As such, we require our lenders to adhere to federal laws and state regulations as it applies to the short term and online personal lending industries. We provide information throughout this website so that you can better understand the short term loans and online personal loans and make better decisions regarding your finances.
We strictly insist that our lenders follow the guidelines put in place by the Fair Debt Collection Practices Act. We are not a lender, so we will never make any attempt to collect a debt from you. However, our lenders have the right to use all lawful means available to them to collect your debt if your loan is unpaid. They must follow the guidelines of the Fair Debt Collection Practices Act when doing so. These are some of the main actions deemed as violations of the Act:
Any lender within our network found to violate these guidelines will be instantly removed from our network and stated to law enforcement officials.
The purpose of the Fair Lending Act is to ensure that all consumers have equal access to credit despite their age, race, creed, gender, religion, or other non-financial factors. The Act guarantees that consumers are not discriminated against and that they have access to the loan and other forms of consumer credit as long as these consumers can meet the legal and financial guidelines associated with obtaining such credit. If you feel that you are a victim of discrimination, please contact the Equal Opportunity and Fair Lending Office of your local Consumer Financial Protection Bureau.
The Truth in Lending Act was established to ensure that consumers have all of the information about the credit offer available to them in writing before they take any responsibility and e-sign any contract or decide to extend any credit. Lenders are required to disclose information about the rates, fees, interest, and terms associated with loans before they provide any credit to any consumer. Each state has its regulations regarding short term and online personal lending, and lenders are required to ensure that all offers are under these regulations.