as a State Licensed Lender Check City follows all applicable State and Federal laws that apply to their services and products
Provo, UT (PRWEB) March 09, 2012
Check City is wholly committed to providing quality services to customers. As part of this commitment to they have released a Responsible Lending Statement that details the policies, procedures and laws that they adhere to when providing short term financial services, both through their stores and online at CheckCity.com. Check City has developed the following policies to ensure that customers can feel comfortable and secure when taking out a short-term loan.
Second, the loans provided by Check City are intended for short-term needs. Check City provides short-term loans that can help any customer meet immediate needs. The loans that Check City provides are not designed to help customers in long-term financial needs. As a customer extends or refinances their loan, there will be additional charges added to the loan. Check City openly encourages customers to only borrow the amount they need and to repay that amount as soon as possible. Check City also encourages customers to compare the terms and conditions of the loans they provide with other loans that are offered to them. It is important to Check City that each customer finds the short term loan product that works the best for their, personal, financial situation.
Third, every customer that takes out a Check City loan will retain the right to rescind the loan within the first 24 hours of being approved. All customers can rescind the loan, with no charge, as long as the loan proceeds are returned. The terms for a this rescind policy are disclosed and described in every loan agreement.
Fourth, Check City is dedicated to being as transparent as possible. Each loan agreement discloses all of the terms of the Annual Percentage Rate, the finance charge and the total amount customers are required to repay according to federal Truth in Lending Regulations. Any late fees, returned item/NSF fees, ongoing interest is also outlined in each customer’s loan agreement. There are no hidden fees or hidden charges when a customer chooses to work with Check City.
Fifth, Check City works to ensure that each customer repays their loan. When a customer takes out a loan they will authorize Check City to contact them using either phone calls, emails or text messages. If a loan payment is not made by the due date, Check City professionals will contact the customer to remind him or her that it is time to make a payment. As Check City seeks collection of the loan they will abide by all governing laws in the state that the loan was taken out. The collections process is outlined in the customer’s loan agreement.
Sixth, Check City will never renew or refinance a loan without the express permission of the customer. Check City encourages all customers to reduce the principal of their loan by making early payments. This will potentially reduce the finance charges that the customer may incur throughout the time that they are paying back the loan.
Seventh, as a State Licensed Lender, Check City follows all applicable State and Federal laws that apply to their services and products. To provide legal cash advance loans Check City is dedicated to abiding by the Truth in Lending Act (TILA), The Electronic Fund Transfer Act (EFTA), The Fair Credit Reporting Act (FCRA), The Gramm-Leach-Bliley Act (GLBA) and the Equal Credit Opportunity Act (ECOA).
Finally, Check City has ensured that all customers are able to get a hold of a Check City professional. Check City provides a toll-free number, email address and street addresses on their website at CheckCity.com. Check City is dedicated to quick responses to mail, live chats and email to ensure that questions are answered and problems are resolved