At Faxless Payday Loan, we want to make sure that consumers in the market for payday loans are protected from any possible wrongdoing, and one of the ways we do this is by giving them crucial information about these loans and the lending process.
(PRWEB) May 19, 2012
As part of an effort to expand its online library of informational resources, Faxless Payday Loan has made an article called “Fair Lending” available to visitors to its website. The article is designed to educate consumers on the various federal and state regulations and policies regarding payday loans and the lenders who provide them. Consumers are always advised to be aware of these policies to ensure they are receiving fair and rightful service from their loan lenders.
“At Faxless Payday Loan, we want to make sure that consumers in the market for payday loans are protected from any possible wrongdoing, and one of the ways we do this is by giving them crucial information about these loans and the lending process,” says FaxlessPayday.Loan.com spokesperson Jack Anderson. “Our new lending policy article will help us in our mission to educate potential customers and instill in them confidence about our product and our ability to help them out in times of financial need.”
The “Fair Lending” article provides coverage of three major policies within the faxless payday loan industry. The first is the Truth in Lending Act, which ensures that loan lenders cannot take advantage of consumers by using hidden fees and unstated details. The Fair Debt Collection Practices Act prohibits debt collectors from using unfair tactics during the repayment period. And lastly, the Dodd-Frank Wall Street Reform Act entitles consumers to equitable access to funds. In addition to detailing the specifics of these laws, Faxless Payday Loan's lending policy piece explains how specific state laws can affect aspects such as rollover fees and the loan renewal process.
After perusing the new educational material, consumers can also explore the site’s numerous additional resources, all of which are accessible from the homepage. With the idea that knowledge is power, Faxless Payday Loan wants to ensure that all loan borrowers know the ins and outs of cash advances, and it strongly believes that the more consumers know about the loans, the lending process, and the payday lending industry and its practices, the more likely they will be able to take full advantage of what the loans have to offer them, and consequently be able to regain financial stability in their lives. That is why the company recommends that interested individuals should acquire as much knowledge as they can about payday loans by taking advantage of its comprehensive online article offerings.
Faxless Payday Loan exists to direct consumers to reliable payday loan lenders, who can provide emergency funds to cover expenses such as medical bills and vehicle repairs. Even if a consumer has a history of bad credit, as long as they meet some basic eligibility requirements, such as being at least 18 years old, either a U.S. citizen or legal resident, and currently employed with at least 90 days on the job, Faxless Payday Loan can approve their loan application and grant access to its lender network.