Code of Conduct for Responsible Lending
Any transaction dealing with any type of loan should only be handled safely, ethically, and professionally to make sure that customersare protected to the utmost degree. Therefore, our team along with our affiliates and network of lenders, work especially hard to make sure thereis a general overall safety of all customers. We also fully encourage the responsible use of loans, whether payday, cash advance or other.Additionally, we always strive to assure that customers have an opportunity to fully understand all of our service. More specifically,are services are that we work with a network of affiliates and lenders in order to match our customers, YOU, with the best match that best fitsyour individual needs. Moreover, if you derive absolutely any questions and/or concerns about any aspect of your loan, please contact the lender directly that you are eventually matched with.We believe that all of our lenders are actively practicing responsible lending practices and policies to give the most probability and to ensure that the borrowers are greatly rewarded with the very best experience as possible. As a result, the network of lenders and affiliates strictly adhere to the following best practices:There will be no unnecessary fees charged; There will be no encouragement for consumers to borrow beyond their means; People experiencing any financial problems or problems with debt won’t be targeted; Acquiring a loan won’t be encouraged if the lender feels it isn’t the best product for customers; The lenders will also adhere to any and all legal marketing practices as administered by each state.
What do I need to do to borrow responsibly?
First, be sure that a specific payday loan is the very right thing for you under your circumstances. Most importantly, think about whether or not you can really pay it back in areasonable manner as per the terms offered to you.If you can’t, you are at risk of incurring possible extra charges by rolling over the payday loan. This can cause more interest at the exact same rate as the original payday or quick loan.It canadd up quickly. So be careful. Aslo, If you don’t honestly think you can afford the costs of a cash or payday loan, we strongly recommend that you don’t get one. Finally, If you’re seeing that debt problems in your life are regular, utilize your local government’s website that usually offer, useful information, resources and advice.
Our Responsible Lending Code
- Truthful advertising. We absolutely don’t promote our loan services in anymisleading or false manner in order to secure any type of business. Moreover, we promote responsible use of our loan services to customers.
- Compliance. We constantly strive to strictly adhere to any and all applicable laws that govern the practices of lending and of loans. The lenders we use are not to charge rates or any other fees for cash advances that are not approved by federal or state law.
- Rollovers or extensions. Unless indicated otherwise by state or federal law, the extending of outstanding payday loans for extra fees isn’t allowed or permissible. Comparably, if authorized, customers may be permitted up to (4) four rollovers unless state law or other laws have lower rollover limits in place.
- Full disclosure. It is our belief that our affiliated lenders strictly adhere to the Truth in Lending Act (TLA) and any and all other applicable federal disclosure requirements that are intended for the safety of all customers. Depending on lender’s office locations, disclosure requirements differ. Disclosure rules/requirements will be honored in accordance with appropriate local and state laws. Moreover, each contract should completelyoutline lender’s terms and conditions in as plain language of as possible so that customers can most easily understand the same. The contracts should present service fees, displayed as dollar amount and annual percentage rate. Additionally, customers should clearly be able to understand and see the rates prior to entering the contract unless there is an exception provided bystate or federal law. A copy of each loan agreement should be provided to each customer from lendersso the customer can keep that agreement for their records.
- Consumer responsibility is strongly encouraged. Along with our lenders, we believerby informing consumers in regards to payday those customers can most likely avoid causing financial troubles for themselves. Therefore, when lenders suspect certain loan products are not appropriate for customers, they are to advise against the use of it by a customer.
- Professional collection practices. If an account is past due, our network of lenders and their affiliatesshould collect using the utmost professional means in accordance with all state and federal laws. Under absolutely no circumstances will unlawful threats or any violations of TLA be used by our affiliates or network of lenders on consumer accounts that are delinquent.
- Your right to rescind. Without a fee being charged, on or before the end of the next available business day, our customers have the absolute right to return or rescind a payday loan transaction.Lenders must be contacted directly for a customer to rescind a loan.
- No criminal action pursued. There will be no criminal action pursued by our affiliates or lenders for payday loans if a customer’s check bounces or if they are delinquent on their account.