Responsible Lending

This description of the Responsible Lending practices (“Responsible Lending”) is the minimum of information that a borrower should know in order to stay safe during the lending process. SDL365 Financial Choice LLC, Inc (hereinafter “Company”, “us”, “we”, or “our”) values its customers financial well-being and aims at ensuring a safe and secure connection with the lenders, and a fair and responsible environment for the provided financial services.

Last Updated: July 2019

This document contains the updated framework in which responsible lending shall take place while conducting any activity linked to obtaining online loans through (from now on the “Website” or “Site”).

The Scope of the Responsible Lending Center To ensure our clients have access to the entire set of information that will ensure their financial security through fair financial services.

The Types of Services Provided by SDL356

Through our Website, we connect borrowers with lenders. SDL365 is not a lender, nor is it a representative of any individual lender. However, even though we do not loan money, we would like to make sure your loan experience is the best it can be.

While we work hard to match you with reliable lenders who can offer you money in the conditions that best suit your circumstances, we also strive to create an environment that avoids predatory lending.

We do everything possible to make sure all lenders in our network are legitimate and do everything by the book, meaning they adhere to all federal, state and local laws, follow all fair and responsible lending practices, as well as the best practices in the industry.

The Specifics of Short-Term Loans

Short-term online loans are generally known as being very costly, given their high APRs. Also, the fact that they can be obtained despite a person’s bad credit is an aspect that can be beneficial and very risky at the same time.

Some aspects of the business of short-term loans can be difficult to understand, in part because state regulations of these types of loans vary widely.

In some states, these loans are heavily regulated, while other states have few or no regulations. This is why we provide you with as much information and educational material; we strive to answer all of your questions regarding short-term lending throughout the United States.

The Main Laws on Responsible Lending

Here, we will provide with the most basic information about the primary laws intended to protect borrowers and consumers from predatory and unfair practices. We encourage you to go through the information contained herein and then read more information from our FAQ, How It Works, and Rates and Fees pages to understand better your credit options and educate yourself as smart consumer who only makes the wisest and and most reasonable credit decisions.

Fair Debt Collection Practices Act

Because we are not a lender, we will never attempt to collect a debt from you. However, while our lenders have the right to use all lawful means available to them to collect your debt if you fail to pay your loan, to remain in our network, they are required to follow the guidelines of the Fair Debt Collection Practices Act (FDCPA) when doing so.

We vigorously insist that all lenders in our network follow all guidelines put in place by the FDCPA.

Among some of the major actions we deem to be violations of the FDCPA include:

  • The use of Using any obscene, harmful, oppressive, foul or harassing language or tactics while attempting to collect a debt;
  • Any attempt to contact debtors before 9 a.m. or after 8 p.m. local time in an attempt to collect a debt;
  • Attempts to contact the ‘debtor’s employer as a way to intimidate the debtor, or after an official request has been submitted by the debtor not to contact their employer;
  • Using any deception, falsifying information or misrepresenting a company to collect a debt;
  • Threaten criminal charges or any legal action when such legal action is not warranted.

Any lender that will prove to be violating these guidelines or any other guidelines of the FDCPA will be removed from our network and reported to law enforcement.

Fair Lending Act

The purpose of the Fair Lending Act is to ensure that all consumers have equal access to credit. The Act prohibits discrimination against any group based on arbitrary factors such as age, race, creed, gender, religion, and other factors having nothing to do with their finances.

The Act ensures that everyone has access to loan products as long as these consumers comply with the regulatory guidelines associated with obtaining such credit. We have a strict policy of non-discrimination, and we will remove any lender in our network who discriminates based on these criteria.

If you feel that you are a victim of discrimination, please contact us first, so we can address this, and then contact the Consumer Financial Protection Bureau, and the Equal Opportunity and Fair Lending Office of your local anti-discrimination agency.

Truth in Lending Act

The Truth in Lending Act was established to ensure that consumers have all of the information they need regarding any offer of credit available to them.

All the essential information must be disclosed in writing and must be presented and understood by borrowers before they take or e-sign any contract or decide to accept an offer of credit.

Lenders are legally required to disclose information about all rates, fees, interest, and terms associated with any loan offer before they provide loan money to any consumer.

Each state has its own very individualized regulations regarding short term lending, and lenders are required to ensure that all loan offers are per these regulations and are disclosed to the borrower immediately, as well.

State Regulations

As noted, to protect consumers, many states have implemented their regulations for the short term lending industry. Some state regulations include limits on loan amounts, fees and interest, and the number of permitted rollovers, etc.

The general information about the regulations in specific states can be found in the Rates and Fees section of this Website. There you can find the relevant government website pages containing the detailed rules on short term loans and current rate limits in each state.

Doing Our Part to Make Lending Fair

SDL365 Financial Choice, LLC works hard to protect consumers from unfair and illegal practices in the online loan industry while making use of our services. In our effort to protect you, we have developed the following code of conduct, which we require all lenders in our network to adhere to if they wish to continue doing business on our Website:

  • We strive to ensure that our clients are well informed about the process of borrowing money, about the responsibilities borrowers undertake and about the repercussions of failing to pay the money back on time.
  • We strive to ensure that our borrowers are treated with dignity, courtesy and respect, and that all are provided with easily understood information, as well as complete transparency.
  • We hold ourselves to a high standard of customer service and satisfaction, and we expect the lenders in our network to do the same.
  • We ensure that each lender or lending partner we work with is reputable and follows responsible lending practices.

Lenders and Lending Partners

At SDL365 Financial Choice, LLC, we make every effort to ensure that we only work with authorized lending partners.

Client’s main responsibility Each lender operates based on their own terms and conditions. The interest rates, the requirements on repayment and the repercussions not paying the due amount, might also vary from lender to lender. Be aware of these specific terms and conditions and do not engage in any borrowing relationship in case you can’t afford the loan.

Once you have been connected with one of our lending partners, we recommend that you look up that company and get specific contact details, so that you can contact them should you have any questions or concerns.

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