Responsible Lending

BadCredit.com is presenting you with this information to help you make responsible lending and borrowing decisions. Keep in mind that we are not a lender, do not broker loans and do not make any credit decisions. We also do not exercise any control over any lenders or endorse any specific lender.

Fair Lending

All lenders are required to comply with various federal laws, including the Truth in Lending Act (TILA). The TILA requires lenders to make certain disclosures to you about your loan before you accept the loan offer. Keep an eye out for these disclosures and review them carefully.

The Dodd-Frank Wall Street Reform Act states that all lenders must engage in “fair lending,” which is defined as “fair, equitable, and nondiscriminatory access to credit for consumers.” Dodd-Frank also tasks the Consumer Financial Protection Bureau with the enforcement of fair lending regulations. Consumers using BadCredit.com are urged to file a complaint with the agency should any problems arise with their cash loans.

Fair Debt Collection Practices

FAll lenders and and debt collection agencies are required by law to comply with the Fair Debt Collection Practices Act. The requirements under this law include the following:

• Lenders cannot contact consumers by telephone before 8 a.m. or after 9 p.m.
• Lenders cannot contact consumers with the intent to annoy, harass, etc., or use abusive language at any time.
• Lenders cannot collect debt through deception or misrepresentation.
• Lenders cannot threaten legal recourse when no legal action is permitted.

State Regulations

In addition to the federal laws described above, state-licenced lenders are required to abide by various state and local laws. These laws often include requirements on interest rates, rollovers and fees, maximum loan terms, cool-off periods between loans, presentment and more. Lenders that are owned by federally recognized Indian tribes are required to abide by federal law and their tribe’s internal laws. Loans from tribal lenders may offer higher interest rates or fees than loans from state-licenced lenders. Always review loan terms carefully to make sure a loan is right for you.