Lending Policy

OnlinePaydayLoans.com is here to help you make a sound financial decision and choose a reputable lender that is right for you. The information on our website serves as a guide that you can use to protect your rights as a borrower, and get the money you need safely.

Research Materials

OnlinePaydayLoans.com provides articles about the payday loan industry and detailed information about lending regulations of each state.  We also outline all federal lending and banking policies. You can access directly the websites of the Federal Trade Commission and the Consumer Financial Protection Bureau.

Federal Lending Policy

Lenders who partner with OnlinePaydayLoans.com obey the policy provisions of the Dodd-Frank bill that protects you against unfair and discriminatory lending practices or prohibit customer access to credit or payday loans. Any lender who violates your rights to apply and obtain a payday loan you should report them to the Consumer Financial Protection Bureau.

Full Loan Disclosure

Any lender who offers you a loan must make you aware of all terms associated to your loan, i.e. interest rates, origination fees, late penalties, rollover charges and other loan details.  The federal Truth in Lending Act mandates that lenders must provide you with a written account of the terms of your loan prior to you completing and signing your loan documents.  All lenders in our network follow this law.

Our Lenders Follow State Guidelines

The interest rate and fees that lenders charge you take out a loan is determined by state lending regulations.  State laws also mandate how much money you can borrow and rollover fees.  All lenders in our network strictly obey all state laws.  State lending laws change periodically; OnlinePaydayLoans.com tracks these changes and keeps you informed about lending regulations of each state through a link on our website.

Debt Collection Policy

All lenders must adhere to federal debt collection rules.  Under the Fair Debt Collection Practices Act, lenders cannot telephone you to harass or annoy you while attempting to collect a debt from you.  Further, lenders cannot can you before 8 a.m. or after 9 p.m., threaten you with legal action, or use abusive language. If a lender commits any of these violations contact OnlinePaydayLoans.com and we will immediately report this lender to the Federal Trade Commission and crease our business relationship with that lender.

Loan Renewal Policy

Some lenders may allow you to renew your payday loan. If you can renew your loan, lenders may charge you a new interest rates, origination fees, rollover fees, and late fees.  All loan renewals and fees are governed by state lending regulations.  If you are considering a loan renewal check with your lender and your state’s banking and lending laws for more information.

Non-Payment and Late Payment Policy

If you are late repaying your loan, your lender may set-up a payment plan or charge you a late payment fee.  The penalty amount for late payments is determined by state lending policy.  In the event that you fail to repay your loan, you may be charged a non-payment fine or face criminal charges.  All lenders in the OnlinePaydayLoans.com network do not enact criminal charges against you for non-payment of your payday loan.