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Payday loans in Long Beach CA - Payday Advance Credit ™ USA

The Payday loan industry is governed by a set of rules and regulations set forth by competent state authorities. These laws vary from one state to the other. Despite the formation and enforcement of strict rules for the protection of the borrowers some lenders indulge in unlawful activities to take unfair advantage of the consumers. Most of these lenders do not have any valid licenses issued from the authorities and operate entirely online with almost no physical presence in the region which makes it important for the borrower to be cautious and work only with legitimate lenders.

Always make sure that the lender issuing your loan has a valid license issued by the DBO. California Department of Business Oversight has advised any potential borrowers to observe extra caution while dealing with internet payday lenders who somehow have failed to obtain valid licenses from the department and are evading state regulations and laws that are meant for the protection of borrowers. If you somehow find any unlicensed lender operating Payday Loans in Long Beach CA you must get in touch with the Department of Business Oversight and report such activities.

What would happen if the borrower uses an unlicensed lender?

  • The lender might collect the money from your account directly without asking for your permission, even if you are currently unable to pay the loan.

  • You might end up paying an interest rate that is far greater than that permitted by the California State Laws.

  • Unlicensed Payday Lenders might even pirate or sell your personal financial information even before the loan is finalised or the borrower opts out.

  • If you apply for a loan online and the lender operates from overseas or out of state, it becomes difficult to track them down and prosecute in case of violation of law

Some of the things which lenders operating in Long Beach California are not permitted to do:

  • The lender cannot ask for and accept collateral. They cannot ask the consumer to purchase any other product in order to receive a payday loan.

  • The consumer cannot be threatened with prosecution or prosecuted to collect the loan payment.

  • The lender cannot ask the consumer to deposit blank cheques.

  • The lender cannot provide a payday loan to a borrower who has an existing outstanding payday loan in their name.

  • The lender cannot commit any unfair, deceptive or unlawful act or make any sort of misleading statements.

Lending rules to be followed by lenders –

    • A maximum amount of $300 can be given as payday loan.

    • Payday loans have maximum repayment duration of 31 days and no minimum duration of payment.

    • The finance charges and fee on the loan cannot be above 15% per week for the given loan amount.

    • Annual Percentage Rate of Interest or APR for a $100 2 week loan is about 459%.

    • A written legal contract and lending agreement is must for payday loans. This contract must include all the relevant information pertaining to the terms and condition, loan amount, interest rates and finance charges.

Our lending process is free of any catches and hidden clauses, because we answer all your doubts and explain the lending process explicitly to our buyers. Whether you have hundred questions or one, we make sure that each of them is answered to your utmost satisfaction before and after applying the loan.

Fraud Alert Please be informed about stores pretending to be Payday advance credit. Read more We're a fully licensed company. Getting a safe and easy loan We are a locally owned and fully licensed company operating locally and online. You can learn more about our payday loans and licensing information for lenders here!

Disclaimer : Payday advance credit is not a financial organization or a lender. We do not provide loan or make decisions relating to the lending policy of our lenders. When you apply for a payday loan by filling out the application form available on our site, it does not guarantee approval of the loan. We forward your filled form to our network of lenders, who then evaluate your application based on their set criteria and approves your loan. Based on your application, our lenders will offer you the rate of interest, charges involved and other terms guiding your loan process. Once you get the offer from the lender, you can then decide whether you need to accept the amount or not. Payday advance credit does not play any role in deciding your loan amount, interest charged or any other terms related to it. We advise our clients to read the terms and conditions properly and weigh the pros and cons that follow before signing the contract. We make our earnest effort to provide you with up to date and explicit information on our site. If you decide to accept the offer, then you will have to sign the documents electronically and send it over to us. After you duly sign and agree to the agreement, we will then put forward the amount in your bank. We are in no way obligate you to accept the loan amount after the offer is made. You are solely responsible to accept the loan amount based on your personal decision. Some of our lenders will run a credit check on your name to ensure your capability to repay the loan. The verification won't affect your credit history and is performed by lenders to cover risks associated with lending money. Payday advance credit reserve the right of making any changes on our website without intimating the clients in advance. The updated information is effective from the time it is updated and it is the responsivity of the customer to read them prior to applying for a loan. Payday advance credit or its affiliates do not guarantee availability, performance accuracy and functionality of the third party software working on our website. Any transactions occurring between you and payday advance credit is subjected to local jurisdiction regardless of the place where you reside. Payday advance credit or its affiliates does not guarantee the performance, availability, functionality and accuracy of the third party software present on its website. All the transactions between Payday advance credit and you are subject to the local jurisdiction regardless of the location where you live when you accept a short term loan or advance credit. We advise you to go through rates and fees section on our site to understand the laws and terms that follow your agreement. Our terms of use will help you in gathering more information on the loan process, products and services to understand it thoroughly. Read our privacy policy to understand rules and regulations to understand the collection, use and distribution of personal and non­personal information that's been gathered from customers by Payday advance credit or any affiliates. Privacy Policy