Our Policy On Responsible Lending
The goal of PersonalLoansAndCredit.com is to provide a reliable service while adhering to the best possible procedures in the lending community. Outlined below is our commitment to Responsible Lending. If you have any questions please feel free to contact us.
Truth In Lending Act
Each lender has different loan terms, such as the loan amount, the APR for the loan, repayment schedules, etc. Each lender is required by federal law to present to you the terms of the loan, the rates and all costs associated with the loan prior to your execution of the loan documents. Carefully review the loan amount, fees and other details of the agreement. You are under no obligation to accept a loan until you agree with and e-sign the agreement. Please feel free to exit the process at any time as you are under no obligation to accept the loan presented.
All lenders are required to adhere to the Fair Lending Act, which means applicants must be allowed fair, equitable, and nondiscriminatory access to credit. If you believe that you have engaged a lender that has violated this act, you have recourse. There are two United States Federal Government Agencies that are committed to regulating and enforcing the Fair Lending Act. These two Agencies are the Federal Trade Commission and Consumer Financial Protection Bureau. The Dodd-Frank Wall Street Reform Act states that all lenders, must engage in “fair lending,” which is defined as “fair, equitable, and nondiscriminatory access to credit for consumers.” Dodd-Frank also tasks the Consumer Financial Protection Bureau with the enforcement of fair lending regulations.
Fair Debt Collection Practices
For consumers repaying their loans, PersonalLoansAndCredit.com supports all provisions of the Fair Debt Collection Practices Act enforced by the Federal Trade Commission. PersonalLoansAndCredit.com is not an actual lender and, as a result, does not collect debts from consumers. PersonalLoansAndCredit.com endeavors to only work with lenders that comply with applicable debt collection laws, rules, and regulations. These include:
NOT contacting consumers by phone anytime before 8 a.m. or after 9 p.m.
NOT contacting consumers by phone with the intent to annoy, harass, or use abusive language.
NOT collecting debt through deception or misrepresentation.
NOT threatening legal recourse when no legal action is permitted.
Should a lender be found to be in violation of these or any other FDCPA statutes, PersonalLoansAndCredit.com does not hesitate to cease conducting business with the company and report the company to the FTC.