payday4you.net is dedicated to safeguarding its consumer’s from malicious payday loan lenders who engage in illicit lending techniques. We equip consumers with the knowledge they need in order to make responsible and informed decisions.
Trust and Truth
payday4you.net’s practices and policies have always and will always conform to the regulations which have been set forth by the Fair Lending Laws like the Truth in Lending Act. Prior to a consumer assuming any obligation in order to initiate the lending process they should and will be presented in writing the exact fees, rates, charges and roll over charges in addition to other details about their loan. You can visit our Rates and Fees to find out about the current regulations and laws in your state.
According to the Dodd-Frank Wall Street Reform Act every lender which includes payday loan lenders need to engage in what it terms as “fair lending” practices. The Consumer Financial Protection Bureau has been tasked by this act to enforce fair lending rules and regulations.
Practices for Fair Debt Collection
We try to work with lenders that follow all the provisions of the stated Fair Debt Collection Practices Act which is enforced currently by the Federal Trade Commission. payday4you.net is not the actual lender. payday4you.net does not collect any debts from consumers. Every lender in our network is required to follow the following Statues which are:
If a lender is found to be violating any of the above FDCPA statues payday4you.net will not hesitate to stop doing business with that company and file a report with the Federal Trade Commission.
Current State Regulations
payday4you.net encourages lenders in its network to follow federal and state regulations. These often include the strict conformity with local laws in regards to their interest rates, maximum loan terms, rollover limits, fees, cool off periods in between loans, and much more.
Before you decide to take out a payday loan, consider some alternatives.
Payday loans (and certain other financing) offered to servicemembers and their dependents must include certain protections, under Federal law and a Department of Defense rule. For example, for payday loans offered after October 1, 2007, the military annual percentage rate cannot exceed 36%. Most fees and charges, with few exceptions, are included in the rate. Creditors also may not, for example, require use of a check or access to a bank account for the loan, mandatory arbitration, and unreasonable legal notices. Military consumers also must be given certain disclosures about the loan costs and your rights. Credit agreements that violate the protections are void. Creditors that offer payday loans may ask loan applicants to sign a statement about their military affiliation.
Even with these protections, payday loans can be costly, especially if you roll-over the loan. You instead may be able to obtain financial assistance from military aid societies, such as the Army Emergency Relief, Navy and Marine Corps Relief Society, Air Force Aid Society, or Coast Guard Mutual Aid. You may be able to borrow from families or friends, or get an advance on your paycheck from your employer. If you still need credit, loans from a credit union, bank, or a small loan company¬†.