding the lending industry in the United States.
Now we’ll provide the required information abaout the major laws and acts that protect users from unfair practices. We suggest you read this information and How It Works, FAQ, Rates and Fees pages to comprehend your options and decide only smart and reasonable credit decisions.
Fair Debt Collection Practices Act
We ask our lenders to follow the guidelines of the Fair Debt Collection Practices Act. We will never attempt to collect any debt from you as we are not a lender. However, our professional lenders are certified to use lawful means to collect your debt if your loan is unpaid. They'll stick to the guidelines of the Fair Debt Collection Practices Act on their activities. Now we'll show the major actions deemed as violations of the Act:
Using any harmful, oppressive, foul or harassing language to collect debt;
Contacting debtors before 9 a.m. or after 8 p.m. in their local time zones;
Falsifying information, deceiving or misrepresenting a company to collect a debt;
Intimidating with criminal charges or any unwarranted legal action.
Any lender of our network found violating any of these guidelines will be immediately eliminated from our system and reported to law enforcement.
Fair Lending Act
The Fair Lending Act is written to ensure that all costumers have equal access to credit no matter their age, race, creed, gender, religion or other factors. The Act safeguard from discrimination against consumers and assure the obtention of a loan and other credit products as long as these users comply with the legal and financial guidelines required to obtain such credit. If you feel discriminated, please contact the Equal Opportunity and Fair Lending Office of your local Consumer Financial Protection Bureau.
Truth in Lending Act
The Truth in Lending Act is a document established to provide consumers with every detail about an offer of credit available. This offer must be in writing before e-signing any contract or deciding to extend any credit. Lenders are required to reveal the fees, rates, interest and terms of the loans before providing credit to any consumer. Each state has regulations of short-term lending, and all lenders must ensure that all offers are regulated according to the Act regulations.
Many states put into effect rules for the short-term lending market to protect users. Some states rule the maximum number of rollovers, loan amounts, fees, applicable interests and more. General knowledge of regulations in specific states can be found in our Rates and Fees section. You can find links to official websites with detailed explanation on short term loan laws and up-to-date limits from different states.