Policy on Responsible Lending

online-financialservices.com is there to make sure every client gets the money they need without overpaying for it. We do our best to protect you against dishonest lenders and provide plenty of information that rules out the risks typically associated with payday loans.

We can be trusted

online-financialservices.com follows fair lending laws in its effort to match you up with a suitable lender. Before you assume any obligation at all, you should read all and any information made available by the lender regarding rates and fees as well as special regulations that may apply. You will discover what the rules are regarding payday loans if you visit our Rates & Fees section.

Fair loans for everyone

The lenders within our network offer loans based on international fair lending practices. They observe the Dodd-Frank Wall Street Reform Act that’s enforced by the Consumer Financial Protection Bureau.

Debt collection that complies with international law

The Fair Debt Collection Practices Act enforced by the Federal Trade Commission sets forth provisions for our lenders to follow at any time. However, we are not a lender and do not offer any loans; we also do not collect any debt. The following are some of the basic rules our lenders will observe when dealing with customers:

  • Never contact clients before 8 in the morning and after 9 in the evening
  • Never harass or abuse clients in any way when contacting them
  • Never deceive with the objective of collecting debt
  • Never threat consumers to use legal action when such action is not possible

You have every right to file a complaint with the Federal Trade Commission if any of the lenders you deal with violates any of those guidelines at any time.

Respect for local laws and regulations

All lenders online-financialservices.com works together with are encouraged to carefully observe any state and federal regulations that apply when offering payday loans. The lenders are likely to observe those laws regarding interest rates and fees as well as rollover policies and loan amounts.

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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