AAACash.com uses a variety of means to help ensure that consumers are informed and well prepared for taking out loans. This includes standards designed to protect users from contact with any illicit lenders.
All Terms Will Be Provided With No Obligation
The Truth in Lending Act stipulates that all payday lenders must provide full disclosure of terms prior to the signing of any loan contract. AAACash.com mandates this for all lenders in our network. After a loan application is approved, consumers will be able to view full details, including interest rates, repayment plan, rollover limits, and all fees, without any obligation to actually take out the loan. Furthermore, applying for a loan and viewing these terms is completely free.
A Commitment to Fair Lending
The Consumer Financial Protection Bureau has been tasked by the Dodd-Frank Wall Street Reform Act to ensure fair lending practices for financial markets, including all payday lenders. Fair lending is defined as “fair, equitable, and nondiscriminatory access to credit for consumers.” Payday lenders in the AAACash.com network do not require any credit score for loan approval. If you experience any problems with your lender, please lodge a formal complaint with the CFPB, the Better Business Bureau, or the Federal Trade Commission.
Strict Compliance With State and Local Laws
With federal acts may dictate certain aspects of the payday loan industry, many states and local municipalities have instituted further regulations on payday loans. These may include loan amount limits, caps on the maximum allowable interest rate, rollover restrictions, and more. All AAACash.com and its lenders follow all applicable local laws concerning payday loans.
Loan Renewal Policy
Refusing to repay loans will result in significant financial penalties and possibly criminal charges. Many states have enacted laws regarding the availability and manner in which loan renewals may be conducted. Extending the repayment period of your loan, rollovers, and other forms may incur additional fees and, in combination with accrued interest and other fees, will greatly increase the total monetary amount necessary to repay the loan. These fees and other costs are detailed in the loan disclosure document provided prior to signing a contract. Please read them carefully. AAACash.com and the lenders in its network will always attempt to make a reasonable repayment plan in order to help consumers repay their loans in a timely fashion.