Legal

Here you can find the current information on how the payday loan lending industry is regulated in the U.S., what limitations apply, which states have payday loan lending status as legal, and other details that are recommended for reading before you fill out an application. We make a reservation for eventual lag in situation where the existing legislature changes. You should always consult the official websites of the state authorities for more accurate and up-to-date information.

What is a personal loan?

A personal loan is a consumer credit product that provides for the financing of a fixed sum at a fixed and repayable interest rate according to an amortization plan in constant installments. The personal loan is normally granted by banks and specialized financial companies.

Are personal loans legal?

Personal loans are legal in the majority of states. It is important to check the legal status of payday loans in the state where you are registered before you fill out the application online. If payday loans are illegal in your state, you cannot apply for a loan in another state.

Is your site a lending storefront?

No, we are not a lender, and we do not provide credits. We are not legally associated with any of the money-lending companies from our database. The role of our company is that of a mediator, which means we connect borrowers with payday loan lenders. Our services consist in running background checks verifying the legal compliance of lenders before adding them to our database so that our users can get offers from licensed storefronts only.

My loan terms are unacceptable for me, can you help?

In our database, you can compare prices off multiple payday loan lenders with low fees in your state. In order to consolidate a more expensive loan, taking out a new loan with better terms is a reasonable decision. Note that not all the states allow having more than 1 outstanding debt.

Is it safe to take out a payday loan?

It is legal and safe to take out a loan given that you sign an agreement with a licensed agent. Our service provides an extra layer of safety as far as the legal compliance of the lending companies goes.

I am not a citizen of the U.S., can I apply for a loan?

We are bound by the current legislation to take applications only from the citizens of the U.S. registered in the state of application.

I am not yet 18, can I take out a loan?

We are prohibited by the law to work with underage citizens.

How can I be sure the deal is legal?

When you find the lender with the terms that you find acceptable, you will be asked to sign an agreement that has the rights and responsibilities of both parties fixed. In case of complaints, you can seek arbitrage under your state’s jurisdiction.

When does the agreement gain validity?

The contract signed with the lender gains legal power as of the moment you sign it. In case of e-signature, it is the moment when you put you digital signature on the agreement. You should approach signing of the documents responsibly and read the terms of the contract with care and attention.