Which responsibilities do our clients have?
Having chosen our and us as your lender you are going to have some definite responsibilies as well as rights. Each customer of a loan has to do the following things:
ē First of all you should be very attentive while reading your agreement and make sure that you have understood everything about the repayment terms and interest rate
ē Be sure that you will be able to repay the money that you are going to borrow. Remember about your limitations.
ē Check your bank account on the due date when it is necessary to pay your loan back and make sure that the amount of money will be enough to cover the borrowing
ē Donít forget to repay your loan on time avoiding all possible additional fees and interest charges.
Which rights do our customers have?
Our clients have not only responsibilities but also their personal rights and protections which will be listed here:
- To know everything about your loan including the whole information about the charges which as a rule exceed 36%. To be aware of terms to make your repayment.
- Being a borrower you should know that you canít be charged more than 15 $ for each 100$ that you have received. Full disclosure of fees and the APR mentioned in contract is also your right.
- Your payday loan has limitations concerning the amount of money you can get. They are always connected with your income and depend on how much you earn per month. But the maximum amount canít be more than 1000 $
- Our customers can ask us to provide them with a repayment plan after the month of outstanding debt. Once in this plan lenders canít charge you interest or fees.
- You have the right to refuse to have a salary assignment. But to do this you should inform your lender first
As a customer you should turn to Consumer Protection Act if some company has tried to violate the performance of your agreement.
Do lenders also have obligations and rights?
Not only borrowers have their responsibilities. We as your lenders are required to make all points of the contract clear to our borrowers. Our website should have legal warnings in order that you may read them while thinking about applying for our payday loans.
What about the rights of direct lenders? If you have decided to become a holder of a payday loan, you should know that your direct lenders have the legitimate right to take the borrowing back in case you are not able to repay your loan on time. There are some situations when lenderís company has even the right to use strict measures like having your property to cover the borrowed amount of money. Certainly, if we talk about our company we take care about our clients and such kind of measures can be used only in cases when a person doesnít want to keep in touch with us and doesnít want to collaborate.