Lending Policy

SameDayPaydayLoan.com is committed to arming consumers with the knowledge necessary to make informed, responsible financial decisions. We remain dedicated to working with reputable lenders.

Truth in Lending Act

SameDayPaydayLoan.com’s policies and practices adhere to the regulations set by Fair Lending laws, such as the Truth in Lending Act. Before a consumer assumes any obligation to initiate the loan process, consumers should demand to be presented, in writing, with the exact rates, fees, rollover charges, and other details of their loan, not to exceed applicable laws, rules, and regulations.

Fair Lending Practices

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 (CFPB) with the enforcement of fair lending regulations. Should any problems arise with a consumer’s chosen lender, SameDayPaydayLoan.com urges the borrower to file a complaint with the CFPB.

Reasonable Debt Collections

For consumers repaying their loans, SameDayPaydayLoan.com supports all provisions of the Fair Debt Collection Practices Act (FDCPA) enforced by the Federal Trade Commission (FTC). While SameDayPaydayLoan.com is not an actual lender and, as a result, does not collect debts from consumers, we nonetheless require all lenders in our network to follow the statutes. These include:

  • Lenders cannot contact consumers by telephone before 8 a.m. or after 9 p.m.
  • Lenders cannot contact consumers with the intent to annoy, harass, etc., or use abusive language.
  • Lenders cannot collect debt through deception or misrepresentation.
  • Lenders cannot threaten legal recourse when no legal action is permitted.

Should a lender be found to be in violation of these or any other FDCPA statues, SameDayPaydayLoan.com does not hesitate to cease conducting business with the company and report the company to the FTC.

Adherence to State Regulations

While all lenders and SameDayPaydayLoan.com follow federal regulations, individual states also have laws regarding lending within their borders. These include limits on interest rates, rollovers and fees, maximum loan terms, cool-off periods between loans, presentment, and more. Borrowers are encouraged to research laws governing payday loans in their state to be sure the lender’s terms are within legal limits.

THE INFORMATION PROVIDED ON THIS SITE SHOULD NOT BE CONSTRUED AS LEGAL ADVICE AND IS NOT A SUBSTITUTE FOR QUALIFIED LEGAL REPRESENTATION.