Close

Policies

 

All creditors are required to abide by particular laws. Each borrower is protected by these laws once they sign the contract with the creditor and start the repayment process. If you have any concerns or questions about these regulations you should contact a legal professional.

The federal government of the USA has crafted laws to protect consumers and creditors against unfair situations. According to the Truth in Lending Act, information and other data about the loan contract have to be provided in written form to the client.

This information should include the exact interest rates, charges, fees, as well as other additional details. The conditions of the loan issued by the creditor should conform to the state laws and regulations.

Under the Dodd-Frank Wall Street Reform Act, each creditor has to offer fair and independent lending services. Creditors cannot discriminate against other people; they must provide fair access to lending products and services. According to this Act, the Consumer Financial Protection Bureau has the power to enforce these laws and regulations.

Borrowers are also protected by the Fair Debt Collection Practice Act (FDCPA). Creditors have to follow particular practices according to this Act. It bans actions including, but not limited to:

  • The usage of threatening and/or abusing language;
  • Unpermitted threats of legal action and jail time;
  • Giving false data about borrowers, or their debt;
  • Having contact over the phone before 8AM or after 9PM, unless the client agrees.

Get in touch

24/7 We will answer your questions and problems

    Error

    image description

    One moment, pulling up that offer for you...