Responsible Lending Policy - Furnish Short Term Payday Loans

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Responsible Lending Policy Furnish Loans for Online Payday Loan

At FurnishLoans.com we strive towards protecting the rights of our customers under all circumstances. Many short term loan lenders engage in fraudulent activities and take advantage of ill-informed customers. FurnishLoans.com ensures that all the lenders in its network follow fair practices, do not engage in illegal collection methods and do not take advantage of the customers. In addition, we have provided great amount of information on this website in order to educate our customers about short term loans, when they should take them and what are its pros and cons. We have taken a number of steps in order to ensure that the rights of our customers are always protected.

Fair collection methods

All the lenders in our network adhere to the guidelines set out by the Fair Debt Collection Practices Act and do not engage in any unlawful means in order to collect the loan amount. FurnishLoans.com exists in order to connect our customers with a wide network of lenders. We are not lenders and hence we do not take any steps to recover the loan amount. Recovery of loan amount is done by the lenders themselves. The Fair Debt Collection Practices act has been designed in order to protect customers from harmful and abusive collection practices that some lenders engage in.

Under this act, the following actions taken by lenders are considered as violations:

• Threatening the customer with legal action in order to recover a loan when such an action cannot be taken. • Harassing a customer in order to collect debt. • Using misrepresentation of deceptive practices in order to recover a loan. • Contacting customer after 8PM or before 9AM
All lenders in our network adhere to these guidelines. In case a violation is reported by a customer or a lender is found to be involved in any violation, he or she would be immediately removed from our network. Such violations are subject to appropriate action, taken by the concerned authorities.

Fair Lending Act

According to the fair lending act, no customer can be denied loan on any non-financial grounds. All applicants should have equal and non-discriminator access to loans. In case you have been discriminated against by any lender, you can file a complaint at the Fair Lending and Equal Opportunity office. The lenders however reserve the right to deny a loan on financial grounds. The grounds on which a loan can be rejected can be found in the “Frequently Asked Questions” section of this website.

Truth in Lending

FurnishLoans.com and its entire network of lenders adhere to the guidelines set out by the Truth in Lending Act. According to this act, consumers should be given complete information about the terms and conditions governing their short term loan. According to the fair lending law, all this information should be provided to a customer before taking his or her electronic signature, after which the contract becomes legally binding. All our lenders would provide you with the terms and conditions that would govern your loan along with the charges, rates and interest that the loan would carry. In case a customer is not satisfied by an offer, he or she can reject the offer any time before given his or her electronic signature, after which the customer enters into a legally binding agreement with the lender.

Educating customers about short term loans

On our website we have provided a wealth of resources that educate customers about short term loans, application procedure, eligibility criterion etc. We have made sure that all such information is presented to the customer in a way that it is easy to understand. All our customers should go through all this information before they take a decision to take a short term loan. Taken an educated decision should always be preferred against taking a decision in haste.

State Regulations about Short Term Loans

In order to protect the rights of the consumers, most states have laid down certain rules and regulations that restrict the interest rate that can be charged from a customer in addition to other fees and charges involved. All this information is available on the website of the state government or the concerned financial office. FurnishLoans.com and all its lenders provide loans while adhering to these regulations.

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Furnish Loans 940 E. Sahara Avenue , Las Vegas, , NV - 98684 http://www.furnishloans.com/apply-now.html

FurnishLoans.com is not a lender and does not offer any short term loans. We connect our customers with our wide network of lenders. The decision of approving a short term loan requested by a customer rests with the lenders and not with FurnishLoans.com. We do not in any way determine the final amount that the customer would receive, the interest rates that would be charged and the final amount payable by the customer. FurnishLoans.com does not carry out credit checks of any customer applying for a short term loan through us. FurnishLoans.com does not act as an agent of any lender, nor do we advise our customers to get their loan from a particular lender. All customers can hence compare the final offer they receive from different lenders and choose an offer accordingly.
All customers who wish to receive a short term loan should apply for the same through our simple online form. Once we have all the details, we would send them to our network of lenders. After our lenders our satisfied with the information provided by you, they would make you an offer. The offer would contain all the terms and conditions attached to the loan along with the fee, interest rates and the final amount payable. If you are satisfied with the offer, you can accept the offer by providing your electronic signature. The electronic signature would be legally binding. After providing your signature, the lender would transfer the loan amount to your bank account. FurnishLoans.com or its associated lenders never put our customers under any obligation to accept an offer. In case you are not satisfied with the offer, you can choose to reject it. FurnishLoans.com exists to connect our customers with our network of lenders and is in no way responsible for the terms and conditions set by the lender.
Some lenders in our network may choose to carry out the customer’s credit check. There are a number of bureaus through which this check can be conducted; however, our lenders try to carry out the credit check through a bureau that does not impact your credit scores in any way. The check is merely to ensure that you do not have any default or outstanding loans on your name.
The content of the website along with this document may be changed at any time and FurnishLoans.com reserves the right to do so. We do not ensure that a lender would accept your application and would eventually make you an offer. Since we are not responsible for setting the terms and conditions of the loan, it is the customer’s responsibility to understand all the conditions set out by the lender along with the downfall of taking a short term loan. Short term loans are in no way a solution to long pending credits and are only a solution to handle emergency financial needs. If you have been taking loans since a long time or have not been in a stable financial position, we recommend that you consult a financial counselor.
All communications and transactions that occur between us and our customers are subject to our local jurisdiction. Due to certain state regulations, we would not be able to offer short term loans in some states. Please visit your local state regulations website to understand the regulations pertaining to short term loans in your area.