OnlinePaydayAdvance.com is not a site only meant to find a lender for your needs, but also to use as a general financial information resource. We offer many articles on different types of loans, debt relief, credit repair, and even assistance with finding a bad credit loan to purchase or refinance a home. Our free resources are designed to deliver the tools you need to achieve the financial freedom that you deserve.
No matter which type of loan you are looking for, the entire OnlinePaydayAdvance.com lender network is compliant with the terms required by the Truth in Lending Act (TLA). This federal mandate requires total financial transparency to exist between the lender and the loan applicant, and states that certain conditions must be met in order to ensure this transparency. For example, the agreement terms must be laid out in writing in their entirety prior to the signing of the repayment contract. Compliance with the Truth in Lending Act ensures that you, the consumer, will never be harmed by duplicitous bait-and-switch lending tactics that may be found with unscrupulous lenders.
Fair Lending Policies
“Fair, equitable, and nondiscriminatory access to credit for consumers” is a condition of all lending guidelines within the United States, as provided for by the Dodd-Frank Wall Street Reform Act. This insistence on fair lending practices protects the consumer against predatory lending, and allows them the chance to file complaints against such lenders through the Consumer Financial Protection Bureau.
In addition to the previously mentioned federal lending guidelines, many states have additional protective measures in place for the consumer. These can affect repayment terms, interest rates, and other fees and costs related to your loan. OnlinePaydayAdvance.com only works with lenders who conduct business in full compliance with local standards and regulations.
Some lenders may hold provisions for delayed repayment in certain cases, but this may be affected by state laws regarding lending. Repayment extensions will usually add to the total amount due, either as a result of penalty charges, interest fees, or both. If defaulting on repayment seems likely, you should contact your lender as soon as possible to discuss new repayment terms. Please be advised that defaulting on your loan will have a negative effect on your credit score and credit report.
If your short-term loan is not paid back according to the repayment agreement, you may be subjected to criminal charges if your lender is not a member of the Community Financial Services Association of America (CFSA). Any attempts to collect on a defaulted loan will be conducted within the bounds of the methods demanded in the Fair Debt Collection Practices Act.
Debt Collection Policy
The OnlinePaydayAdvance.com lending network follows the laws described in the Fair Debt Collection Practices Act. The timing, frequency, and methods used by lenders to collect upon their debt are limited in order to give consumers protection from bullying and invasive or harassing collection tactics. OnlinePaydayAdvance.com lenders who fail to respect these limitations will be withdrawn from our network of lenders.