OneHourPayday.com strives to provide you with a safe and open lending process. Although we do not issue loans, we only work with lenders that follow state and federal lending guidelines.
Adherence to State Laws
The interest rates and loan origination fees charged by your lender is in accordance to state lending regulations. Some state laws also regulate the amount you can borrow from a payday lender. Details about the lending regulations of your state is available on OneHourPayday.com
Open Loan Fee Disclosure
Just like your local bank and credit union, your payday loan lender is obligated by federal law to fully disclose to you in writing all fees and interest rates associated with your loan. This written account must be presented to you before you sign your loan documents. If a lender does not provide you with this information you do not have to finalize a loan with that lender. Lenders in the OneHourPayday.com network adhere to the Truth in Lending Act.
Access to Credit
The lenders in our network operate in accordance to Dodd-Frank fair lending laws. The fair lending laws prohibit a lender from engaging in discriminatory or unfair lending practices that block your access to credit or a payday loan. If you encounter a lender that violates your access to credit contact the Consumer Financial Protection Bureau.
Late Payment Plan
If you are unable to pay your loan on time your lender may charge you with a late fee. All late payment fees are determined by state lending regulations. Details about your lenders late payment policy are disclosed on your loan documents.
Non-Payment of Loans
Some lenders may charge you additional fees if you fail to repay your payday loan. It is also possible that a lender may file criminal charges to collect the debt from you. The manner in which a lender deals with non-payment of payday loans is determined by state lending laws.
Debt Collection Policy
Lenders associated with OneHourPayday.com adhere to all debt collection guidelines of the Fair Debt Collection Practices Act enforced by the Federal Trade Commission. If your lender does not follow these guidelines while collecting a debt from you please notify us and OneHourPayday.com will report them to the FTC and no longer conduct business with them at once. Lenders must follow these FTC debt collection rules:
- No threatening or abusive phone calls to customers while collecting a debt
- No phone calls to customers before 8 a.m. or after 9 p.m.
- No use of deception or misrepresentation to collect a debt from customers
- No phone calls to customers that issue the threat of legal action when legal action is not warranted.
- No phone calls to customers that annoy or harass customers into paying their debt
Current Educational Materials
On OneHourPayday.com we strive to give all the information you need to make a responsible borrowing decision. We provide of our site information about each state lending regulations. We monitor each state board for possible regulatory changes that affect interest rates and fees you are charged by lenders.