Rates and Fees

InternetPaydayLoans.net does not work as a loan lender or as a lender to lenders. We do not take any credit decisions. Hence, our main function is to match potential borrowers and potential lenders. Visitors of InternetPaydayLoans.net cannot be provided with any information concerning interest rates or fees that lenders charge once they are matched with each other.

Nevertheless, we are doing our best to ensure that all the lenders in our network abide by all the local, state and federal laws and regulations in order to meet our clients' needs and to facilitate fair performance in the sphere of lending activities.

Short-terms loans have to be used for urgent financial difficulties; otherwise, they get expensive as lenders may charge relatively high rates and fees. Therefore, lending institutions are subject to heavy regulations at local as well as state and federal levels. Apart from that, there exist several organization, both governmental and non-governmental, which execute control over lenders operating in this business sector making sure to implement the best lending practices and procedures.

How much will my loan cost?

As a rule, interest and fees are included in the price of the payday loan. The repayment pattern is as follows: at a certain time, which is agreed upon, you repay the loan plus the fees and interests depending on the amount of cash you have borrowed and the terms of your loan. This amount is automatically withdrawn from your account then.

Can I extend or refinance my loan?

In case you are unable to pay back your loan in due time, you may be charged late fees and interests, the amount of which depends on the amount borrowed; or report your information to a consumer reporting agency, which may result in your negative credit score. Otherwise, you may ask for refinancing or extending your loan, which may entail additional charges and fees, though.

Should you have any more questions concerning your payday loan, you have to contact your lender.

Our site publishes different materials to provide users with better understanding the way the credit industry operates. In order to get a deeper insight into the process of lending and borrowing we strongly recommend that our clients used either the [Consumer Financial Protection Bureau] http://www.consumerfinance.gov/ or [Federal Trade Commission] https://www.ftc.gov/. The main function of these agencies is governance of the process of issuing short-term loans, consumer protection and prevention of lending malpractices.

Are loans allowed in all the states?

As well as federal laws, there exist state laws aimed at protecting consumers from unfair lending practices. Different states determine their own terms regarding the loan amount, fees and charges, terms and conditions applied to short-term loans and the number of outstanding loans a borrower is allowed to have at the same time. In order to get more detailed information on your state regulations, you can use the services of these sites: http://www.paydayloaninfo.org/state-information and http://www.ncsl.org/research/financial-services-and-commerce/payday-lending-state-statutes.aspx.
Pay attention to the fact that these regulations may change without prior notice.

The following states prohibit short-term loans: Arkansas, New York, Vermont and West Virginia. It should be pointed out that the list is not complete and is subject to changes without notice. Clients are strongly recommended to check official websites before applying for short-term loans.